Common use of Purpose and Effect Clause in Contracts

Purpose and Effect. This Supplement 13, effective as of May 13, 1991, is intended to comply with the requirements of the applicable provisions of the tax code of Puerto Rico, currently Section 1165(a) and (e) of the Puerto Rico Internal Revenue Code of 1994 (the “PRIRC”). The provisions of this Supplement 13 shall only apply to any resident of the Commonwealth of Puerto Rico (“Supplement 13 Participant”) who is employed by an Employer.

Appears in 2 contracts

Sources: Savings Plan (Arrow Electronics Inc), Savings Plan (Arrow Electronics Inc)