Establishment and Title of the Trust. Employer hereby establishes with the Trustee a trust to be known as the Data General Corporation Deferred Compensation Trust (the "Trust"), to accept such sums of money and other property acceptable to the Trustee as from time to time shall be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereon, less all payments and charges as authorized herein, are hereinafter referred to as the "Trust Fund". The Trust Fund shall be held by the Trustee in trust and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to participants and beneficiaries of the Plan (collectively referred to as the "Trust Beneficiaries") and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments required by this Trust Agreement have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the general creditors of Employer as and to the extent set forth in Section 9 of this Trust Agreement. The Trust hereby established shall be irrevocable.
Appears in 1 contract
Sources: Trust Agreement (Data General Corp)
Establishment and Title of the Trust. Employer 1.1. The Company hereby establishes reaffirms its establishment with the Trustee a trust to be known as of the Data General Corporation Deferred Compensation Trust (the "Trust"), to accept such sums of money and other property property, including without limitation one or more insurance or annuity contracts, acceptable to the Trustee as from time to time shall may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereonprof its thereon that are not paid to the Company as provided in Section 6.1 of this Trust Agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "“Trust Fund". “ The Trust Fund shall be held by the Trustee in trust and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants and beneficiaries of the Plan (collectively referred to as the "Trust Beneficiaries") and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments required by this Trust Agreement have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the general creditors of Employer the Company as and to the extent set forth in Section 9 7 of this Trust Agreement. The Trust hereby established shall be irrevocable.
Appears in 1 contract
Sources: Trust Agreement (Conocophillips)
Establishment and Title of the Trust. Employer The Bank hereby establishes with the Trustee a trust to be known as trust, hereinafter called “the Data General Corporation Deferred Compensation Trust (the "Trust"), ,” to accept such sums of money and other property including without limitation one or more insurance or annuity contracts, acceptable to the Trustee as from time to time shall may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereonthereon that are not paid to the Bank as provided in Paragraph 7 of this trust agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "“Trust Fund". .” The Trust Fund shall be held by the Trustee in trust TRUSTEE IN TRUST and shall be dealt with in accordance with the provisions of this Trust Agreementtrust agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants and beneficiaries of the Plan (collectively referred to as the "Trust Beneficiaries") and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement trust agreement until all such payments required by this Trust Agreement have been made; , provided, however, that the Trust Fund shall at all times be subject to the claims of the general creditors of Employer the Bank as and to the extent set forth in Section 9 Paragraph 8 of this Trust Agreement. The Trust hereby established shall be irrevocabletrust agreement.
Appears in 1 contract
Establishment and Title of the Trust. Employer 1.1 The Company hereby establishes reaffirms its establishment with the Trustee a trust to be known as of the Data General Corporation Deferred Compensation Trust (the "Trust"), to accept such sums of money and other property property, including without limitation one or more insurance or annuity contracts, acceptable to the Trustee as from time to time shall may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereonthereon that are not paid to the Company as provided in Section 6.1 of this Trust Agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "Trust Fund". ." The Trust Fund shall be held by the Trustee in trust and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants and beneficiaries of the Plan (collectively referred to as the "Trust Beneficiaries") and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments required by this Trust Agreement have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the general creditors of Employer the Company as and to the extent set forth in Section 9 7 of this Trust Agreement. The Trust hereby established shall be irrevocable.
Appears in 1 contract
Sources: Trust Agreement (Conocophillips)
Establishment and Title of the Trust. Employer 1.1 The Company hereby establishes with the Trustee a trust to be known as the Data General Corporation Deferred Compensation Trust (the "Trust"), to accept such sums of money and other property acceptable to the Trustee as from time to time shall may be paid or delivered to the Trustee. All such money and other property, all investments and reinvestments made therewith or proceeds thereof and all earnings and profits thereonthereon that are not paid to the Company as provided in Section 7.1 of this Trust Agreement, less all payments and charges as authorized herein, are hereinafter referred to as the "Trust Fund". The Trust Fund shall be held by the Trustee in trust IN TRUST and shall be dealt with in accordance with the provisions of this Trust Agreement. The Trust Fund shall be held for the exclusive purpose of providing payments to the participants and beneficiaries of the Plan (collectively referred to as the "Trust Beneficiaries") and their beneficiaries and defraying reasonable expenses of administration in accordance with the provisions of this Trust Agreement until all such payments required by this Trust Agreement have been made; provided, however, that the Trust Fund shall at all times be subject to the claims of the general creditors of Employer the Company as and to the extent set forth in Section 9 8 of this Trust Agreement. The Trust hereby established shall be irrevocable6 SECTION 2.
Appears in 1 contract
Sources: Non Qualified Deferred Compensation Plan (Brunswick Bancorp)