DIVIDEND PLAN Sample Clauses

DIVIDEND PLAN. The dividend plan is premium reduction unless the Advisory Committee directs the Trustee to the contrary. The Trustee must use all dividends for a contract to purchase insurance benefits or additional insurance benefits for the Participant on whose life the insurance company has issued the contract. Furthermore, the Trustee must arrange, where possible, for all policies issued on the lives of Participants under the Plan to have the same premium due date and all ordinary life insurance contracts to contain guaranteed cash values with as uniform basic options as are possible to obtain. The term "dividends" includes policy dividends, refunds of premiums and other credits.
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DIVIDEND PLAN. 11.02 11.05 Insurance Company Not a Party to Agreement ................................. 11.02 11.06 Insurance Company Not Responsible for Trustee's Actions .................... 11.03 11.07 Insurance Company Reliance on Trustee's Signature .......................... 11.03 11.08 Acquittance ................................................................ 11.03 11.09
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DIVIDEND PLAN. 11.05 Insurance Company Not a Party to Agreement . . . . .
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DIVIDEND PLAN. 45 11.05 Insurance Company Not a Party to Agreement ........................... 45 11.06
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DIVIDEND PLAN. 46 11.05 Insurance Company Not a Party to Agreement .............................................. 46 11.06 No Responsibility for Others ............................................................ 46 11.07 Duties of Insurance Company ............................................................. 46 ARTICLE XII, TOP-HEAVY PROVISIONS
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DIVIDEND PLAN. 48 29 30
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DIVIDEND PLAN. 63 11.05 Insurance Company Duties and Obligations............... 63 ARTICLE XII TRUST AGREEMENT
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Related to DIVIDEND PLAN

  • Dividend Equivalents Subject to this Paragraph 6, with respect to dividends for which a record date occurs during the Restriction Period, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any related Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, based on the Target Award Units and any Dividend Equivalent Units resulting from prior reinvestments of Dividend Equivalents, in the number of Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of Section 3(a) of the Plan, such Dividend Equivalents will be credited to Participant as a cash value based on the Target Award Units and any Dividend Equivalent Units resulting from prior reinvestments of Dividend Equivalents, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 6 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, upon the same conditions, and in the same proportion, as the Target Award Units set forth in this Award; provided, however, that if the Award vests after the record date for, but before the payment date of, a dividend, then the Dividend Equivalents related to such dividend and to Units vesting on the vesting date will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend.

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