Common use of Payments to Beneficiary Clause in Contracts

Payments to Beneficiary. (a) At the time of any contribution to the Trust, other than the initial contribution, the trust estate not heretobefore divided shall be divided and segregated into separate Trust Accounts for each Employee in proportion to the bookkeeping accounts that Company maintains for each Employee under the Nonqualified Plan. Each such Trust Account shall continue in trust and be separately held and distributed as provided below. Prior to a Control Change Date, any income earned on a Trust Account, if not distributed as provided below, shall be accumulated and added to the principal of such Trust Account.

Payments to Beneficiary. (a) At the time of any contribution to the Trust, other than the initial contribution, the trust estate not heretobefore divided shall be divided and segregated into separate Trust Accounts for each Employee Participant in proportion to the bookkeeping accounts that Company maintains for each Employee Participant under the Nonqualified Plan. Each such Trust Account shall continue in trust and be separately held and distributed as provided below. Prior to a Control Change Date, any income earned on a Trust Account, if not distributed as provided below, shall be accumulated and added to the principal of such Trust Account.

Payments to Beneficiary. (a) At the time of any contribution to the Trust, other than the initial contribution, the trust estate not heretobefore divided shall be divided and segregated into separate Trust Accounts for each Employee as the Board of Directors or a duly authorized officer of the Company, in proportion to the bookkeeping accounts that Company maintains for each Employee under the Nonqualified Planits or his sole discretion, shall direct. Each such Trust Account shall continue in trust and be separately held and distributed as provided below. Prior to a Control Change Date, any income earned on a Trust Account, if not distributed as provided below, shall be accumulated and added to the principal of such Trust Account.

Payments to Beneficiary. (a) At the time of any contribution to the Trust, other than the initial contribution, the trust estate not heretobefore divided shall be divided and segregated into separate Trust Accounts for each Employee in proportion to the bookkeeping accounts that Company maintains for each Employee amount allocated to such Employees under the Nonqualified PlanIncentive Compensation Determinations. Each such Trust Account shall continue in trust and be separately held and distributed as provided below. Prior to a Control Change Date, any income earned on a Trust Account, if not distributed as provided below, shall be accumulated and added to the principal of such Trust Account.to