Common use of Intentions Clause in Contracts

Intentions. The Controlling Company wishes to establish the Trust and to contribute to the Trust assets that shall be held therein, subject to the claims of the Company’s creditors in the event of its Insolvency (as defined below) until paid to Participants and their Beneficiaries in such manner and at such times as specified in the Plan. It is the intention of the parties that this Trust shall constitute an unfunded arrangement and shall not affect the status of the Plan as an unfunded plan maintained for the purpose of providing supplemental compensation for a select group of management or highly compensated employees for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In addition, it is the intention of the Participating Companies to make contributions to the Trust to provide a source of funds to assist in the meeting of their liabilities under the Plan.

Intentions. The Controlling Company wishes to establish the Trust and to contribute to the Trust assets that shall be held therein, subject to the claims of the Company’s creditors in the event of its Insolvency (as defined below) until paid to Participants and their Beneficiaries in such manner and at such times as specified in the Plan. It is the intention of the parties that this Trust shall constitute an unfunded arrangement and shall not affect the status of the Plan as an unfunded plan maintained for the purpose of providing supplemental compensation for a select group of management or highly compensated employees for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In addition, it is the intention of the Participating Companies Company to make contributions to the Trust to provide itself with a source of funds to assist them in the meeting of their its liabilities under the Plan.