PLAN TRUST. Immediately as of August 1, 2002 or prior to that time, SUREBEAM shall establish, or cause to be established, a trust qualified under Code Section 401(a), exempt from taxation under Code Section 501(a)(1), and forming part of the SUREBEAM 401(k) Plan. The TITAN 401(k) Plan and the SUREBEAM 401(k) Plan shall provide that no distribution of account balances shall be made on account of SUREBEAM ceasing to be an Affiliate of TITAN as of the Distribution Date.
Appears in 2 contracts
Sources: Employee Benefits Agreement (Surebeam Corp), Employee Benefits Agreement (Titan Corp)