Payments to Trust. 2.1 The Employee understands that from time to time the Company may determine in its discretion that it is appropriate to make available to the Employee additional funding payments in satisfaction of its obligations under the PMI Supplemental Plans. Unless the Employee terminates this Agreement pursuant to Section 7.2 prior to the time such additional funding payments are to be paid into the Trust, the Employee directs the Company to (a) deduct federal, state and local income and employment taxes from such additional funding payments and remit such taxes to the appropriate authorities; and (b) pay the remainder of such additional funding payments into the Trust.
Payments to Trust. BENEFICIARIES -------------------------------
2.1 Provided that the Company is not Insolvent and commencing with the earlier to occur of (a) appropriate notice to the Trustee by the Company, or (b) the date of a Change in Control, the Trustee shall make payments of Benefits to each Trust Beneficiary from the assets of the Trust in compliance and conformity with the terms of the Management Retention Agreements and in accordance with Exhibit C, and subject to Article IX.
2.2 The Trustee shall continue to pay Benefits to the Trust Beneficiaries until the assets of the Trust are depleted, subject to Section
Payments to Trust. Any portions of the grant payments made to Grantee that are in excess of the funds required to meet the Financial Covenants (the “Excess Grant Payments”) shall be contributed to the Harbor’s Edge Charitable Foundation, Inc. (the “Foundation”) within thirty (30) days after the end of each calendar year following each such grant payment by the City. Upon the terms and conditions set forth herein, Grantee shall also contribute an amount equal to the total grant payments that were provided to Grantee less any Excess Grant Payments that were previously paid to the Foundation by the Grantee (the “Foundation Payment”). Grantee’s obligation to pay the Foundation Payment to the Foundation may be amortized in equal annual installments over a period not to exceed ten (10) years following the later of (a) the year in which the last grant payment is made to Grantee or if not made would have been due if owed or
Payments to Trust. 2.1 Subject to its right provided in Section 2.3 hereof to discontinue making payments required by this Section 2.1, for each year that the Employee is an employee of the Company the Company agrees to make a payment of additional cash compensation to the Employee for that year in the form of a contribution to the Trust in the amount set forth in Section 2.2 hereof (referred to hereinafter as “Post-2005 Benefits Payments”). The Employee directs the Company to (a) deduct federal, state and local income and employment taxes from any Post 2005-Benefits Payment and remit such taxes to the appropriate authorities; and (b) pay the remainder of the Post-2005 Benefits Payment into the Trust in cash. All payments made by the Company to the Trust pursuant to this Section 2.1 shall be added to the Post-2005 Benefits Subaccount. All payments made pursuant to this Section 2.1 shall be made no later than March 15 of the calendar year following the calendar year to which the benefit relates or such later time as may be permitted under Section 409A of the Internal Revenue Code (the “Code”) and the Regulations thereunder.
2.2 The amount of each Post-2005 Benefits Payment shall be the amount necessary for the balance in the Post-2005 Benefits Subaccount following such payment to equal 85% of the present value of the additional after-tax lump sum benefit the Employee would receive under the Plan on his Normal Retirement Date attributable to the excess of (a) Employee’s Accrued Benefit under the Plan (as defined in the Plan) determined as of December 31 of the calendar year for which the payment is made over (b) his or her Accrued Benefit as of December 31, 2005. For purposes of this Section 2.2, the additional lump sum benefit as of the Employee’s Normal Retirement Date shall be calculated using a discount rate equal to the greater of (a) 5.5% or (b) the annual interest rate on 10-year Treasury securities plus 50 basis points. The present value of such amount shall be calculated from the Employee’s Normal Retirement Date to the date as of which the benefit is being calculated using a discount rate equal to the greater of (c) 8% or (d) the annual interest rate on 10-year Treasury securities plus 300 basis points. The resulting amount shall be converted to an after-tax benefit as described in Section 3.2 hereof.
2.3 The Company may terminate its obligation to make payments under Section 2.1 hereof by giving notice to the Employee that such payments will be discontinued prior to...
Payments to Trust. 2.1 The Employee and the Employee’s Spouse understand that from time to time Mondelēz may determine in its discretion that it is appropriate to make available to the Employee additional funding payments. Unless the Employee terminates this Agreement pursuant to Section 7.2 prior to the time such additional funding payments are to be paid into the Trust, the Employee directs Mondelēz (a) to deduct federal, state, local and other applicable income taxes (but excluding any applicable federal employment taxes) from the funding payment, using the tax assumptions set forth on Exhibit B, and remit such taxes to the appropriate authorities; and (b) to pay the remainder of the funding payment into the Trust in cash. If the Employee is an expatriate subject to United States taxation, the deduction for income taxes will be computed in accordance with the tax assumptions specifically applicable to expatriates set forth in Exhibit B.
Payments to Trust. 2.1 The SETTLOR shall deposit into the Trust Fund the amounts required by R.S. 8:502(A) and (B) and the Rules of the Louisiana Cemetery Board.
2.2 The deposit required by Section 2.1 shall be made within the time required by R.S. 8:502(D) and the Rules of the Louisiana Cemetery Board.
2.3 Trustee hereby agrees to accept all amounts so deposited and hold them in trust in accordance with the provisions of this trust agreement, the provisions of Title 8, particularly but without limitation, R.S. 8:501, et seq., and the Rules of the Louisiana Cemetery Board.
2.4 Each deposit into the Trust Fund shall be identified as required by R.S. 8:502(E) and the Rules of the Louisiana Cemetery Board.
2.5 Income shall be allocated and detailed records shall be kept as required by R.S. 8:502(E) and the Rules and the Louisiana Cemetery Board.
2.6 Except as otherwise provided in this agreement, the principal of the trust fund and all income therefrom shall be exempt from seizure, under any writ, mandate, or process whatsoever, by the creditors of the beneficiaries, the trustee, the cemetery authority, or any person or other entity providing cemetery merchandise or services for which the trust fund was created. [R.S. 8:502.3]
Payments to Trust. 2.1 The Company agrees to make available to the Employee $[insert sum of trust contribution and tax payments] (the "Funding Payment"), as of [month, day, year] and the Employee directs the Company to (a) deduct federal, state and local income and employment taxes from the Funding Payment and remit such taxes to the appropriate authorities; and (b) pay the remainder of the Funding Payment into the Trust in cash.
2.2 The Company may, from time to time, make available to the Employee additional funding payments. Unless the Employee terminates this Agreement pursuant to Section 7.2 prior to the time such additional funding payments are to be paid into the Trust, the Employee directs the Company to (a) deduct federal, state and local income and employment taxes from such additional funding payments and remit such taxes to the appropriate authorities; and (b) pay the remainder of such additional funding payments into the Trust.
Payments to Trust. Holdings and the Trust shall enter into arrangements, reasonably satisfactory to the Trust, which shall result in the Trust receiving the payments contemplated by Sections 7.2(i) and 7.3 simultaneously with the Effective Time.
Payments to Trust. 2.1 The Company agrees to contribute to the Trust all amounts required to be contributed in accordance with the terms and conditions of the Employee's Excess Benefit Agreement. The Employee agrees that the Company shall (a) deduct federal, state and local income and employment taxes from any contribution made to the Trust and remit such taxes to the appropriate authorities; and (b) pay the remainder of such contribution into the Trust in cash.
2.2 The Company may, in its sole discretion and from time to time, make additional contributions to the Trust in addition to the contributions required by Section 2.1 hereof. The Employee directs the Company to (a) deduct federal, state and local income and employment taxes from such additional contributions and remit such taxes to the appropriate authorities; and (b) pay the remainder of such additional contributions into the Trust.
2.3 During the 10 (ten) business day period immediately following the date the Company makes a contribution to the Trust, the Employee may, in his or her sole discretion, withdraw from the Trust some or all of such contribution.
Payments to Trust. The Employer shall transfer over to the Trust, as soon as practicable after the execution of this Plan, the sum of $1,225,000, and the Additional Deferral Amount as soon as practicable after it is credited to Participant's Account under Section 2.2. All amounts paid to the Trust under this Section 8.1, and any income, gains, and losses thereon, shall be held in a subtrust which shall be separate from the other assets of the Trust but which shall otherwise be subject to all of the terms and provisions of the Trust.
