Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the Insureds. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, or shall make the Trust revocable. (b) The Trust shall not terminate until the date on which all Premium Obligations have been paid in full. Upon termination of the Trust, any assets remaining in the Trust shall be returned to the Company. (c) Upon prior written approval of all then living Insureds, the Company may terminate this Trust prior to the time all Premium Obligations have been satisfied. All assets in the Trust at termination shall be returned to the Company.
Appears in 6 contracts
Sources: Split Dollar Life Insurance Agreement (Matria Healthcare Inc), Split Dollar Life Insurance Agreement (Matria Healthcare Inc), Split Dollar Life Insurance Agreement (Matria Healthcare Inc)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoingforegoing comment, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plans or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section 1(b) hereof.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid the Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans unless sooner revoked in fullaccordance with Section 1(b) hereof. Upon termination of the Trust, any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plans, the Company may terminate this Trust prior to the time all Premium Obligations benefits payable under the Plans have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 3 contracts
Sources: Compensation Trust Amendment (Nu Skin Enterprises Inc), Compensation Trust Amendment (Nu Skin Enterprises Inc), Compensation Trust Amendment (Nu Skin Enterprises Inc)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plan or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section 1(b) hereof.
(b) The Trust shall not terminate until the date on which Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan and all Premium Obligations expenses of the Trust have been paid unless sooner revoked in fullaccordance with Section 1(b) hereof. Upon termination of the Trust, any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval No provision of all then living Insureds, the Company may terminate this Trust prior Agreement may be amended by Company in any manner adverse to the time all Premium Obligations have been satisfied. All assets Plan participants and beneficiaries following a Change in the Trust at termination shall be returned to the CompanyControl.
Appears in 2 contracts
Sources: Trust Agreement (Shorewood Packaging Corp), Trust Agreement (Shorewood Packaging Corp)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with only if such amendment does not have an adverse effect upon the prior written approval participants and their rights hereunder or if the amendment is approved in writing by 90 percent of all of the Insuredsparticipants. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plans or shall make the Trust revocable.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid in fullPlan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plans, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plans have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 2 contracts
Sources: Grantor Trust Agreement (Eaton Corp), Grantor Trust Agreement (Eaton Corp)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plan or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section 1(b) hereof.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan, unless sooner revoked in fullaccordance with Section 1(b) hereof. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plan, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plan have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 2 contracts
Sources: Trust Agreement (Angelica Corp /New/), Trust Agreement (CNB Financial Corp /Ny/)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plans or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section 1(b) hereof.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid Participants and their Beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans, unless sooner revoked in fullaccordance with Section 1(b) hereof. Upon termination of the Trust, any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living InsuredsParticipants or Beneficiaries entitled to payment of benefits pursuant to the terms of the Plans, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plans have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 2 contracts
Sources: Trust Agreement (Peoples Energy Corp), Trust Agreement (Peoples Energy Corp)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with Company; provided, however, that no amendment that alters or impairs the rights of any Executive hereunder (including, but not limited to an amendment that changes or eliminates any of the available investment options described in Section 5 hereof) may be made without the prior written approval of all consent of the Insureds. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, or shall make the Trust revocableaffected Executive.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid in fullthe Executives and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Deferred Compensation Agreements. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insureds, the Company may terminate this Trust prior Executives or their beneficiaries entitled to payment of benefits pursuant to the time all Premium Obligations have been satisfied. All assets in terms of the Trust at termination shall be returned to the Company.Deferred Compensation
Appears in 1 contract
Sources: Deferred Compensation Agreement (Polo Ralph Lauren Corp)
Amendment or Termination. (a) 12.1 This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plan or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section 1.2 hereof. Notwithstanding the above, amendments to conform to tax law or to fully carry out and implement the terms of the Plan shall be freely allowed.
(b) 12.2 The Trust shall not terminate until the date on which all Premium Obligations have been paid in fullthe Plan Participant and his beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) 12.3 Upon prior written approval of all then living Insuredsthe Plan Participant or beneficiaries entitled to payment of benefits pursuant to the terms of the Plan, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plan have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Sources: Supplemental Executive Retirement Plan (Shiloh Industries Inc)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall (i) conflict with the terms of the AgreementsPlan, shall infringe on or (ii) add any additional plans to the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereoftrust obligations, or shall make the Trust revocable after it has become irrevocable in accordance with Section 1(b) hereof or (iii) make the Trust revocable.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid in fullPlan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan. Upon termination of the Trust, any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living InsuredsPlan participants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plan, the Company may terminate this the Trust prior to the time all Premium Obligations benefit payments under the Plan have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plan or shall make the Trust revocable.revocable after it has become irrevocable in accordance with Section 1(b) hereof
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan, "unless sooner revoked in full. accordance with Section 1(b) hereof" Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursUant to the terms of the Plan, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plan have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no so such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plan or shall make the Trust revocable.revocable after it has become irrevocable in accordance with Section I(b) hereof
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan unless sooner revoked in fullaccordance with Section I(b) hereof. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plan, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plan have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Sources: Rabbi Trust Agreement (Sage Life Assurance of America Inc)
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on Plan or the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Amendments or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section 1(b) hereof.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plan or the Amendments, unless sooner revoked in fullaccordance with Section 1(b) hereof. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plan or the Amendments, the Company may terminate this Trust Agreement prior to the time all Premium Obligations benefit payments under the Plan have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Sources: Trust Agreement (Aeroflex Inc)
Amendment or Termination. (a) This Trust Agreement Plan may be amended by a written instrument executed by the Trustee and the Company with the prior written approval of all of the InsuredsCompany. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, Plans or shall make the Trust revocablerevocable after it has become irrevocable in accordance with Section l(b) hereof.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid Plan participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans unless sooner revoked in fullaccordance with Section l(b) hereof. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsparticipants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plans, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Plans have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Amendment or Termination. (a) This Trust Agreement may be amended by a written instrument executed by the Trustee and the Company with Company; provided, however, that no amendment that alters or impairs the rights of any Executive hereunder (including, but not limited to an amendment that changes or eliminates any of the available investment options described in Section 5 hereof) may be made without the prior written approval of all consent of the Insureds. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Agreements, shall infringe on the rights of the Insureds under the Agreements, reduce or restrict the assets that are the subject of the Trust, other than as required by Section 3 hereof, or shall make the Trust revocableaffected Executive.
(b) The Trust shall not terminate until the date on which all Premium Obligations have been paid in fullthe Executives and their beneficiaries are no longer entitled benefits pursuant to the terms of the Employment Agreements. Upon termination of the Trust, Trust any assets remaining in the Trust shall be returned to the Company.
(c) Upon prior written approval of all then living Insuredsthe Executives or their beneficiaries entitled to payment of benefits pursuant to the terms of the Employment Agreements, the Company may terminate this Trust prior to the time all Premium Obligations benefit payments under the Employment Agreements have been satisfiedmade. All assets in the Trust at termination shall be returned to the Company.
Appears in 1 contract
Sources: Trust Agreement (Chartwell Re Corp)