Common use of Funding of Grantor Trust upon Change in Control Clause in Contracts

Funding of Grantor Trust upon Change in Control. Fulton shall establish and maintain with an unaffiliated trustee an ixxxxxxable grantor trust (the "TRUST"), the assets of which shall at all times be subject to the claims of Fulton's creditors in the event of Fulton's insolvency. Upon the occuxxxxxx xf a Change in Control, Fultxx xxxxx deposit with the trustee of the Trust, to be credited to xx xxcount established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton to the Executive under this Agreement that would arise in the xxxxx that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton without Cause or the Executive terminates his own employment fxx Xxxd Reason. The contingent obligations to be funded under the Trust shall include in particular those specified in Section 6 and Section 7.8 hereof. In the event the Executive's entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's account under the Trust shall revert to Fulton.

Funding of Grantor Trust upon Change in Control. Fulton Fxxxxx shall establish and maintain with an unaffiliated trustee an ixxxxxxable irrevocable grantor trust (the "TRUST"“Trust”), the assets of which shall at all times be subject to the claims of Fulton's Fxxxxx’x creditors in the event of Fulton's Fxxxxx’x insolvency. Upon the occuxxxxxx xf occurrence of a Change in Control, Fultxx xxxxx Fxxxxx shall deposit with the trustee of the Trust, to be credited to xx xxcount an account established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton Fxxxxx to the Executive under this Agreement that would arise in the xxxxx event that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton Fxxxxx without Cause or the Executive terminates his own employment fxx Xxxd for Good Reason. The contingent obligations to be funded under the Trust shall include in particular those specified in Section 6 and Section 7.8 hereof. In the event the Executive's ’s entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's ’s account under the Trust shall revert to FultonFxxxxx.

Funding of Grantor Trust upon Change in Control. Fulton Xxxxxx shall establish and maintain with an unaffiliated trustee an ixxxxxxable irrevocable grantor trust (the "TRUST"“Trust”), the assets of which shall at all times be subject to the claims of Fulton's Xxxxxx’x creditors in the event of Fulton's Xxxxxx’x insolvency. Upon the occuxxxxxx xf occurrence of a Change in Control, Fultxx xxxxx Xxxxxx shall deposit with the trustee of the Trust, to be credited to xx xxcount an account established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton Xxxxxx to the Executive under this Agreement that would arise in the xxxxx event that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton Xxxxxx without Cause or the Executive terminates his the Executive’s own employment fxx Xxxd for Good Reason. The contingent obligations to be funded under the Trust shall include include, in particular particular, those specified in Section 6 and Section 7.8 hereof. In the event the Executive's ’s entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's ’s account under the Trust shall revert to FultonXxxxxx.

Funding of Grantor Trust upon Change in Control. Fulton Xxxxxx shall establish and maintain with an unaffiliated trustee an ixxxxxxable irrevocable grantor trust (the "TRUST"), the assets of which shall at all times be subject to the claims of Fulton's Xxxxxx'x creditors in the event of Fulton's Xxxxxx'x insolvency. Upon the occuxxxxxx xf occurrence of a Change in Control, Fultxx xxxxx Xxxxxx shall deposit with the trustee of the Trust, to be credited to xx xxcount an account established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton Xxxxxx to the Executive under this Agreement that would arise in the xxxxx event that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton Xxxxxx without Cause or the Executive terminates his own employment fxx Xxxd for Good Reason. The contingent obligations to be funded under the Trust shall include in particular those specified in Section 6 and Section 7.8 hereof. In the event the Executive's entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's account under the Trust shall revert to FultonXxxxxx.

Funding of Grantor Trust upon Change in Control. Fulton Xxxxxx shall establish and maintain with an unaffiliated trustee an ixxxxxxable irrevocable grantor trust (the "TRUST"“Trust”), the assets of which shall at all times be subject to the claims of Fulton's Xxxxxx'x creditors in the event of Fulton's Xxxxxx'x insolvency. Upon the occuxxxxxx xf occurrence of a Change in Control, Fultxx xxxxx Xxxxxx shall deposit with the trustee of the Trust, to be credited to xx xxcount an account established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton Xxxxxx to the Executive under this Agreement that would arise in the xxxxx event that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton Xxxxxx without Cause or the Executive terminates his own employment fxx Xxxd for Good Reason. The contingent obligations to be funded under the Trust shall include in particular those specified in Section 6 and Section 7.8 hereof. In the event the Executive's entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's account under the Trust shall revert to FultonXxxxxx.

Funding of Grantor Trust upon Change in Control. Fulton shall establish and maintain with an unaffiliated trustee an ixxxxxxable irrevocable grantor trust (the "TRUST"“Trust”), the assets of which shall at all times be subject to the claims of Fulton's Xxxxxx'x creditors in the event of Fulton's Xxxxxx'x insolvency. Upon the occuxxxxxx xf occurrence of a Change in Control, Fultxx xxxxx Fulton shall deposit with the trustee of the Trust, to be credited to xx xxcount an account established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton to the Executive under this Agreement that would arise in the xxxxx event that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton without Cause or the Executive terminates his own employment fxx Xxxd for Good Reason. The contingent obligations to be funded under the Trust shall include in particular those specified in Section 6 and Section 7.8 hereof. In the event the Executive's entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's account under the Trust shall revert to Fulton.

Funding of Grantor Trust upon Change in Control. Fulton Xxxxxx shall establish and maintain with an unaffiliated trustee an ixxxxxxable irrevocable grantor trust (the "TRUST"“Trust”), the assets of which shall at all times be subject to the claims of Fulton's Xxxxxx'x creditors in the event of Fulton's Xxxxxx'x insolvency. Upon the occuxxxxxx xf occurrence of a Change in Control, Fultxx xxxxx Xxxxxx shall deposit with the trustee of the Trust, to be credited to xx xxcount an account established under the Trust in the name of and for the benefit of the Executive, assets sufficient in value to satisfy fully the obligations of Fulton Xxxxxx to the Executive under this Agreement that would arise in the xxxxx event that subsequent to the Change in Control, and during the period the Executive continues to be covered by the severance benefit protections of this Agreement, the Executive is terminated by Fulton Xxxxxx without Cause or the Executive terminates his own employment fxx Xxxd for Good Reason. The contingent obligations to be funded under the Trust shall include in particular those specified in Section 6 and Section 7.8 hereof. In the event the Executive's entitlement to benefits under the Agreement expires or the amounts funded are in excess of the amount needed to fully satisfy the claims under the Agreement of the Executive, any excess amounts in the Executive's account under the Trust shall revert to FultonXxxxxx.