Payments to Plan Participants. (a) The entitlement of a Participant to benefits under the Plan shall be determined by the Company or such party as it shall designate under the Plan, and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plan. The Company shall notify the Trustee of such determination and shall direct payment, or commencement of payment, of such benefits. The Company shall have the sole responsibility for determining the eligibility of any Participant for benefits or for determining the amount and duration of the payment of such benefits.
Payments to Plan Participants. 2.1 The Bank shall designate an Administrator ("Administrator") in accordance with the Plan and the Administrator shall deliver to the Trustee, at least annually, a schedule ("the Payment Schedule") that indicates the amounts payable in respect of each Plan Participant who has ceased to be an employee of the Bank and each surviving spouse, that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments to the Plan Participants and their beneficiaries in accordance with such Payment Schedule. The Trustee shall make provisions 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 or determine that such amounts have been reported, withheld and paid by the Bank. The Administrator shall provide the Trustee with all information necessary to make such tax withholding provisions and the Trustee shall be entitled to rely on such information. The Bank shall be responsible for the remittance to the appropriate tax authorities of its share of any applicable employment taxes, as distinguished from those employment taxes required to be withheld from the benefits due Plan Participants and their beneficiaries.
Payments to Plan Participants. (a) Pending the Company's funding of the Trust, the Company shall pay all benefits to Plan participants as they become due under the Plan. After the Trust is funded, the Company may continue to make payment directly. In such case, the Company shall notify the Trustee of its decision to make payment directly prior to the time payment is due. In addition, if at any time the Trust Assets are not sufficient to make payment in accordance with the terms of the Plan, the Company shall make the balance of each such payment as it falls due. The Trustee shall notify the Company and affected participants in the Plan if Trust Assets are not sufficient to make a scheduled payment.
Payments to Plan Participants. 4.1 After the Trust Fund receives funding pursuant to Section 2.2 and/or the second sentence of Section 2.1 hereof, the Trustee shall from time to time, in accordance with the Payment Schedules then in effect (and, in the event of funding pursuant to the second sentence of Section 2.1 hereof, written instructions of the Corporation given prior to any Potential Change in Control), make distributions or payments out of the Trust Fund, in cash or in property, to such persons, in such manner and in such amounts as are set forth in the most recent Payment Schedule provided to the Trustee under Section 4.2 hereof (or such written instructions), but
Payments to Plan Participants. (a) (i) The Committee shall deliver to Trustee a schedule (the "Payment Schedule") that indicates (x) the amounts payable in respect of each Plan participant or provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, (y) the form in which such amount is to be paid (as provided for or available under the Plan) and (z) the time of commencement for payment of such amounts. The Payment Schedule shall reflect the aggregate severance benefits payable to each participant in excess of the severance benefits payable to such participant pursuant to the Old Trust; provided, however, that Plan participants shall have no right to payment from the trust with respect to severance benefits payable pursuant to the Old Trust. Except as otherwise provided herein, Trustee shall make payments to the Plan participants in accordance with such Payment Schedule.
Payments to Plan Participants. (a) (i) The Committee shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan participant, that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan) and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Plan participants in accordance with such Payment Schedule.
Payments to Plan Participants. (a) The Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan Participant, that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to Plan Participants in accordance with such Payment Schedule. The Trustee shall make provisions for the reporting and withholding of any appropriate taxes 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 or determine that such amounts have been reported, withheld and paid by Company.
Payments to Plan Participants. AND THEIR BENEFICIARIES -----------------------
Payments to Plan Participants and Their Beneficiaries
