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Administrator and~ Adviser for the 4M Fund. Marquette Bank Minneapolis is appointed as the initial Custodian (0r the 4M Fund. The Trustees shall appoint a Technical Advisor.',' Board to assist the Trustees in the development of policies and the overseeing and reviewing of the activities of the 4M Fund. The Technical Advisory Board shall be made up of such individuals as the Trustees deem advantageouS, to the Fund. The composition of the Technical Advisory Board may be changed from time to time r,n the discretion of the Trustees. 3.2 Du~rie~ of the Adviser. The duties of the Adviser shall be those set forth in the Investment Adviso~'y Agreement to be entered into between the 4N[ Fund and the Adviser. Such duties may be mollified by the Trustees, from time to time, by the amendment of the Investment Advisory Agreemertt. Subject to Article IV hereof, the Trustees may authorize the Adviser to effect purchases, sales, o~ exchanges of ,4M Fund Property on behalf ot' the Trustees or may authorize any officer, employee,, agent or Trustee to effect such purchases, sales, or exchanges pursuant to recommendations of the Adviser, all without further action by the Trustees. Any and all of such purchases, sales, a~d exchanges shall be deemed to be authorized by all the Trustees. The Invest- ment Advisory Ag~reement may authorize the Adviser to employ other persons to assist it in the performance of its duties. The Investment Advisory Agreement shall provide that it may be terminated at any time without cause and without the payment of an5' penalty by the 4M Fund on sixty (60) days written notice to the Adviser. 3.3 Du~jes of the Administrntor. The duties of the Administrator shall be those set forth in the Admirlistration Agreement to be entered into between the 4M Fund and the .adminis- trator. Such duties may be modified by the Trustees, from time to time, by the amendment of the Administration Agreement. The Administration Agreement may authorize the Administrator to employ other persons to assist it in the performance of its duties. The Administration Agreement shall provide that i~ may be terminated at any time without cause and without the payment or' any penalty by the 4,Xl F'und on sixty (60) days written notice to the Administrator. 3.4 .Dut!es or' Custodinn. Tile duties and qualifications or' the Custodian shall be those set forth in Article 11 herein. ,; .3.5 £uz:,sssors. In the event that, at any time, the position of Adviser, Administrator, or Custodian shall [become vacant for any reason, the Trustees may appoint, employ or contract with a successor A.dviser, Administrator, or Custodian. A predecessor shall assist and cooperate with the 4M Fund in the smooth and orderly transition in the event a successor Adviser, Administrator, or Ct~stodian is appointed for any reason. ARTICLE IV 4.1 St.-,t~,rnent of lnvesrrnenr Policy-and Ob}ective. Subject to the prohibitions and restrictions containe(~ in Section 4.2 hereof, the general investment policy and objective of the Trustees shall be to; provide to the Participants of the 4M Fund the highest possible investment yield, while maintai.~ing liquidity and preserving capital by investing in Permitted Investments in. accordance with applicable provisions of Law, as may. be set forth more fully in the 4M Fund's Information Statement, as the same may be amended from time to time. 4.2 .R.e.sffictions Fundamental to the ,.tM Fund. Notwithstanding anything in this Declaration of Trust Xt'hicn may be deemed to authorize the contrary, the 4M Fund: 17