Document:

Exhibit 10.87

                         SECURITY PACIFIC NATIONAL BANK
                             TRUST AGREEMENT FOR THE
                          CHARLES SCHWAB PROFIT SHARING
                        AND EMPLOYEE STOCK OWNERSHIP PLAN

<PAGE>

                          SECURITY PACIFIC NATIONAL BANK
                             TRUST AGREEMENT FOR THE
                          CHARLES SCHWAB PROFIT SHARING
                        AND EMPLOYEE STOCK OWNERSHIP PLAN

                                      INDEX
                                      -----
                                                                    Page
                                                                    ----

ARTICLE I      ACCEPTANCE OF TRUST...............................     1
     1.01          Acceptance of the Trust.......................     1
ARTICLE II     DEFINITIONS.......................................     1
     2.01          Plan Definitions..............................     1
     2.02          Special Definitions...........................     1
ARTICLE III    CONTRIBUTIONS.....................................     1
     3.01          Contributions.................................     1
     3.02          Fund Assets...................................     2
ARTICLE IV     PAYMENTS FROM TRUST FUND..........................     2
     4.01          Payments by the Trustee.......................     2
     4.02          Plan Administrator's Directions...............     2
     4.03          The Trustee's Reliance on Directions..........     3
     4.04          Disputed Payments.............................     3
     4.05          Trust Expenses................................     3
     4.06          Taxes.........................................     3
     4.07          Expenses of Administration....................     3
     4.08          Restrictions on Alienation....................     3
     4.09          Payment on Court Order........................     4
ARTICLE V      INVESTMENTS.......................................     4
     5.01          Management by the Trustee.....................     4
     5.02          Investment Manager............................     4
     5.03          Participant Directed Accounts.................     5
     5.04          Securities Voting Rights......................     5
     5.05          Employer Securities...........................     6
ARTICLE VI     FIDUCIARY RESPONSIBILITIES AND INDEMNITIES........     7
     6.01          Relationship of Fiduciaries...................     7
     6.02          Benefits of Participants......................     8
     6.03          Duty of Care..................................     8
     6.04          Indicia of Ownership..........................     8
     6.05          The Trustee's Reliance........................     8
     6.06          Indemnities...................................     8
     6.07          Responsibility with Respect to Securities Laws     9
ARTICLE VII    POWERS OF THE TRUSTEE.............................     9
     7.01          Investment Powers.............................     9
     7.02          Securities Depositories.......................    11
     7.03          Investment in Common Trust Funds..............    11
ARTICLE VIII   ACCOUNTS OF THE TRUSTEE...........................    11
     8.01           Records......................................    11
     8.02           Reports......................................    11
     8.03           Valuation....................................    12
ARTICLE IX     RESIGNATION AND REMOVAL OF THE TRUSTEE............    12
     9.01           Resignation..................................    12
     9.02           Removal......................................    12
     9.03           Appointment of a Successor...................    12
     9.04           Settlement of Account........................    13
     9.05           Indemnity for Expenses and Compensation......    13
ARTICLE X      AMENDMENT AND TERMINATION.........................    13
    10.01           Amendment....................................    13
    10.02           Termination..................................    13
    10.03           Failure to Maintain Qualification............    14
ARTICLE XI     MISCELLANEOUS.....................................    14
    11.01           Participation by Affiliated Companies........    14
    11.02           Multiple Plans...............................    14
    11.03           Exclusive Benefit Rule.......................    14
    11.04           Refunds to Employer..........................    14
    11.05           Construction.................................    15
    11.06           Execution and Counterparts...................    15
    11.07           Successors and Assigns.......................    15
    11.08           Gender.......................................    16

<PAGE>

                         SECURITY PACIFIC NATIONAL BANK
                         ------------------------------
                             TRUST AGREEMENT FOR THE
                             -----------------------
                          CHARLES SCHWAB PROFIT SHARING
                          -----------------------------
                        AND EMPLOYEE STOCK OWNERSHIP PLAN
                        ---------------------------------

                                    ARTICLE I
                                    ---------
                               ACCEPTANCE OF TRUST
                               -------------------

     1.01     Acceptance of the Trust.  The   Trustee   agrees   to   hold   and
              -----------------------
administer  the  assets of the Plan that are  delivered  to it  pursuant  to the
instructions of the Employer,  together with additional  contributions  that are
delivered to the Trustee under the terms of the Plan.

                                   ARTICLE II
                                   ----------
                                   DEFINITIONS
                                   -----------

     2.01     Plan Definitions.  Words  defined  in  the  Plan  shall  have  the
              ----------------
same  definition in this Trust Agreement  except when such  definition  would be
inconsistent with the definitions in the Trust Agreement or would be contrary to
Trust Agreement terms.

     2.02     Special Definitions.      The   following   definitions   are   in
              -------------------
addition to those in the Plan.
             (a)     ERISA.   The  Employee  Retirement  Income  Security Act of
                     -----
     1974, as it may be amended from time to time.
             (b)     Investment Manager.    A  person,  other  than the Trustee,
                     ------------------
     appointed by the Employer or Plan Administrator to manager  the  investment
     of the Plan assets, who meets the requirements of Section 3(38) of ERISA.
             (c)     Code.   The  Internal  Revenue  Code  of 1986, as it may be
                     ----
     amended from time to time.

                                   ARTICLE III
                                   -----------
                                  CONTRIBUTIONS
                                  -------------

     3.01     Contributions.   The  Trustee  shall  receive  contributions  from
              -------------
the Employer or Plan  Administrator in cash or other property  acceptable to the
Trustee.  The Trustee shall have no duty to collect or enforce  payment to it of
any contributions, or to require any contributions to be made, and shall have no
duty to compute  any amount to be paid to it nor to  determine  whether  amounts
paid comply with the Plan.

     3.02     Fund Assets.    The  trust  fund  assets  consist of all money and
              -----------
property received as contributions,  together with any income on or increment in
such assets. The Trustee shall hold the fund assets without  distinction between
principal and income.

                                   ARTICLE IV
                                   ----------
                            PAYMENTS FROM TRUST FUND
                            ------------------------

     4.01     Payments by the Trustee.    Payments  of  money  or  property from
              -----------------------
the trust fund shall be made by the Trustee for any purpose authorized under the
Plan upon written direction from the Plan Administrator.  The Trustee shall have
no duty to inquire whether directions by the Plan  Administrator  conform to the
Plan provisions.

     If the Plan  Administrator  directs that any payment or payments be made or
continued  contingent upon future events, it shall be the  responsibility of the
Plan  Administrator to notify the Trustee in writing that the event has occurred
and any  payments  made by the  Trustee  prior to the date of such  notification
shall, as to the Trustee, be proper payments.

     Payments by the Trustee shall be delivered or mailed to addresses  supplied
by the Plan  Administrator  and the  Trustee's  obligation to make such payments
shall be  satisfied  upon such  delivery or mailing.  The Trustee  shall have no
obligation  to determine  the identity of persons  entitled to benefits or their
mailing addresses.

     4.02     Plan Administrator's Directions.         Directions  by  the  Plan
              -------------------------------
Administrator  to the  Trustee  shall  be in  writing  and  signed  by the  Plan
Administrator or persons authorized by the Plan Administrator.

     The Plan Administrator  shall be identified to the Trustee by a copy of the
resolution  of the  Board of  Directors  of the  Employer  appointing  such Plan
Administrator. Persons authorized to give directions to the Trustee on behalf of
the Plan Administrator shall be identified to the Trustee by written notice from
the Board of Directors or the Plan  Administrator  and such notice shall contain
specimens of the  authorized  signatures.  The Trustee shall be entitled to rely
upon such  written  notice as  evidence of the  identity  and  authority  of the
persons  appointed  until a  written  cancellation  of the  appointment,  or the
written appointment of a successor, is received by the Trustee.

     4.03     The Trustee's Reliance on Directions.      The  Trustee  may  rely
              ------------------------------------
upon  directions from the Plan  Administrator  in making payments from the trust
fund.  The Trustee shall have no liability for payments  made, or for failure to
make  payments,  or  for  discontinuing  payments,  on  direction  of  the  Plan
Administrator.  The Trustee shall have no liability for failure to make payments
in the absence of proper written directions.

     The Trustee shall have no  responsibility to determine whether trust assets
are sufficient to meet the  liabilities  under the Plan, and shall not be liable
for payments or Plan liabilities in excess of trust assets.

     4.04     Disputed Payments.       If a dispute arises over the propriety of
              -----------------
any payment  from the trust fund,  the Trustee may  withhold  payment  until the
dispute has been resolved by a court of competent jurisdiction or settled by the
parties to the  dispute.  The  Trustees  may consult its legal  counsel or legal
counsel of the Employer and shall be protected to the extent permitted by law in
acting upon advice of counsel.

     4.05     Trust Expenses.        The Trustee shall be entitled to reasonable
              --------------
compensation  for its  services  as from  time to time  agreed  upon in  writing
between the Trustee  and Charles  Schwab & Co.,  Inc. If the Trustee and Charles
Schwab & Co.,  Inc.  fail to agree upon a  compensation,  the  Trustee  shall be
entitled  to  compensation  at a rate  equal to the  rate  charged  for  similar
services  rendered by it during the preceding  fiscal year. The Trustee shall be
entitled to reimbursement  for actual expenses incurred by it in the performance
of its duties as the Trustee, including reasonable fees for legal counsel.

     4.06     Taxes.     If  the  trust  fund  becomes liable for the payment of
              -----
any taxes, charges or assessments by federal,  state or local units, the Trustee
may pay such taxes,  charges,  or  assessments  out of the trust fund and deduct
those amounts from  payments due to the person whose  interest in the trust fund
was the cause of the tax, charge,  or assessment;  provided,  however,  that the
Trustee  shall  give ten days  notice by mail to the Plan  Administrator  of its
intention to make such payment.

     4.07     Expenses of Administration.         Expenses   incurred   by   the
              --------------------------
Employer or Plan Administrator, Investment Managers, or other persons designated
to act on behalf of the Employer or Plan Administrator,  shall be the obligation
of the Employer.  However, such expenses may be paid from the Trust and upon the
written request of the Employer.

     4.08     Restrictions on Alienation.     The  interest  of  any Participant
              --------------------------
or  Beneficiary  in the trust  fund  shall not be subject to the claims of their
creditors and may not be assigned,  transferred,  alienated, or encumbered.  Any
attempt  at  alienation  shall be void,  and the  Trustee  shall  disregard  any
attempted  alienation.  The trust  assets  shall not be liable for or subject to
debts or torts of any  Participant  or  Beneficiary,  and benefits  shall not be
considered an asset of a Participant in  bankruptcy.  This does not preclude the
Trustee from complying with a qualified  domestic  relations order, as that term
is defined in the Code.

     4.09     Payment on Court Order.        To the extent permitted under ERISA
              ----------------------
and the Code,  the Trustee is authorized to make any payments  directed by court
order in any action in which the Trustee has been named as a party. The Trustees
is not obligated to defend actions in which the Trustee is named by shall notify
the employer or Plan  Administrator or any such action and may tender defense of
the action to the Employer,  Plan  Administrator,  or Participant or Beneficiary
whose interest is affected.  The Trustee may in its discretion defend any action
in which the Trustee is named, and any expenses incurred by the Trustee shall be
a charge  upon the Trust Fund unless paid by the  Employer;  provided,  however,
that in the event of a decision by a court of  competent  jurisdiction  that the
Trustee has  breached its duty under the terms of this  Agreement or ERISA,  the
Trustee shall make reimbursement of such expenses, in whole or in part, pursuant
to the decision of the court.

                                    ARTICLE V
                                    ---------
                                   INVESTMENTS
                                   -----------

     5.01     Management by the Trustee.        The  Trustee  shall  manage  the
              -------------------------
investment of the trust fund unless the Plan Administrator has given the Trustee
written  notice of the  appointment  of an  Investment  Manager or other  person
designated to direct Investment of all or a portion of the trust fund.

     5.02     Investment Manager.         Subject  to  Section  5.05,  the  Plan
              ------------------
Administrator may appoint one or more Investment  Managers to direct the Trustee
in the investment of all or a specified portion of the assets of the trust fund.
The  Plan  Administrator  may  also  remove  any  Investment  Manager.  The Plan
Administrator shall promptly notify the Trustee in writing of the appointment or
removal of any Investment Manager.

     If there is more than one Investment  Manager under  appointment at any one
time,  the  Trustee  shall,  upon  instructions  from  the  Plan  Administrator,
establish separate funds for control by each Investment Manager. The funds shall
consist of those trust  assets or that portion of the trust fund  designated  by
the Plan Administrator.

     Investment  instructions  from  Investment  Mangers to the Trustee shall be
made in writing unless the Trustee consents to receive oral instructions from an
Investment  Manager.  An Investment Manager may issue orders for the purchase or
sale of securities  directly to a broker dealer  provided the Investment  Manger
immediately  notifies  the Trustee in writing of the  issuance of such order and
requires the broker dealer to confirm execution of the order to the Trustee.

     The  Trustee  shall  have no  liability  for the acts or  omissions  of any
Investment  Manager or be under any obligation to invest or otherwise manage any
assets of the trust fund which are subject to control of an Investment  Manager.
If any foreign securities are purchased by the Investment  Manager,  it shall be
the responsibility of the Investment Manager to advise the Trustee in writing of
any laws or regulations, either foreign or domestic, which apply to such foreign
securities or to the receipt of dividends or interest on such securities.

     5.03     Participant Directed Accounts.           In  plans  providing  for
              -----------------------------
Participant  directed accounts,  the Trustee may, upon written instructions from
the Plan Administrator with the Trustee's consent, segregate assets representing
the value of an  individual  Participant's  account under the Plan and allow the
Participant  to  manage  the  investment  of those  assets  attributable  to his
account.  The Trustee  shall have no  obligation  to invest or otherwise  manage
assets earmarked for an individual Participant's account until written notice is
received  from the  Plan  Administrator  terminating  the  Participant  directed
account.  The  Participant  shall have full  investment  responsibility  for the
assets  aggregated for his account and the Trustee shall have no duty to oversee
the  Participant's  investment  except  that  the  Trustee  shall  not  accept a
Participant's  direction  to invest in  "collectibles"  [within  the  meaning of
Section 408(m)(2) of the Code] including,  but not limited to, tangible personal
property such as a work of art, rug, antique, metal, gem, stamp, coin, alcoholic
beverage or any other such property  specified by the Internal  Revenue Service.
Neither the Trustee nor any other  fiduciary  shall be liable for any loss which
results from a Participant's or his  Beneficiary's  exercise of control over the
assets segregated to his individual account.

     5.04     Securities Voting Rights.       Except as provided in Section 5.05
              ------------------------
regarding Employer Securities,  voting or other rights in securities held in the
Trust shall be exercised by the Trustee,  unless an Investment  Manager has been
appointed or the Plan  Administrator  has reserved to itself the  authority,  or
subsequently elects to assume the authority, to exercise voting and other rights
in such  securities.  Where an Investment  Manger has been authorized to acquire
and  dispose  of all or a portion of the  assets of the  Trust,  the  Investment
Manger shall be responsible and liable for voting or exercising  other rights in
the securities subject to its management and control.

     5.05     Employer Securities.
              -------------------
              (a) Employer Securities are required to be purchased  pursuant  to
     the Plan (i)  to  be  the  primary  investment  under  the  employee  stock
     ownership plan  part  of  the  Plan  and  (ii)  to  accommodate  investment
     directions given by Participants  with  respect to the  investment of their
     Accounts under the profit sharing plan part of the Plan  (including  salary
     deferrals and Employer  matching  contributions credited to such Accounts).
     Investment in  such Employer Securities shall be made from  time to time by
     a  direct  issue  of such  Employer  Securities  from  the Employer (in the
     event of Employer  Securities  used  to  fund the employee  stock ownership
     plan  only)  or  by  purchase   through  securities  dealers  or by private
     purchase. However, no private purchase of such Employer Securities shall be
     made at a total cost greater than the total cost  (including  brokers' fees
     and  other  expenses  of  purchase) of  purchasing  such shares at the then
     prevailing  price  of  such  shares  on  the open market,  such  prevailing
     price to be determined by the Trustee as nearly as practicable.
              (b)   Employer  Securities  purchased  as  an  investment  of  the
     employee   stock    ownership   plan   shall   be  purchased   pursuant  to
     directions to the Plan Administrator with regard to such purchase. Employer
     Securities  purchased as an investment of the profit  sharing plan shall be
     purchased at such prices,  in such amounts,  in such manner,  at such times
     and through such broker-dealer as the Trustee may determine in its absolute
     and uncontrolled discretion.
              (c)  Cash  dividends  received  on any Employer Securities held as
     part  of  the  profit  sharing  plan  shall be invested as soon as possible
     in additional shares of Employer Securities. Cash dividends received on any
     Employer  Securities  held as an investment of the employee stock ownership
     plan shall be invested as directed by the Plan Administrator.
              (d) The Trustee shall invest funds awaiting investment in Employer
     Securities in the manner authorized by Section 7.01(e).
              (e)  All  Employer  Securities  purchased  by  the Truste shall be
     registered   in  the  name  of  the  Trustee or its nominee and legal title
     to  such  Employer  Securities  shall  remain  in  the  Trustee  until  the
     Participant  shall become entitled to distribution  thereof pursuant to the
     Plan.
              (f)  Voting  or  proxy  or  other  rights with respect to Employer
     Securities   shall  be  disposed  of  as  provide  in  this  Section.  With
     respect  to  Employer   Securities  that  are  allocated  to  Participants'
     Accounts,  each  Participant  shall be entitled to direct the Trustee as to
     the manner in which such Employer  Securities then allocated to his Account
     shall be voted. Such directions may be achieved through the use of proxy or
     similar  statements  delivered  to the  Participants  with  respect  to the
     Employer  Securities  allocated to their Accounts.  The Plan  Administrator
     shall provide any information requested by the Trustee that is necessary or
     convenient in connection with obtaining and preserving the  confidentiality
     of the Participants'  directions.  Any allocated  Employer  Securities with
     respect to which Participants are entitled to issue directions  pursuant to
     the foregoing and for which such directions are not received by the Trustee
     shall  not be voted by the  Trustee  unless  the  Trustee  is  required  to
     exercise its  discretion  in voting such  Employer  Securities  pursuant to
     ERISA. All unallocated Employer Securities shall be voted by the Trustee at
     the direction of the Plan Administrator; provided, however, that subject to
     the requirements of ERISA, the Plan Administrator  shall direct the Trustee
     to vote such unallocated  Employer Securities in the same proportion as the
     share of Employer Securities for which Participant voting instructions have
     been received as provided in the agreement between the Employer and the New
     York Stock Exchange.

                                   ARTICLE VI
                                   ----------
                   FIDUCIARY RESPONSIBILITIES AND INDEMNITIES
                   ------------------------------------------

     6.01     Relationship of Fiduciaries.    Each  fiduciary  of  the  Plan and
              ---------------------------
this  Trust  shall be  solely  responsible  for his own acts or  omissions.  The
Trustee  shall have no duty to question  any other  fiduciary's  performance  of
fiduciary duties allocated to other  fiduciaries by the Plan  Administrator.  No
fiduciary  shall be  responsible  for  breach  by  another  fiduciary  unless he
participates  knowingly  in,  or  knowingly  undertakes  to  conceal,  an act or
omission of such other fiduciary,  knowing such act or omission is a breach;  he
has  actual  knowledge  of a breach by such  other  fiduciary  and fails to make
reasonable  effort under the  circumstances to remedy the breach; or his failure
to perform his own specific  fiduciary  duties has enabled another  fiduciary to
commit a breach.

     6.02     Benefits of Participants.      A  fiduciary  shall  discharge  his
              ------------------------
duties  with  respect  to the Plan  and  Trust  solely  in the  interest  of the
Participants and their  Beneficiaries and for the exclusive purpose of providing
benefits  to  Participants  and their  Beneficiaries  and  defraying  reasonable
expenses of the Plan.

     6.03     Duty of Care.      A fiduciary shall discharge his duties with the
              ------------
care, skill,  prudence,  and diligence under the  circumstances  then prevailing
that a prudent man acting in like  capacity and familiar with such matters would
use in the conduct of an enterprise of a like  character and with like aims; and
in accordance  with the documents  and  instruments  governing the Plan and this
Trust. A fiduciary  managing  investments  shall diversify  investments so as to
minimize the risk of large losses,  unless under the circumstances it is clearly
prudent not to do so.

     6.04     Indicia of Ownership.        Except as authorized by regulation by
              --------------------
the  Secretary of the  Department  of Labor,  the Trustee shall not maintain the
indicia of ownership of any assets of the trust fund outside the jurisdiction of
the district courts of the United States.

     6.05     The Trustee's Reliance.        The Trustee shall have no liability
              ----------------------
to any Participant,  Beneficiary, or any other person for payments made, failure
to make  payments,  or  discontinuance  of  payments,  on  direction of the Plan
Administrator;  or for failure to make  payments in the absence of  instructions
from the Plan Administrator.

     Except as provided in Section  5.05,  the Trustee may request  instructions
from the Plan Administrator.  The Trustee shall have no duty to act or liability
for  failure  to act if such  instructions  are not  forthcoming  from  the Plan
Administrator.  If requested  instructions  are not received within a reasonable
time,  the Trustee may,  but is under no duty to, act on its  direction to carry
out the provisions of the Plan and Trust.

     6.06     Indemnities.     The Employer shall indemnify and hold the Trustee
              -----------
and trust fund  harmless  against any loss or  liability,  including  reasonable
attorney's  fees,  imposed  upon the  Trustee  as a result of any acts  taken in
accordance  with  written  directions  (or failure to act in the absence of such
directions) from the Plan Administrator,  Investment Manger, or any other person
designated  to act on their  behalf,  or by reason of the  Trustee's  good faith
execution of its duties in the administration of this trust, except in the event
of the Trustee's  negligence in performing its own specific  fiduciary duties as
described under this Trust Agreement and under ERISA.

     If the trust ceases to be a tax-exempt  trust under Section 401 and Section
501 of the Code,  the Employer  shall  indemnify  the Trustee for any federal or
state taxes which the Trustee is required to pay as a result of the distribution
made at the direction of the Plan Administrator.

     6.07     Responsibility with Respect to Securities Law.     It shall be the
              ---------------------------------------------
responsibility  of the  Plan  Administrator,  and not  the  Trustee,  to  assure
compliance with all requirements imposed under the securities laws of the United
States or any State,  including,  but not  limited to,  registration  and filing
requirements.  The Trustee is hereby specifically  indemnified and held harmless
for any loss or liability it may incur, or for any penalties that may be imposed
as  a  result  of  the  Plan   Administrator's   failure  to  comply  with  such
requirements.

                                   ARTICLE VII
                                   -----------
                              POWERS OF THE TRUSTEE
                              ---------------------

     7.01     Investment Powers.      The Trustee, except as provided in Article
              -----------------
V, and only to the extent it has not received  directions pursuant to Article V,
is authorized and empowered in its sole discretion:
              (a) To invest and reinvest trust assets,  together with the income
     therefrom,  in  common  stock,   preferred  stock,   convertible  preferred
     stock,  bonds,  debentures,  convertible  debentures and bonds,  mortgages,
     notes, time certificates of deposit, commercial paper and other evidence of
     indebtedness  (including  those  issued by the  Trustee or any  affiliate),
     other securities, policies of life insurance, annuity contracts, options or
     buy or sell securities or other assets,  and property  (personal,  real, or
     mixed, and tangible or intangible);
              (b) To  deposit  or  invest  all or any part of the  assets of the
     trust  in  savings  accounts  or  certificates of deposit or other deposits
     which bear a reasonable  interest rate in a bank,  including the commercial
     department of the Trustee,  if such bank is supervised by the United States
     or a State;
              (c) To hold,  manage,  improve,  repair and control all  property,
     real  or  personal,  forming  part  of  the trust assets; to sell,  convey,
     transfer,  exchange,  partition,  lease for any term, even extending beyond
     the duration of this trust, and otherwise  dispose of the same from time to
     time in such  manner,  for such  consideration,  and upon  such  terms  and
     conditions as the Trustee shall determine.
              (d) To have,  respecting  securities,  all the rights,  powers and
     privileges  of  an  owner,  including   the  power  to  give  proxies,  pay
     assessment  and other sums  deemed by the Trustee to be  necessary  for the
     protection of the trust fund, to vote any corporate  stock either in person
     or by proxy,  with or without power of  substitution,  for any purpose;  to
     participate   in   voting   trusts,   pooling   agreements,   foreclosures,
     reorganizations,   consolidations,   mergers  and   liquidations,   and  in
     connection  therewith to deposit  securities with and transfer title to any
     protective  or other  committee  under such terms as the  Trustee  may deem
     advisable;  to exercise or sell stock  subscriptions or conversion  rights;
     and, regardless of any limitation  elsewhere in this instrument relative to
     investment  by the  Trustee,  to accept  and  retain as an  investment  any
     securities or other  property  received  through the exercise of any of the
     foregoing powers;
              (e) In the ordinary  course of  administration  of the trust fund,
     all   uninvested   cash   balances  shall   be   invested   in  short  term
     obligations,  including  obligations of the United States of America or any
     agency or instrumentality  thereof,  trust and participation  certificates,
     beneficial  interests in any trust and such other short term obligations as
     the Trustee deems to be appropriate for such interim  investment  purposes,
     including  the  Short  Term  Investment  Fund  maintained  by the  Trustee;
     provided,  however, that the Trustee may hold in cash without liability for
     interest  such  portion of the trust fund that in its  discretion  shall be
     reasonable  under the  circumstances,  pending  investments,  or payment of
     expenses, or the distribution of benefits;
              (f) To take such  actions  as may be  necessary  or  desirable  to
     protect  the  trust  from  loss,  including  the  appointment  of agents or
     trustees in such other  jurisdictions  as may seem  desirable,  to transfer
     property to such agents or trustees,  to grant such powers as are necessary
     or  desirable  to protect the trust or its assets,  to direct such agent or
     trustee,  or to delegate such power to direct,  and to remove such agent or
     trustee;
              (g) To employ such agents including  custodians and counsel as may
     be  reasonably  necessary  and  to  pay  them reasonable  compensation;  to
     settle, compromise or abandon all claims and demands in favor of or against
     the trust assets;
              (h) To cause title to property of the trust to be issued,  held or
     registered  in  the  individual  name  of  the  Trustee,  or in the name of
     its nominee(s) or agents, or in such form that title will pass by delivery;
              (i) To exercise  all of the further  rights,  powers,  options and
     privileges  granted,  provided  for,  or  vested   in   trustees  generally
     under the laws of the State of  California,  so that the  powers  conferred
     upon  the  Trustee  herein  shall  not be in  limitation  of any  authority
     conferred by law, but shall be in addition thereto;
              (j)  To  borrow  money  from  any  source  to  purchase   Employer
     Securities  and  to  execute  promissory  notes or other obligations and to
     pledge or mortgage  any trust  assets as  security,  subject to  applicable
     requirements  of the Code and  ERISA;  provided,  however,  that any  money
     needed for the purchase of Employer  Securities  shall not be borrower from
     the Trustee;
              (k) To lend  certificates  representing  stocks,  bonds,  or other
     securities   to  any  brokerage  or  other  firm  selected  by the Trustee,
     provided such loans are adequately secured; and
              (l) To do all other acts  necessary  or  desirable  for the proper
     administration  of the Trust assets,  as  if  the Trustee were the absolute
     owner thereof.

     7.02     Securities Depositories.     Notwithstanding  anything  herein  to
              -----------------------
the contrary,  the Trustee in its  discretion  is  authorized to use  securities
depositories or custodians. Further, such securities as are held by a depository
or custodian may be registered in the name of such  depository or its nominee or
in the name of such custodian or its nominee.

     7.03     Investment in Common Trust Funds.            Notwithstanding   any
              --------------------------------
provision herein to the contrary,  the Trustee is hereby expressly authorized to
invest in any common, collective or pooled fund maintained by the Trustee or any
other  bank or trust  company  and the  Declarations  of Trust  establishing  or
amending such funds are hereby incorporated by reference into this Agreement.

                                  ARTICLE VIII
                                  ------------
                             ACCOUNTS OF THE TRUSTEE
                             -----------------------

     8.01     Records.      The  Trustee  shall  maintain  accurate  records and
              -------
accounts of all trust transactions and assets. The records and accounts shall be
available at reasonable  times for  inspection or audit by any person or persons
designated by the Plan Administrator.

     8.02     Reports.       Within ninety days following the close of each Plan
              -------
Year, or the effective date of the removal or  resignation  of the Trustee,  the
Trustee shall file with the Plan  Administrator  a written account setting forth
all  transactions  since  the end of the  period  covered  by the last  previous
accounting.  The report  shall  include a listing of the trust  assets,  showing
carrying and market values of such assets at the close of the period  covered by
the account. On direction of the Plan Administrator, the Trustee shall submit to
the Plan Administrator interim valuations, reports, or other information.

     The Plan  Administrator  may approve  the  accounting  by written  approval
delivered  to the  Trustee or by failure to  deliver  written  objection  to the
Trustee within sixty days after receipt of the accounting.

     8.03     Valuation.       Trust assets shall be valued at fair market value
              ---------
on the date of  valuation,  as determined by the Trustee based upon such sources
of  information  as it may deem  reliable  including,  but not limited to, stock
market  quotations,  statistical  evaluation  services,  newspapers  of  general
circulation,  financial  publications,  advice  from  investment  counselors  or
brokerage  firms, or any  combination of sources.  The value of unlisted or very
thinly  traded  company  stock  shall be based on an  appraisal  by a  qualified
independent appraiser acceptable to the Trustee.

     The Plan Administrator shall instruct the Trustee as to the value of assets
for which market  value is not readily  obtainable  by the Trustee.  If the Plan
Administrator  fails to provide  values the Trustee may take whatever  action it
deems  reasonable,  including  employment  of  attorneys,  appraisers  or  other
professions,  the expense of which will be an expense of the  administration  of
the trust.

                                   ARTICLE IX
                                   ----------
                  RESIGNATION AND REMOVAL OF THE TRUSTEE
                  --------------------------------------

     9.01     Resignation.      The  Trustee  may  resign  at  any  time upon at
              -----------
least thirty days written notice to Charles Schwab & Co., Inc.

     9.02     Removal.    Charles Schwab & Co., Inc. may remove the Trustee upon
              -------
at least thirty days written notice to the Trustee.

     9.03     Appointment of a Successor.     Upon  resignation  or  removal  of
              --------------------------
the  Trustee,  Charles  Schwab  & Co.,  Inc.,  by  resolution  of its  Board  of
Directors,  shall  appoint a  successor  trustee.  Upon  failure of the Board of
Directors to appoint a successor trustee by the effective date of resignation or
removal,  the  individual  members of the Board of Directors of Charles Schwab &
Co., Inc.  shall become  successor  trustee until another  successor  trustee is
appointed.

     Upon appointment of the successor  trusteethe  Trustee shall deliver to the
successor  trustee  such  records as may be  reasonably  required  to enable the
successor  trustee  properly to administer  the trust fund, and shall deliver to
the successor  trustee all property of the trust after deducting such amounts as
the Trustee deems necessary to provide for expenses, compensation, and taxes.

     9.04     Settlement of Account.        Upon  resignation  or  removal,  the
              ---------------------
Trustee  shall have the right to a settlement  of its account  which  settlement
shall be made, at the Trustee's options,  either by a judicial  settlement in an
action instituted by the Trustee,  or by an agreement of settlement  between the
Trustee and the Employer.

     9.05     Indemnity for Expenses and Compensation.       The  Trustee  shall
              ---------------------------------------
not be  obligated  to  transfer  assets  of  the  trust  until  the  Trustee  is
indemnified in a manner  satisfactory to it for all fees and expenses reasonably
anticipated.

     9.06     Termination of Liability.       Upon settlement of its account and
              ------------------------
transfer of the trust assets to the successor trustee, all rights and privileges
under the Plan and this Trust Agreement shall vest in the successor  trustee and
thereafter  liability of the Trustee shall terminate with respect to acts of the
successor  trustee not related to prior acts of the Trustee  subject only to the
requirement  that the Trustee  execute all  necessary  documents to transfer the
trust assets to the successor trustee.

                                    ARTICLE X
                                    ---------
                            AMENDMENT AND TERMINATION
                            -------------------------

     10.01    Amendment.      The  Trustee  and  Charles  Schwab & Co., Inc. may
              ---------
amend any or all of the  provisions of this Trust  Agreement.  Amendments to the
Trust  Agreement  shall be executed by two officers of the Trustee and a copy of
such amendments shall be mailed to Charles Schwab & Co., Inc. No amendment shall
be made which will permit any part of the trust fund to be used for, or diverted
to,  purposes  other  than  the  exclusive  benefit  of  Participants  or  their
Beneficiaries.

     10.02    Termination.        The trust is irrevocable but may be terminated
              -----------
by Charles  Schwab & Co.,  Inc. by resolution of its Board of Directors and with
at least sixty days  written  notice to the  Trustee.  Upon  termination  of the
trust,   the  trust  assets  shall  be  distributed  as  directed  by  the  Plan
Administrator; provided, however, that the Trustee shall not be required to make
any  distribution  prior to receipt of a determination  letter from the Internal
Revenue  Service that the  termination  does not affect the tax exempt status of
the plan and trust.  In the event the plan is not  required  to obtain the prior
approval of the  Internal  Revenue  Service,  the  Trustee  may, in lieu of such
determination  letter,  accept an indemnification of the Trustee by the Employer
for any  liability  the  Trustee may incur for  compliance  with  directions  to
distribute the assets of the Trust, including taxes and attorney's fees.

     10.03    Failure to Maintain Qualification.      If the Plan and Trust fail
              ---------------------------------
to qualify or the Plan loses it status as a Qualified  Plan,  the  Trustee  may,
without  notice or  direction,  remove the trust fund  assets from any common or
collective  trust fund or pooled  investment  fund maintained by the Trustee for
investments by Qualified Plans.

                                   ARTICLE XI
                                   ----------
                                  MISCELLANEOUS
                                  -------------

     11.01    Participation by Affiliated Companies.      Any company affiliated
              -------------------------------------
with the  Employer  may become a party to this Trust  Agreement  by adopting the
Employer's Plan and this Trust Agreement.

     11.02    Multiple Plans.     With the consent of the Trustee, the assets of
              --------------
two or more Qualified Plans maintained by the Employer and affiliated  companies
may be maintained as one trust and their assets may be commingled.

     11.03    Exclusive Benefit Rule.       Except as provided in Section 11.04,
              ----------------------
no part of the  principal or income of this trust shall be used for, or diverted
to,  purposes  other  than  the  exclusive  benefit  of  Participants  or  their
Beneficiaries or for the reasonable expenses of administering the Plan until all
liabilities  for  benefits due  Participants  or their  Beneficiaries  have been
satisfied.

     11.04    Refunds to Employer.      Notwithstanding  the  foregoing  Section
              -------------------
11.03,  if the Internal  Revenue Service finds that this Plan does not initially
meet the  requirements  of a qualified  plan whose  trust is a  qualified  trust
exempt from  federal  income tax, the Trustee may within one year after the date
the  initial  qualification  is  denied  and upon  written  directions  from the
Employer,  return any initial  contribution  made by the  Employer and the trust
shall then be terminated.

     The Trustee may, upon instructions from the Plan  Administrator,  return to
the Employer or individual Participants contributions made on mistake of fact or
in excess of the amount  determined to be deductible by the Employer  within one
year of the date the  contribution  was made, or within one year of the date the
deduction for the Employer was disallowed.

     11.05    Construction.       The Trust will be administered in the State of
              ------------
California,  and its validity,  construction  and all rights  hereunder shall be
governed by ERISA and, to the extent not  preempted,  by the laws of California.
If the provisions of this Trust  Agreement and the Plan shall be inconsistent or
otherwise  in  conflict  regarding  the  rights,  duties or  obligations  of the
Trustee,  the provisions of this Agreement  shall control.  If any provisions of
this Agreement shall be ruled invalid or unenforceable, the remaining provisions
thereof shall continue to be fully effective.

     Headings or subheading  are inserted for  convenience of reference only and
are not to be  considered  in the  construction  of the  provisions of the Trust
Agreement.

     11.06    Execution and Counterparts.        This  Trust  Agreement  may  be
              --------------------------
executed in several  counterpart,  each of which shall be deemed an original and
said counterparts  shall constitute but one instrument which may be sufficiently
evidenced by any one counterpart.

     11.07    Successors and Assigns.      This Trust Agreement shall  inure  to
              ----------------------
the  benefit  of  any and shall be binding upon, the parties and their successor
and assigns.

     11.08    Gender.      As used in this Trust Agreement, the masculine gender
              ------
shall include the feminine and neuter genders and the singular shall include the
plural and the plural the singular as the context requires.

     Executed by the  Employer and the Trustee on 10/25,  1990,  effective as of
                                                  -----

11/01, 1990.
-----

                           CHARLES SCHWAB & CO., INC.

                         By: /s/ Charles R. Schwab
                             -------------------------
                         Its: Chairman/CEO
                             -------------------------

                         SECURITY PACIFIC NATIONAL BANK

                         By: /s/ Mary Lau
                             -------------------------
                         Its: Assistant Vice President
                             -------------------------
                         By:
                             -------------------------
                         Its:
                             -------------------------Exhibit 10.1
                                    ADDENDUM

      On July 18, 2000, the Transition Agreement dated February 18, 2000 between
Michael R. Kleine and Thermo Electron Corporation was amended to provide that
Thermo Electron would guarantee the payment to Mr. Kleine of a minimum bonus of
$200,000 upon the sale of Thermo Cardiosystems.

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