Employee Benefit Trust. 3.1 As at the date of this Agreement, the Company’s Employee Benefit Trust (the “Trust”) holds no cash and 3,009,391 Company Shares.
Employee Benefit Trust. 4.1 As at the date of this agreement, the EBT holds 437,831 TClarke Shares (the "Unallocated Trust Shares"). The Bidder and TClarke acknowledge that the EBT has an outstanding loan balance of £4,304,416.78 which is owed to TClarke, and a surplus cash balance of £10,402.84.
Employee Benefit Trust. 11. As at the date of this Agreement, the Target’s employee benefit trust (the “Trust”) holds approximately £6,578 in cash (the “Cash Amount”) and no Target Shares.
Employee Benefit Trust. The contribution rate to the Trust shall be deducted from the employee’s paycheck on a pre-tax basis at the rate of $75/month. The UNION shall have the option to adjust the contribution rate as necessary to match the amount determined by the WSCFF.
Employee Benefit Trust. Not restated.
Employee Benefit Trust. 18.1 The EBT will, as at Closing, have received sufficient funds to meet:
Employee Benefit Trust. 4. As at the date of this Agreement, the JLT Employee Benefit Trust (“Trust”) holds approximately £957,223 in cash (“Cash Amount”) and 6,758,668 JLT Shares.
Employee Benefit Trust. Other than in respect of and limited to the exchange of Parent Common Shares (and any cash in lieu of fractional shares) for Company Common Shares pursuant to the Merger, neither the Company, nor any of its subsidiaries or affiliates, has provided any form of recommendation, instruction, expression of wishes or request to the EBT Trustee which may cause or have the intention of causing the EBT Trustee to take any action in relation to the EBT Shares after the date of this Agreement, and nor has the Company, or any of its subsidiaries or affiliates, (x) entered into any agreement with the EBT Trustee in relation to the satisfaction of any Company Equity Awards or the transfer or other disposal of the EBT Shares which will take effect or require any of the parties to such agreement to take any action on or after the date of this Agreement, or (y) filed, or amended, a registration statement on Form S-8 (or any successor or other appropriate form) of the Company in order to register any of the EBT Shares or otherwise transfer any of the EBT Shares.
Employee Benefit Trust. 11. As at the date of this Agreement, the Inmarsat Employees' Share Ownership Plan Trust ("Trust") holds approximately £6,400 in cash ("Cash Amount") and 76,610 Inmarsat Shares.
