Common use of Payments to Plan Participants and Their Beneficiaries Clause in Contracts

Payments to Plan Participants and Their Beneficiaries. (a) The Company shall deliver to the Trustee a schedule (the “Payment Schedule”) that indicates the amounts payable in respect of each Participant (and his or her beneficiaries), and that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. The Company shall be responsible for notifying the Trustee of any change in the information on the Payment Schedule. Except as otherwise provided herein, the Trustee shall make payments to the Participants and their beneficiaries in accordance with such Payment Schedule. It is the intent of the Company and the Trustee that the Company shall be responsible for determining and effecting all federal, state and local tax aspects of the Plan and the Trust Fund, including without limitation income taxes payable on the Trust Fund’s income, if any, any required withholding of income or other payroll taxes in connection with the payment of benefits from the Trust Fund pursuant to the Plan, and all reporting required in connection with any such taxes. To the extent that the Company is required by applicable law to pay or withhold such taxes or to file such reports, such obligation shall be a responsibility allocated to the Company, as the case may be, hereunder. To the extent the Trustee is required by applicable law to pay or withhold such taxes or to file such reports, the Company shall inform the Trustee of such obligation, shall direct the Trustee with respect to the performance of such obligations and shall provide the Trustee with all information required by the Trustee to meet such obligations. Notwithstanding the foregoing, the Company may elect to pay any applicable taxes directly. In the event the Company pays taxes directly, such amounts may be reimbursed from Trust assets by the Trustee, provided that the Company certifies the amount of taxes paid directly and instructs the Trustee to remit a reimbursement of such taxes to the Company.

Payments to Plan Participants and Their Beneficiaries. (a) The Company At such times and in accordance with such other procedures as may be determined by Company, Xxxxxx (or any successor thereto or, in the Company’s discretion, another independent actuarial services firm) shall deliver to the Trustee a schedule (in writing such information as shall enable the “Payment Schedule”) that indicates the amounts payable in respect of each Participant Trustee to fulfill its obligations to pay benefits to which Participants (and his or her any beneficiaries), and that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available ) are entitled under the Plan), and terms of the time of commencement for payment of such amountsPlans. The Company Trustee shall not, however, be responsible for notifying withholding taxes from benefits or for any other tax-related withholding, reporting, or other obligations imposed by law that may apply with respect to Plan benefits and the company shall indemnify and hold the Trustee of any change harmless with respect thereto. Such procedures and information also may, in the information on discretion of the Payment ScheduleCompany, include the authority to pay to the Company from the Trust such amounts as the Company, in its discretion, may determine necessary or appropriate to satisfy all or any part of a tax withholding or other tax obligation with respect to any participant’s or beneficiary’s Plan benefits (including any income tax, Federal Insurance Contributions Act, or other tax obligation). Except as otherwise provided herein, the Trustee shall make payments to the Participants Plan participants and their beneficiaries and to the Company in accordance with such Payment Schedule. It is procedures and information and shall not be liable for the intent proper application of the Company Trust assets if payments are made in accordance with such procedures and information . Further, the Trustee that the Company shall not be responsible for determining and effecting all federal, state and local tax aspects the adequacy of the Plan Trust to meet and the Trust Fund, including without limitation income taxes payable on the Trust Fund’s income, if any, discharge any required withholding of income or other payroll taxes in connection with the payment of benefits from the Trust Fund pursuant to the Plan, and all reporting required in connection with any such taxes. To payments and liabilities under the extent that the Company is required by applicable law to pay or withhold such taxes or to file such reports, such obligation shall be a responsibility allocated to the Company, as the case may be, hereunder. To the extent the Trustee is required by applicable law to pay or withhold such taxes or to file such reports, the Company shall inform the Trustee of such obligation, shall direct the Trustee with respect to the performance of such obligations and shall provide the Trustee with all information required by the Trustee to meet such obligations. Notwithstanding the foregoing, the Company may elect to pay any applicable taxes directly. In the event the Company pays taxes directly, such amounts may be reimbursed from Trust assets by the Trustee, provided that the Company certifies the amount of taxes paid directly and instructs the Trustee to remit a reimbursement of such taxes to the CompanyPlans.

Payments to Plan Participants and Their Beneficiaries. (a) The Company shall deliver to the Trustee (with a copy to the applicable Plan participant) a schedule (the “"Payment Schedule”") in the form of Appendix A to this Trust Agreement consistent with the terms of the Plans that indicates the amounts payable in respect of each Participant Plan participant (and his or her beneficiaries), and that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is amounts are to be paid (as provided for or available under the PlanPlans), and the time of commencement for payment of such amounts. The Company shall be responsible obtain from its actuary for notifying the Supplemental Retirement Plan, and its administrator for the Deferred Compensation and Savings Plan, or both, as appropriate, certification(s) of the accuracy of the information contained in any Payment Schedule. The Company shall deliver such certification(s) together with any Payment Schedule to the Trustee of any change in and to the information on the Payment Scheduleapplicable Plan participant. Except as otherwise provided herein, the Trustee shall make payments to the Participants Plan participants and their beneficiaries in accordance with such Payment Schedule. It is the intent of the The Company and shall on a timely basis provide the Trustee that with written instructions for the Company shall be responsible for determining reporting and effecting all withholding of any federal, state and local tax aspects of the Plan taxes that may be required to be reported and the Trust Fund, including without limitation income taxes payable on the Trust Fund’s income, if any, any required withholding of income or other payroll taxes in connection with the payment of benefits from the Trust Fund pursuant to the Plan, and all reporting required in connection with any such taxes. To the extent that the Company is required by applicable law to pay or withhold such taxes or to file such reports, such obligation shall be a responsibility allocated to the Company, as the case may be, hereunder. To the extent the Trustee is required by applicable law to pay or withhold such taxes or to file such reports, the Company shall inform the Trustee of such obligation, shall direct the Trustee withheld with respect to any amount paid under the performance of Trust Agreement and the Trustee shall comply with such obligations written instructions and shall provide pay any taxes withheld to the appropriate taxing authorities. The Trustee with all information required by may rely conclusively (and shall be fully protected in such reliance) on the Trustee to meet such obligations. Notwithstanding the foregoing, written instructions of the Company may elect as to pay any applicable taxes directly. In the event the Company pays taxes directly, such amounts may be reimbursed from Trust assets by the Trustee, provided that the Company certifies the amount of taxes paid directly all tax reporting and instructs the Trustee to remit a reimbursement of such taxes to the Companywithholding requirements.

Payments to Plan Participants and Their Beneficiaries. (a) The Company shall deliver to the Trustee a schedule (the “"Payment Schedule”") that indicates the amounts payable in respect of each Participant the Plan participants (and his or her their beneficiaries), and that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. The Company shall be responsible for notifying the Trustee of any change in the information on the Payment Schedule. Except as otherwise provided herein, the Trustee shall make payments to the Participants and Plan participants or their beneficiaries in accordance with such Payment Schedule. It is the intent of the Company and the Trustee that the The Company shall be responsible make provision for determining the reporting and effecting all withholding of any federal, state and or local tax aspects taxes that may be required to be withlield with respect to the payment of benefits pursuant to the terms of the Plan and shall pay or shall direct the Trust FundTrustee to pay amounts withheld to the appropriate taxing authorities. The Trustee shall have no responsibility with regard to withholding or remitting amounts withheld to any appropriate authority except to act in accordance with the specific directions of the Company as to the magnitude, including without limitation income taxes payable on the Trust Fund’s incomesource and proper recipient of such amounts. In addition, if anythe principal of the Trust, and any required withholding earnings thereon, are not sufficient to make payments of income or other payroll taxes benefits in connection accordance with the payment terms of benefits from the Trust Fund pursuant to the Plan, and all reporting required in connection with any such taxes. To the extent that the Company is required by applicable law to pay or withhold such taxes or to file such reports, such obligation shall be a responsibility allocated to the Company, as the case may be, hereunder. To the extent the Trustee is required by applicable law to pay or withhold such taxes or to file such reports, the Company shall inform make the balance of each such payment as it falls due. The Trustee of such obligation, shall direct the Trustee with respect to the performance of such obligations and shall provide the Trustee with all information required by the Trustee to meet such obligations. Notwithstanding the foregoing, notify the Company may elect where principal and earnings are not sufficient to pay any applicable taxes directly. In make payments in accordance with the event the Company pays taxes directly, such amounts may be reimbursed from Trust assets by the Trustee, provided that the Company certifies the amount directions of taxes paid directly and instructs the Trustee to remit a reimbursement of such taxes to the Company.