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        <ExplanationTxt>UNION TRUSTEES ARE APPOINTED TO THE BOARD BY THE LOCAL UNIONS WHO ARE PARTY TO THE TRUST AGREEMENT WHILE MANAGEMENT TRUSTEES ARE APPOINTED BY THE EMPLOYERS.</ExplanationTxt>
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        <ExplanationTxt>THE MEMBERS OF THE BOARD OF TRUSTEES ARE NOT COMPENSATED IN ANY WAY. A THIRD PARTY ADMINISTRATOR WAS HIRED BY THE BOARD OF TRUSTEES TO MANAGE THE FUND AND WAS SELECTED, HAD ITS QUALIFICATIONS REVIEWED AND COMPENSATION DETERMINED BY COMPETITIVE COMPARISON BY THE ENTIRE BOARD OF TRUSTEES.</ExplanationTxt>
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