Selection and Nomination of Trustees. This Plan is not a distribution plan within the meaning of Rule 12b-1 under the 1940 Act, and, as such, is not subject to the requirements of Rule 12b-1. Nevertheless, while this Plan is in effect, the selection or replacement of Independent Trustees and the nomination of those persons to be Trustees of the Fund who are not “interested persons” of the Fund shall be committed to the discretion of the Independent Trustees. Nothing herein shall prevent the Independent Trustees from soliciting the view or the involvement of others in such selection or nomination if the final decision on any such selection and nomination is approved by a majority of the incumbent Independent Trustees.
Appears in 2 contracts
Sources: Service Fee Plan and Agreement (Nysa Series Trust), Service Plan and Agreement (Nysa Series Trust)