EXHIBIT 3.02
DECLARATION AND AGREEMENT OF TRUST
OF
JWH GLOBAL PORTFOLIO TRUST
THIS Declaration and Agreement of Trust of JWH Global Portfolio
Trust, dated as of November 12, 1996 (this "Agreement"), is entered into by
and among CIS Investments, Inc, a Delaware corporation, as managing owner
(the "Managing Owner"), Wilmington Trust Company, a Delaware banking
corporation, as trustee (the "Trustee") and the persons named and whose
signatures appear in Exhibit A hereto, each as an initial beneficial owner of
the Trust (the "Initial Beneficial Owners"). The Managing Owner, the Trustee
and the Initial Beneficial Owners hereby agree as follows:
1. NAME. The name of the trust formed hereby is JWH Global
Portfolio Trust (the "Trust").
2. CREATION OF TRUST. The Trustee hereby acknowledges that the
Trust has received the sum of $183 in an account in the name of the Trust
from the Managing Owner as a grantor of the Trust, and $43 from each Initial
Beneficial Owner, as a grantor of the Trust, all of which amounts shall
constitute the initial trust estate. The Trustee hereby declares that the
trust estate will be held in trust for the Managing Owner and the Initial
Beneficial Owners. 18.3 percent of the initial trust estate shall be held in
trust for the Managing Owner. 81.7 percent of the initial trust estate shall
be held in trust for the Initial Beneficial Owners. It is the intention of
the parties hereto that the Trust created hereby constitute a business trust
under Chapter 38 of Title 12 of the Delaware Code, 12 DEL. C. Section 3801,
ET SEQ., as amended from time to time (the "Act"), and that this document
constitute the governing instrument of the Trust. The Trustee is hereby
authorized and directed to file a certificate of trust with the Delaware
Secretary of State.
3. WITHDRAWAL OF INITIAL BENEFICIAL OWNER. Upon the admission of
additional beneficial owners, the Initial Beneficial Owners will withdraw.
4. POWERS OF THE MANAGING OWNERS AND THE TRUSTEE. The duty and
authority of the Trustee to manage the business and affairs of the Trust is
hereby delegated to the Managing Owner. The Trustee shall have only the
rights, obligations and liabilities specifically provided for herein and in
the Act and shall have no implied rights, obligations and liabilities with
respect to the business or affairs of the Trust. The Trustee shall not have
any duty or obligation hereunder or with respect to the activities of the
Trust or the trust estate, except as otherwise required by applicable law.
5. POWER TO RESIGN. The Trustee may resign at any time by 15
days' notice in writing delivered to the Trust.
6. INDEMNIFICATION. The Managing Owner shall indemnify and hold
harmless the Trustee, its affiliates and all officers, directors,
stockholders, employees, representatives and agents of the Trustee (each, a
"Covered Person"), from and against any loss, damage or claim imposed on,
incurred by or asserted at any time against such Covered Person in any way
relating to or arising out of this Agreement, the administration of the trust
estate or the action or inaction of such Covered Person hereunder, except
that no such Covered Person shall be entitled to indemnification for losses,
damages, or claims arising or resulting from its own bad faith, willful
misconduct, gross negligence or reckless disregard of its duties and
obligations hereunder.
7. COUNTERPARTS. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all which shall constitute one
in the same instrument.
8. GOVERNING LAW. This Agreement shall be governed by, and
interpreted in accordance with, the laws of the State of Delaware, all rights
and remedies being governed by such laws.
[SIGNATURE PAGES TO FOLLOW]
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IN WITNESS WHEREOF, the parties hereto have executed this
Declaration and Agreement of Trust as of the date and year first above
written.
CIS INVESTMENTS, INC.,
as Managing Owner
By: /s/ L. Carlton Anderson
-----------------------------------
L. Carlton Anderson
Vice President
WILMINGTON TRUST COMPANY,
as Trustee
By: /s/ John M. Beeson, Jr.
-----------------------------------
John M. Beeson, Jr.
Vice President
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EXHIBIT A
NAMES AND SIGNATURES OF INITIAL BENEFICIAL OWNERS
Name Signature
- ---- ---------
Hal T. Hansen /s/ Hal T. Hansen
- ----------------------- -----------------------------
Name Signature
- ---- ---------
L. Carlton Anderson /s/ L. Carlton Anderson
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Donald J. Zyck /s/ Donald J. Zyck
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Jan Waye /s/ Jan Waye
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Richard A. Driver /s/ Richard A. Driver
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Brian B. Duff, Jr. /s/ Brian B. Duff, Jr.
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Ronald L. Davis /s/ Ronald L. Davis
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Robert T. Conrardy /s/ Robert T. Conrardy
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Jean Faris /s/ Jean Faris
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Steven G. Assimos /s/ Steven G. Assimos
- ----------------------- -----------------------------
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Name Signature
- ---- ---------
Michelle W. Reynolds /s/ Michelle W. Reynolds
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Barbara A. Pfendler /s/ Barbara A. Pfendler
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Thomas V. Mauro /s/ Thomas V. Mauro
- ----------------------- -----------------------------
Name Signature
- ---- ---------
R. Randall Kelsey /s/ R. Randall Kelsey
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Charles F. Farra /s/ Charles F. Farra
- ----------------------- -----------------------------
Name Signature
- ---- ---------
John D. Carlin /s/ John D. Carlin
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Kal Hachem /s/ Kal Hachem
- ----------------------- -----------------------------
Name Signature
- ---- ---------
Peter C. Wind /s/ Peter C. Wind
- ----------------------- -----------------------------
Name Signature
- ---- ---------
J. M. Cone /s/ J. M. Cone
- ----------------------- -----------------------------
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