Grantor Trust. Within ninety (90) days following execution of this Agreement, the Company shall establish a grantor trust, known as a rabbi trust, which shall provide for the Company to make an irrevocable contribution to fully fund the cash payments provided for under this Agreement in the event of a Change in Control. Notwithstanding the foregoing, such funding shall not be required if it would result in the imposition of additional tax under Section 409A(b)(5) of the Code.
Appears in 15 contracts
Samples: Termination Protection Agreement (Thomas & Betts Corp), Termination Protection Agreement (Thomas & Betts Corp), Termination Protection Agreement (Thomas & Betts Corp)
