Legal Defense Fund. Claims Against the Trustee or the Trust.
(a) If so instructed, in writing, by the Company in its sole discretion, the Trustee shall establish within the Trust Fund a separate fund, hereinafter referred to as a "Legal Defense Fund." The Legal Defense Fund shall consist of such portions of the Company's contributions to the Trust as the Company shall specify in writing at the time of contribution, together with all income, gains and losses and proceeds from the investment, reinvestment and sale thereof, less all payments therefrom and expenses charged thereto in accordance with the provisions of this Agreement. Subject to Section 3, the Legal Defense Fund shall be held and administered by the Trustee for the purpose of defraying the costs and expenses incurred by the Participant and his beneficiary(ies) associated with the enforcement of their rights under the Plan by litigation or other legal action and by the Trustee in performing its duties under this Section.
(b) The Legal Defense Fund, if any, shall be maintained and administered as a separate segregated account; provided, however, that the assets of the Legal Defense Fund may be commingled with all other assets of the Trust, and with the assets of any other Trust, solely for investment purposes.
(c) If legal proceedings are brought against the Trustee by the Company or another party seeking to invalidate any of the provisions of this Agreement or the Trust, or seeking to enjoin the Trustee from paying any amounts from the Trust or from taking any other action otherwise required or permitted to be taken by the Trustee under this Agreement, the Trustee shall take all steps that may be necessary in such proceeding to uphold the validity and enforceability of the provisions of this Agreement. The Trustee shall be empowered to retain counsel and other appropriate experts, including actuaries and accountants, to assist it in making any determination under this Section 13. All costs and expenses incurred by the Trustee in connection with any such proceeding (including, without limitation, the payment of reasonable fees, costs and disbursements of any counsel, actuaries, accountants or other experts retained by the Trustee in connection with such proceeding) shall be charged to and paid from the Legal Defense Fund, if any. To the extent the Trustee's legal fees and expenses exceed the amount available in the Legal Defense Fund, if any, such fees and expenses shall be paid by the Trustee from the assets of the ...
Legal Defense Fund. The Trustee shall establish within the Trust a separate fund, hereinafter referred to as the “Legal Defense Fund”. The Legal Defense Fund shall consist of the portion of the Company’s contributions to the Trust that represent the Legal Defense Fund Amount, or are otherwise designated for the Legal Defense Fund in writing at the time of contribution, together with all income, gains and losses and proceeds from the investment, reinvestment and sale thereof, less all payments therefrom and expenses charged thereto in accordance with the provisions of this Article. The Legal Defense Fund shall be held and administered by the Trustee for the purpose of defraying the costs and expenses incurred by Plan Participants and beneficiaries associated with the enforcement of their rights under the Plans by litigation or other legal action and the Trustee in performing its duties under this Article. The Legal Defense Fund shall be maintained and administered as a separate segregated account, provided, however, that the assets of the Legal Defense Fund may be commingled with all other assets of the Trust solely for investment purposes.
Legal Defense Fund. The Trustee shall establish a separate account (the "Legal Defense Fund") to provide for the payment of legal expenses and liabilities incurred by the Trustee with respect to which it is entitled to reimbursement under Section 10.3 and 10.4 and to protect Plan Participants' rights to benefits after a Potential Change in Control or Change in Control of the Company. The Company shall contribute cash to the Legal Defense Fund with the Required Funding Amount in an amount equal to ten percent (10%) of the Required Funding Amount. The Legal Defense Fund shall not be used to pay benefits due under any Plan. Following a Potential Change in Control or Change in Control of the Company, the Trustee shall pursue all claims for benefits by individual Plan Participants against the Company, other than those which the Trustee reasonably believes to be frivolous, and shall not compromise or settle any such claim, unless approved by the affected Plan Participants.
Legal Defense Fund. The County recognizes that sworn members of the bargaining unit may participate individually in the IBT "Team Legal" defense fund through employee payroll deduction.
Legal Defense Fund. The Trustee shall establish a separate account (the ------------------ "Legal Defense Fund") to provide for the payment of legal expenses and liabilities incurred by the Trustee with respect to which it is entitled to reimbursement under Sections 10.3 and 10.4, or for which a Plan Participant is entitled to reimbursement under Section 10.5, and to protect Plan Participants' rights to benefits after a Change in Control. Upon a Potential Change in Control, the Company shall contribute cash to the Legal Defense Fund in an amount equal to the greater of ten percent (10%) of the Required Funding Amount (or a reasonable estimate thereof) and $3,000,000 (the "Legal Defense Fund Amount"). The Legal Defense Fund shall not be used to pay benefits due under any Plan.
Legal Defense Fund. The Association shall take steps periodically necessary to insure that all eligible members of the Department are enrolled as participants for benefits and coverage provided by the Legal Defense Fund of the Peace Officers Research Association of California. Eligible members include all sworn regular police officers and reserve officers, including police supervisors and command level police executives who are sworn Oregon police officers, as well as non-sworn public safety employees as defined in the Summary Plan Description of the PORAC Legal Defense Fund. The City will reimburse the Association, as invoiced monthly to the City, for the full monthly premium cost for each eligible employee.
Legal Defense Fund. Employees covered by this Agreement are authorized to enroll as members of the Legal Defense Fund sponsored by the Massachusetts Police Association provided the Town’s cost shall not exceed two hundred fifty dollars ($250) per year for each eligible employee. The employee is responsible for filing all the necessary information required by the Legal Defense Fund to establish employee coverage.
Legal Defense Fund. City recognizes the desire of the employee to be represented in their professional organizations legal defense funds. Employee is authorized to become a member of such legal defense funds granted these funds are provided by professional organizations to which the employee is a member. The employer shall reimburse any employee for the expense paid by the employee for a legal defense fund on an annual basis.
Legal Defense Fund. (a) The Trustee shall establish within the Trust Fund a separate fund, hereinafter referred to as a "Legal Defense Fund." The Legal Defense Fund shall consist of such portions of the contributions to the Trust as the Company shall specify in writing at the time of contribution, together with all income, gains and losses and proceeds from the investment, reinvestment and sale thereof, less all payments therefrom and expenses charged thereto in accordance with the provisions of this Section 13. Subject to Section 3, the Legal Defense Fund shall be held and administered by the Trustee for the purpose of defraying the costs and expenses incurred by Participants and beneficiaries associated with the enforcement of their rights under any Plan by litigation or other legal action and the Trustee in performing its duties under this Section. Upon the initial contribution ("Legal Defense Fund Date") by the Company designated as constituting a part of the Legal Defense Fund, the portion of this Trust so designated, together with earnings allocable thereto, shall be held exclusively for use of the Legal Defense Fund for a period of not less than five years from the Legal Defense Fund Date ("Legal Defense Fund Period"). At each anniversary of the Legal Defense Fund Date, the Legal Defense Fund Period shall be extended for an additional year unless the Board has determined in good faith and the Trustee concurs in writing, that (i) no Change of Control has occurred or if such an event has occurred all Liabilities have been satisfied, (ii) at that time there is no Potential Change in Control Period, and (iii) if the Trust has become irrevocable pursuant to Section 1(b), all Liabilities have been satisfied.
(b) The Legal Defense Fund shall be maintained and administered as a separate segregated amount; provided, however, that the assets of the Legal Defense Fund may be commingled with all other assets of the Trust, and with the assets of any other trust, solely for investment purposes.
(c) If, at any time after a Change of Control or during a Potential Change of Control Period, legal proceedings are brought against the Trustee by the Company or another party seeking to invalidate any of the provisions of this Trust Agreement as they relate to the Trust, or seeking to enjoin the Trustee from paying any amounts from any trust or from taking any other action otherwise required or permitted to be taken by the Trustee under this Trust Agreement with respect to any trust, the Tru...
Legal Defense Fund. Legal defense coverage for Employees covered by this Agreement shall be provided in the following manner: October twenty-eight dollars ($28.00) The Guild shall provide legal defense coverage which shall be paid for by the Company at the rates October twenty-nine dollars and fifty cents ($29.50) October thirty-one dollars ($3 The Company and Officers shall be advised as to the terms, conditions and extent of coverage underwritten.
