Optional Trust. The Committee, at any time, may authorize the establishment of a trust for the benefit of the Participant, containing such other terms and conditions as the Committee shall approve, including provisions pursuant to which the assets of the trust would be subject under certain conditions to the claims of general creditors of the Company. If such a trust is established, then the value of all Performance Units notionally earned and credited to Participants’ accounts may be delivered by the Company to the trust.
Appears in 5 contracts
Samples: Performance Stock Unit and Cash Unit Award Agreement (Cooper Tire & Rubber Co), Performance Stock Unit and Cash Unit Award Agreement (Cooper Tire & Rubber Co), Performance Stock Unit and Cash Unit Award Agreement (Cooper Tire & Rubber Co)
Optional Trust. The Committee, at any time, may authorize the establishment of a trust for the benefit of the Participant, containing such other terms and conditions as the Committee shall approve, including provisions pursuant to which the assets of the trust would be subject under certain conditions to the claims of general creditors of the Company. If such a trust is established, then the value number of all Performance Units notionally earned and credited to Participants’ accounts Common Shares issuable upon vesting of the RSU’s may be delivered by the Company to the trust.
Appears in 3 contracts
Samples: Restricted Stock Unit Award Agreement (Cooper Tire & Rubber Co), Restricted Stock Unit Award Agreement (Cooper Tire & Rubber Co), Restricted Stock Unit Award Agreement (Cooper Tire & Rubber Co)
