Common use of Disposition of Income Clause in Contracts

Disposition of Income. 7.1 Each Account shall reflect an undivided interest in the assets of the Trust and shall not require any segregation of particular assets. The Trustee shall allocate investment income and expenses generated from amounts attributable to the Accounts of Participants who have separated from service in proportion to their balances. The Trustee shall allocate investment income and expenses generated from amounts attributable to the Accounts of Participants who have not separated from service to a separate earnings account for the Company (the “Earnings Account”). During the term of the Trust, all income received by the Trust, net of taxes withheld, shall be accumulated and used to pay amounts due to Participants (except with amounts to be allocated to the Earnings Account, which shall be paid to the Company). Assets allocated to an Account under the Trust for one Agreement may not be used to provide benefits under any other Agreement.

Appears in 6 contracts

Samples: Employment Agreement (Ur-Energy Inc), Employment Agreement (Ur-Energy Inc), Employment Agreement (Ur-Energy Inc)

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Disposition of Income. 7.1 Each Account shall reflect an undivided interest in the assets of the Trust and shall not require any segregation of particular assets. The Trustee shall allocate investment income and expenses generated from amounts attributable to the Accounts of Participants who have separated from service in proportion to their balances. The Trustee shall allocate investment income and expenses generated from amounts attributable to the Accounts of Participants who have not separated from service to a separate earnings account for the Company (the “Earnings Account”). During the term of the Trust, all income received by the Trust, net of taxes withheld, shall be accumulated and used to pay amounts due to Participants (except with amounts to be allocated to the Earnings Account, which shall be paid to the Company). Assets allocated to an Account under the Trust for one Agreement may not be used to provide benefits under any other Agreement.

Appears in 1 contract

Samples: Employment Agreement (Ur-Energy Inc)

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