Trust Beneficiaries. The Executive is the intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto. Following the death of the Executive, his rights as the intended beneficiary under this Trust may be exercised by the person or entity which, pursuant to the terms of the Employment Agreement, would be entitled to receive the amounts that would otherwise have been distributed to the Executive hereunder.
Trust Beneficiaries. Each Executive is an intended ------------------- beneficiary ("Trust Beneficiary") under this Trust, and as a Trust Beneficiary shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto. The term Trust Beneficiary shall, to the extent provided in the Agreements respecting a deceased Executive, also mean the legal representative of the estate of such deceased Executive and the surviving spouse of the deceased Executive or beneficiary designated by such Executive in accordance with the terms of such Agreements.
Trust Beneficiaries. Each Executive is an intended beneficiary under the Sub-trust and the Account or separate Account, if any, established for his benefit by his Participating Employer, and shall be entitled to enforce all applicable terms and provisions hereof with the same force and effect as if such person had been a party hereto."
Trust Beneficiaries. With respect to such Xxxxxx Party if it is a Trust, no beneficiary, grantee or appointee of such Trust will have any right, claim, action, suit or complaint, whether based in contract, tort or breach of fiduciary or similar duty, against such Trust as a result of the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby.
Trust Beneficiaries. Each Participant (and Beneficiary of a deceased Participant) is an intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto.
Trust Beneficiaries. The beneficiaries shall be the named shareholders of On the Go Healthcare, Inc. as of the date the shares are traded on the over the counter bulletin board
Trust Beneficiaries. Each Executive is an intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto. The Executives shall have no preferred claim on, or any beneficial ownership in, the Trust Corpus, and all rights created hereunder and the Plans shall be mere unsecured contractual rights of the Executives against the Company and the status of the Executives shall only be as general unsecured creditors. Benefits to the Executives hereunder may not be anticipated, assigned, transferred, pledged or otherwise conveyed. The Company may, in its sole discretion, at any time and from time to time, by means of a modified Payment Schedule accompanied by revised Schedules A and C, (i) provide for coverage hereunder of any other Company plan, agreement or executive and (ii) upon termination of any Plan or final payment of all amounts thereunder, exclude such Plan and the Executives who are participants therein from coverage hereunder.
Trust Beneficiaries. The Company shall have the right to enforce any provision of this Trust Agreement prior to a Change in Control and, on or after a Change in Control, any Participant shall have the right as a beneficiary of the Trust to enforce all terms and provisions of this Trust Agreement with the same force and effect as if such person were a party hereto, except to the extent actions are required to be taken or consented to by the Participant Representatives. Notwithstanding the foregoing, no Participant shall have any beneficial ownership interest in or preferred claim as to any portion of the Trust Fund prior to receiving payment therefrom, since the rights of Participants hereunder are unsecured contractual rights only. The Participants in the Plan as of the date hereof are listed in the initial Participant Information delivered to the Trustee by the Company concurrently herewith. As new persons become Participants in the Plan from time to time, they shall be included in the next following update of the Participant Information delivered to the Trustee by the Company. It shall be the responsibility of the Company, without recourse to the Trust Fund, to reimburse any expenses (including attorneys' fees) incurred by a Participant after a Change in Control in connection with the enforcement of any rights hereunder of such Participant. If the Company fails or refuses to make such reimbursement, in whole or in part, within 20 days after receipt of demand therefor accompanied by appropriate documentation of such fees or other expenses, such Participant may, without prejudice to his right to receive full reimbursement from the Company, demand payment of such amount from the Trust Fund, in which case the Trustee, upon receipt from the Participant Representatives of a written direction to pay, shall make such payment as soon as practicable.
Trust Beneficiaries. 18 14.7 Headings.............................. 18 14.8 Counterparts.......................... 18 14.9 Company as Agent...................... 18 SCHEDULE A - Form of Adoption Agreement SCHEDULE B - Plans as to which the Trustee has been Designated to make Payments on behalf of the Company -ii- 4 HUFFY CORPORATION ----------------- MASTER BENEFIT TRUST AGREEMENT AS RESTATED ------------------------------------------ THIS MASTER BENEFIT TRUST AGREEMENT AS RESTATED (the "Agreement") is entered into as of the 9th day of June, 1995 by HUFFY CORPORATION, an Ohio corporation, as grantor (the "Company"), and BANK ONE TRUST COMPANY, N.A., as trustee (the "Trustee"), and is, in accordance with the resolution of the Compensation Committee of the Board adopted on October 21, 1993, a consolidation and restatement in this Agreement of the Master Benefit Trust Agreement and the Second Master Trust Agreement entered into by the Company as of October 1, 1987 and January 1, 1988, respectively; this Agreement supersedes and replaces both such master trust agreements and the trusts established under each of them are consolidated and combined in the trust of the Company established hereunder; and this Agreement is entered into, and the trusts created pursuant hereto are established, for the following purposes:
Trust Beneficiaries. The Trustees shall hold, administer and distribute the trust estate upon the terms and conditions described below for the benefit of the Beneficiaries. The term “Beneficiary” or “
