Common use of Payments by Trust Clause in Contracts

Payments by Trust. The Company intends to establish a trust to fund payments under this Agreement and other agreements and/or plans relating to employee severance payments (the "Trust"). Any payments made by the Trust to the Executive pursuant to the terms of this Agreement shall reduce the obligations of the Company with respect to such payment. Except to the extent provided in the preceding sentence, neither the establishment of the Trust, the funding thereof nor any payments made by the Trust shall reduce or otherwise affect the obligations of the Company hereunder, including the obligations of the Company to make the payments required hereunder, at the times and in the amounts provided herein.

Payments by Trust. The Company intends to establish a trust to fund payments under this Agreement and other agreements and/or plans relating to employee severance payments (the "Trust"). Any payments made by the Trust to the Executive pursuant to the terms 11 12 of this Agreement shall reduce the obligations of the Company with respect to such payment. Except to the extent provided in the preceding sentence, neither the establishment of the Trust, the funding thereof nor any payments made by the Trust shall reduce or otherwise affect the obligations of the Company hereunder, including the obligations of the Company to make the payments required hereunder, at the times and in the amounts provided herein.