Common use of Payments to Participants and Their Beneficiaries Clause in Contracts

Payments to Participants and Their Beneficiaries. 2.1 Except as otherwise provided herein, Trustee shall disburse directly to the Company such funds as are needed to make payments to Plan Participants and their beneficiaries in accordance with such payment schedule. The Company shall make provision for the reporting and withholding of any federal, state, or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing authorities.

Appears in 1 contract

Samples: Trust Agreement (Royal Caribbean Cruises LTD)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!