Adopting Company definition
Examples of Adopting Company in a sentence
In addition, each Adopting Company hereby prom ises to indemnify each member of its Committee against and hold each such member harmless from any and all expenses or liabilities incurred or arising as the result of his member ship on such Committee, except such expenses or liabilities as may result from such member's wilful misconduct or gross negligence.
The Sponsoring Company's Committee, the Adopting Company by which such Participant is employed and the Trustee may rely upon the last designation so filed for purposes of making distribution of any amount payable hereunder as the result of a Participant's death.
Further, the Sponsoring Company or any Adopting Company may reduce the benefits to be provided to Participants employed thereby under the Plan prospectively at any time.
Not withstanding the foregoing, if the Commissioner determines that the Trust is not a "qualified" trust as defined in Sec tion 401 of the Code as to any Adopting Company, such Company may recover its contributions made hereto prior to such determination.
Company shall mean Appalachian Bancshares, Inc., which shall be the Adopting Company and sponsor of the Plan.
Each Adopting Company shall provide such information to its Committee as such Committee may require to properly administer the Plan and to furnish the Trustee with such information as may be pertinent to the Trustee's administra tion of the Trust Fund on a timely basis.
The Committee is the Named Fiduciary and Administrator of the plan of each Adopting Company required to be specified by the Act.
Prior to the execution hereof, the Sponsoring Company has paid to the Trustee the sum of at least One Hundred Dol lars ($100.00) as its initial contribution to the Trust and each Adopting Company shall, subject to its rights under Article X, make additional contributions for each Plan Year of the amount determined under Section 3.2.
No person shall be deemed to have acquired any right to be retained in the employ of an Adopting Company or any interest in or claim against the Plan or Trust as the result of becoming a Participant except as otherwise provided here in.
Any such modification shall be effective as of the first day of the first regular payroll period beginning at least fifteen (15) days after the date upon which written notice of such modification is delivered by the Participant to the payroll or accounting department of the Adopting Company by which he is employed.