Research, Analysis, and Evaluation- Contractor will (1) research, analyze, and evaluate proxy issues to ensure that proxy votes are cast in accordance with the policies, guidelines, and goals established by the PAC, and (2) analyze the legal/regulatory, financial, and social impacts on the organization and the effect a vote may have on the long-term value of Plan holdings. 3.1.2 Execution of Proxy Votes and Recordkeeping- Contractor will execute proxy votes in accordance with the Plan's Proxy Policy Statement and United States Securities and Exchange Commission (SEC) regulations. Contractor will maintain detailed records to provide clear audit trails. Contractor’s records must include, at minimum, the proxy votes cast, the voting procedures, actions taken by Contractor in individual proxy voting situations, missing proxies, evidence of share discrepancies, documentation of Contractor’s reconciliation of share discrepancies, and the records listed in the Plan’s Proxy Policy Statement (Administrative Procedures Section, Item 7). 3.1.3 Monitoring- Contractor will monitor, review, and track the proxy votes cast to ensure their accuracy and compliance with the Plan's Proxy Policy Statement. 3.1.4 Contractor’s Report- Annually or upon written request of PAC’s Project Manager identified in Exhibit D (PAC’s Administration), Contractor must prepare a comprehensive report summarizing the proxy environment, recent proxy developments and issues, and all the proxy votes cast with supporting reasons for each position taken. Contractor must provide physical copies and an electronic copy in Portable Document Format (PDF) of this report to the PAC’s Project Manager. The quantity of physical copies will be determined at the time of delivery.
