Common use of Additional Funding; Excess Assets Clause in Contracts

Additional Funding; Excess Assets. Unless the Trust Funds have been released to the Company pursuant to Section 5.4, the Company shall, as soon as practicable after the end of each Fiscal Year, recalculate the amount determined under accepted actuarial principles to be necessary to fund any amounts payable to the Executive under the Employment Agreement, in accordance with any Payment Schedule delivered to the Trustee pursuant to Sections 4.1 and 4.2 during the most recently completed Fiscal Year (herein referred to as the "Aggregate Payment Obligation"). If the Aggregate Payment Obligation exceeds the fair market value of the Trust Funds at the end of the most recently completed Fiscal Year, then there exists a funding deficiency to the extent of such excess; and the Company shall contribute to the Trustee no later than 90 days after the end of such Fiscal Year additional cash or property having a fair market value equal to the amount of the funding deficiency. If the fair market value of the Trust Funds at the end of the most recently completed Fiscal Year is more than 125% of the Aggregate Payment Obligation, then there is an overfunding to the extent of such excess; and the Trustee shall as soon as practicable after the determination that an overfunding exists distribute to the Company cash or other property having a fair market value equal to the amount of the overfunding in excess of such 125%.

Additional Funding; Excess Assets. Unless the Trust Funds have been released to the Company pursuant to Section 5.4, the Company shall, as soon as practicable after the end of each Fiscal Year, recalculate the amount determined under accepted actuarial principles to be necessary to fund any amounts payable to the Executive under the Employment Agreement, in accordance with any Payment Schedule delivered to the Trustee pursuant to Sections 4.1 and 4.2 during the most recently completed Fiscal Year (herein referred to as the "Aggregate Payment Obligation"). If the Aggregate Payment Obligation exceeds the fair market value of the Trust Funds at the end of the most recently completed Fiscal Year, then there exists a funding deficiency to the extent of such excess; and the Company shall contribute to the Trustee no later than 90 days after the end of such Fiscal Year additional cash or property having a fair market value equal to the amount of the funding deficiency. If the fair market value of the Trust Funds at the end of the most recently completed Fiscal Year is more than 125% of the Aggregate Payment Obligation, then there is an overfunding to the extent of such excess; and the Trustee shall as soon as practicable after the determination that an overfunding exists distribute to the Company cash or other property having a fair market value equal to the amount of the overfunding in excess of such 125%.. 5.4