Common use of Rabbi Trust Clause in Contracts

Rabbi Trust. To the extent permitted by 409A, a rabbi trust shall be established and at all times shall be funded with assets at least equal to the Executive’s Deferral Account balance. If the market value of the assets is less than the Executive’s Deferral Account balance at the end of any plan year, additional assets shall be added to the trust within 90 days of the Plan Year end so that the market value off the trust assets will equal or exceed the Executive’s Deferral Account balance.

Rabbi Trust. To the extent permitted by 409A, a rabbi trust shall be established at the time of the Executive’s Separation from Service and at all times thereafter shall be funded with assets at least equal to the Executive’s Deferral Account balance. If the market value of the assets is less than the Executive’s Deferral Account balance at the end of any plan yearPlan Year, additional assets shall be added to the trust within 90 days after the end of the such Plan Year end so that the market value off of the trust assets will equal or exceed the Executive’s Deferral Account balance.