Common use of Resignation and Removal of Trustee Clause in Contracts

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the Corporation, which shall be effective 15 days after receipt of such notice unless the Corporation and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation on 15 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 4 contracts

Samples: Bonus Deferral Agreement (Nl Industries Inc), Agreement to Defer Bonus Payment (Nl Industries Inc), Agreement to Defer Bonus Payment (Nl Industries Inc)

AutoNDA by SimpleDocs

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 60 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 60 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon Notwithstanding subsection (b), upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthsthree years. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 60 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph(s) (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 2 contracts

Samples: Deferred Compensation Trust Agreement (Target Corp), Deferred Compensation Trust Agreement (Target Corp)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 60 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation on 15 days Company with or without cause at any time upon at least 60 days' notice in writing to the Trustee Trustee, or upon shorter notice accepted by Trustee. In the Trusteeevent of such removal, or a resignation in accordance with Section 10(a) hereof, Trustee shall duly file with Company a written account as provided in Section 7(b) hereof. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 60 days after receipt of notice of resignation, removal removal, or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this sectionSection. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 2 contracts

Samples: Trust Agreement (Hannaford Brothers Co), Trust Agreement (Fairchild Semiconductor International Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 thirty (30) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Except as provided in paragraph (c) of this section, Trustee may be removed by the Corporation Company on 15 days thirty (30) days' notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of in Control, as defined hereinin the Agreement, the Trustee may not be removed by the Corporation Company for 18 monthsone (1) year. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 sixty (60) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Urs Corp /New/), Supplemental Executive Retirement Agreement (Urs Corp /New/)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 ninety (90) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 sixty (60) days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) . Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthstwo (2) years. (dc) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 ninety (90) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 2 contracts

Samples: Trust Agreement (Altavista Co), Trust Agreement (Altavista Co)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 sixty (60) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 sixty (60) days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trusteetrustee, all assets shall subsequently be transferred to the successor Trusteetrustee. The transfer shall be completed within 30 ninety (90) days after receipt the effective date of notice of the resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 12 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this sectionSection. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Separation Agreement (Janus Capital Group Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany and Executive, which shall be effective 15 30 days after receipt of such notice unless the Corporation Company, Executive and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by Trustee. A copy of any such notice shall be provided to Executive on the same date as such notice is provided to Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Executive Employment Agreement (Gaylord Entertainment Co /De)

Resignation and Removal of Trustee. (a) The Prior to a Change in Control (as defined in Section 13(d)), Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 60 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. Following a Change in Control, Trustee may resign only after the appointment of a successor Trustee. (b) The Trustee may be removed by the Corporation Company on 15 one days notice prior to a Change in Control. Subsequent to a Change in Control, Trustee may only be removed by Company with the Trustee or upon shorter notice accepted by written consent of a majority of the TrusteePlan participants. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal resignation or transfer, unless the Corporation extends the time limitremoval. (ed) If the Trustee resigns or is removed, a successor shall be appointedappointed by Company, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (aSections 10(a) or (b) of this section10(b). If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the TrustTrust to the same extent as though Trustee had received the advance written consent of Company to incurring such expenses.

Appears in 1 contract

Samples: Deferred Compensation Plan Trust (Transaction Systems Architects Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 sixty (60) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. , (b) The Prior to a Change of Control, as defined herein, Trustee may be removed by the Corporation Company on 15 sixty (60) days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by Company for five (5) years without the Corporation for 18 monthsprior written approval of Participant (or upon his death, his beneficiaries). (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 sixty (60) days after receipt of notice of resignation, removal or transfer, if practicable, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section section 11 hereof, by the effective elective date of resignation or removal under paragraphs (a), (b) or (bc) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the TrustTrust Section 11.

Appears in 1 contract

Samples: Supplemental Retirement Trust Agreement (Shiloh Industries Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the Corporation, Company which shall be effective 15 sixty (60) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 days sixty (60) days' written notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthstwo (2) years. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 sixty (60) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of such resignation or removal under paragraphs (a) or (b) ), respectively, of this sectionSection. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Deferred Compensation Plan Trust Agreement (Polaroid Corp)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 180 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Subject to subsection (c) below, the Trustee may be removed by the Corporation Company on 15 180 days notice to the Trustee or upon shorter notice accepted by the Trusteewritten notice. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 months5 years following the date of such Change of Control. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph(s) (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Clarcor Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationPrincipal Sponsor, which shall be effective 15 60 days after receipt of such notice unless the Corporation Principal Sponsor and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Principal Sponsor on 15 60 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, subject to Trustee's rights to deduct fees and expenses pursuant to Section 9, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 90 days after receipt of notice of resignation, removal or transfer, unless the Corporation Principal Sponsor extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (C H Robinson Worldwide Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 30 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined hereinin the Plan, the Trustee may not be removed by the Corporation Company for 18 monthstwo years. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 60 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (National Golf Properties Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 60 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The If Trustee may be resigns or is removed by the Corporation on 15 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon within 20 years after a Change of Control, as defined herein, Trustee shall select a successor Trustee in accordance with the Trustee may not be removed by provisions of Section 11 hereof prior to the Corporation for 18 monthseffective date of Trustee's resignation or removal. (dc) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 90 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Executive Security Trust Agreement (Semco Energy Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 90 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 months10 years. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 90 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Executive Compensation Arrangement (Gleason Corp /De/)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 30 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise; provided, however, that any such resignation shall be effective only after the appointment of a successor trustee. (b) The Trustee may be removed by the Corporation Company on 15 days 30 days’ written notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trusteetrustee, all assets shall subsequently be transferred to the successor Trusteetrustee. The transfer shall be completed within 30 60 days after receipt of notice of resignation, removal resignation or transferremoval, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or (b) of this sectionSection. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Oceaneering International Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 sixty days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 sixty days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon ; provided, however, that on and after the occurrence of a Change of in Control, as defined herein, the Trustee may not only be removed by with the Corporation for 18 monthsapproval of all of the Executives (or their beneficiaries, as applicable). (dc) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed as soon as practicable, but in any event within 30 sixty days after receipt of notice of resignation, removal or transfer, unless the Corporation extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Designs Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 ninety (90) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee Provided the majority of the participants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plan approve, the trustee may be removed by the Corporation Company on 15 thirty (30) days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 thirty (30) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Irrevocable Trust Agreement (Interstate Power Co)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationEmployer, which shall be effective 15 thirty (30) days after receipt of such notice unless the Corporation Employer and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation on 15 Employer upon thirty (30) days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 sixty (60) days after receipt of notice of resignation, removal or transfer, unless the Corporation Employer extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section section 11 hereof, by the effective date of the resignation or removal under paragraphs paragraph (a) or (b) of this section. If no such appointment has as been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Deferred Compensation Plan (Perkins Family Restaurants Lp)

Resignation and Removal of Trustee. (a) The 9.1 Trustee may resign at any time by written notice to the CorporationBancshares, which shall be effective 15 30 days after receipt of such notice unless the Corporation Bancshares and the Trustee agree otherwise. (b) The 9.2 Trustee may be removed by the Corporation Bancshares on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trusteetrustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) 9.3 Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The resigning or removed Trustee is authorized, however, to reserve the amount as necessary for the payment of fees and expenses incurred prior to resignation or removal. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation Bancshares extends the time limit. Bancshares's consent to extension of such time limit shall not be unreasonably withheld. (e) 9.4 If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 10 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this sectionSection. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Texas Capital Bancshares Inc/Tx)

Resignation and Removal of Trustee. (a) The Section 11.1 Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 90 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Section 11.2 Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) . Upon a Change of in Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthsfive years except with the consent of at least 75% of the individuals participating in the Plan and covered by the Contracts. (d) Section 11.3 Upon resignation or removal of the Trustee and appointment of a successor Trustee, all Trust assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 90 days after receipt of notice of resignation, removal resignation or transferremoval, unless the Corporation Company extends the time limit. (e) Section 11.4 If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 Article XII hereof, by the effective date of resignation or removal under paragraphs (a) or (b) sections 11.1 and 11.2 of this sectionarticle. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Brinks Co)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the Corporation, which shall be effective 15 days after receipt of such notice unless the Corporation and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation on 15 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined hereinin Section 13(d) below, the Trustee may not be removed by the Corporation for 18 eighteen (18) months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all Trust assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal resignation or transferremoval, unless the Corporation extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (aSection 10(a) or (b) of this section). If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the such a proceeding shall be allowed and paid as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Titanium Metals Corp)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the Corporation, which shall be effective 15 days after receipt of such notice unless the Corporation and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation on 15 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined hereinin Section 13(d) below, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all Trust assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Bonus Deferral Agreement (Nl Industries Inc)

Resignation and Removal of Trustee. (a) The 9.1 Trustee may resign at any time by written notice to the CorporationBancshares, which shall be effective 15 30 days after receipt of such notice unless the Corporation Bancshares and the Trustee agree otherwise. (b) The 9.2 Trustee may be removed by the Corporation Bancshares on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) 9.3 Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The resigning or removed Trustee is authorized, however, to reserve the amount as necessary for the payment of fees and expenses incurred prior to resignation or removal. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation Bancshares extends the time limit. Bancshares’s consent to extension of such time limit shall not be unreasonably withheld. (e) 9.4 If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 10 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this sectionSection. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Texas Capital Bancshares Inc/Tx)

AutoNDA by SimpleDocs

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 thirty (30) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 thirty (30) days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthsa period of three (3) years. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 thirty (30) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointedappointed by the Trustee, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Dynamics Corp of America)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which resignation shall be effective 15 30 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. Trustee may be removed at any time by Company upon written notice from Company to Trustee, which removal shall be effective 30 days after receipt of such notice unless Company and Trustee agree otherwise. (b) The Trustee may be removed by the Corporation on 15 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthsone year. (dc) Upon resignation or removal of the Trustee and appointment of a successor Trusteetrustee, all assets shall subsequently be transferred to the successor Trusteetrustee. The transfer shall be completed within 30 60 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or (bc) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (CDRJ Investments Lux S A)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationBank, which shall be effective 15 60 days after receipt of such notice unless the Corporation Bank and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Bank on 15 days 30 days' notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, provided that the Trustee may not be removed by the Corporation Bank for 18 monthsone year following a Change of Control. (dc) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 60 days after receipt of notice of resignation, resignation or removal or transfer, and the successor Trustee acceptance of appointment unless the Corporation Bank extends the time limitLimit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or of (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Port Financial Corp)

Resignation and Removal of Trustee. (a) 10.1 The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 60 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) 10.2 The Trustee may be removed by the Corporation Company on 15 60 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) 10.3 Upon resignation or removal of the Trustee and Trustee, appointment of a successor TrusteeTrustee and after reserving such reasonable amounts as it shall deem necessary to provide for any expenses, fees or taxes then or thereafter, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 90 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) 10.4 If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 Article XI hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this sectionArticle. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement for Grantor Trust (Maf Bancorp Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 90 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Prior to a Change of Control, the Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trusteetrustee, all assets shall subsequently be transferred to the successor Trusteetrustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or (b) of TWI/UST Trust Agreement this section. If In the event of a Change of Control, or if no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed paid by the Company, and if not, from the Trust as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Time Warner Inc/)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which resignation shall be effective 15 30 days after receipt of the Company receives such notice (unless the Corporation Company and the Trustee agree otherwise. (b) ). The Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal but only if at least 80% of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred Beneficiaries (including Beneficiaries in pay status) consent in writing to the successor Trusteesuch removal. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust. Upon resignation or removal of the Trustee and appointment of a Successor Trustee, all assets shall subsequently be transferred to the Successor Trustee. The transfer shall be completed within 60 days after receipt of notice of resignation, removal or transfer, unless the Company extends the time for such transfer.

Appears in 1 contract

Samples: Grantor Trust Agreement (Peoples Bancorp Inc /Ny/)

Resignation and Removal of Trustee. (a) The Prior to a Change in Control, the Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 sixty (60) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. Following a Change in Control, the Trustee may resign only after the appointment of a successor Trustee. (b) The Trustee may be removed by the Corporation Company on 15 sixty days (60) days notice to the Trustee or upon shorter notice accepted by the TrusteeTrustee prior to a Change in Control. Subsequent to a Change in Control, the Trustee may only be removed by the Company with the consent of a majority of the Participants. (c) Upon If the Trustee resigns within two years after a Change of in Control, as defined herein, the Company, or if the Company fails to act within a reasonable period of time following such resignation, the Trustee, shall apply to a court of competent jurisdiction for the appointment of a successor Trustee may not be removed by which satisfies the Corporation requirements of Section 13 or for 18 monthsinstructions. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 sixty (60) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Woodward Governor Co)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 30 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 30-days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon If Trustee resigns or is removed following a Change of Control, as defined herein, Company shall apply to a court of competent jurisdiction for the appointment of a successor Trustee may not be removed by the Corporation or for 18 monthsinstructions. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the a successor Trustee. The transfer shall be completed within 30 45 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 9 hereof, by the effective date of resignation or removal under paragraphs paragraph (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Alliant Techsystems Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 sixty (60) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwiseother wise. (b) The Trustee may be removed by the Corporation Company on 15 sixty (60) days notice to the Trustee or upon shorter notice accepted by Trustee; provided, however, that on and after the Trustee.occurrence of a Change in Control,Trustee may only be removed by the (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed as soon as practicable, but in any event within 30 sixty (60) days after receipt of notice of resignation, removal or transfer, unless the Corporation extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Shorewood Packaging Corp)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 as agreed to by Trustee and Company but no later than thirty (30) days after receipt of such notice unless the Corporation and the Trustee agree otherwisenotice. (b) The Trustee may be removed by the Corporation Company on 15 days three (3) days' notice to the Trustee or upon shorter notice accepted by Trustee; provided, however, in the Trusteeevent of a Change of Control, the Trustee may be removed solely by action of the Chief Executive Officer of Company employed in that capacity immediately prior to such Change of Control. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation for 18 months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 fourteen (14) days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph(s) (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Matrix Bancorp Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 30 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation affirmative vote of majority of the Board of Directors on 15 30 days notice to the Trustee or upon upon, shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 eighteen months. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, transfer unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 12 hereof, by the effective date of resignation or removal under paragraphs paragraph(s) (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Trust Agreement (Netlive Communications Inc Performance Share Program Trust)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 60 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 60 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon , except that after a Change of Control, Control as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthsone year. (dc) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 180 days after receipt of the notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (ed) If the Trustee resigns or is removed, then a successor shall be appointed, appointed in accordance with Section 11 hereof, 12 hereof by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust. (e) Upon a Change of Control, as defined herein, Trustee may not be removed by Company for one year.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Oil States International Inc)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 thirty (30) days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 days thirty (30) days’ notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon a Change of Control, as defined herein, the Trustee may not be removed by the Corporation Company for 18 monthstwo year(s). (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The To the extent possible, the transfer shall be completed within 30 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs paragraph(s) (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Deferred Compensation Plan (Walker & Dunlop, Inc.)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 45 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Trustee may be removed by the Corporation Company on 15 45 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon If Trustee resigns or is removed within 5 years after this Trust is established, Company shall apply to a Change court of Control, as defined herein, competent jurisdiction for the appointment of a successor Trustee may not be removed by the Corporation or for 18 monthsinstructions. (d) Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 45 days after receipt of notice of resignation, removal or transfer, unless the Corporation Company extends the time limit. (e) If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 hereof, by the effective date of resignation or removal under paragraphs (a) or (b) of this section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Retirement Benefit Award (Healthdyne Technologies Inc)

Resignation and Removal of Trustee. (a) Section 10.1 The Trustee may resign at any time by written notice to the CorporationCompany, which shall be effective 15 30 days after receipt of such notice unless the Corporation Company and the Trustee agree otherwise. (b) The Section 10.2 Prior to the Change in Control, the Trustee may be removed by the Corporation Company on 15 30 days notice to the Trustee or upon shorter notice accepted by the Trustee. (c) Upon . Subsequent to a Change of in Control, as defined herein, the Trustee may not only be removed by the Corporation for 18 monthsCompany with the consent of the Participant. (d) Section 10.3 Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall subsequently be transferred to the successor Trustee. The transfer shall be completed within 30 120 days after receipt of notice of resignation, removal or transferall information reasonably required by Trustee to transfer assets to the successor Trustee, unless the Corporation Company extends the time limit. (e) Section 10.4 If the Trustee resigns or is removed, a successor shall be appointed, in accordance with Section 11 Article XI hereof, by the effective date of resignation or removal under paragraphs (a) or (b) sections 10.1 and 10.2 of this sectionarticle. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust.

Appears in 1 contract

Samples: Rabbi Trust Agreement (Visant Corp)

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