TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 5.1 The Trustee shall notify the Plan Administrator of any tax levied upon or assessed against the Trust Fund of which the Trustee has knowledge. If the Trustee receives no instructions from the Administrator, the Trustee may pay the tax from the Trust Fund. If the Plan Administrator wishes to contest the tax assessment, it shall give appropriate written instructions to the Trustee. The Trustee shall not be required to bring any legal actions or proceedings to contest the validity of any tax assessments unless the Trustee has been indemnified to its satisfaction against loss or expense related to such actions or proceedings, including reasonable attorney’s fees.
5.2 The Company shall quarterly pay the Trustee its expenses in administering the Trust Fund and reasonable compensation for its services as Trustee as described in the SchwabPlan® Services Agreement, which may be amended from time to time. Trustee reserves the right to alter this rate of compensation at any time by providing the Company with written notice of such change at least sixty days prior to its effective date. Reasonable compensation shall include compensation for any extraordinary services or computations required, such as determination of the value of assets when current market values are not published, and the covering of overdrafts. The Trustee shall have a lien on the Trust Fund for compensation and for any reasonable expenses including counsel, appraisal, or accounting fees, and such amounts may be withdrawn from the Trust Fund unless paid by the Company within thirty days after mailing of the written billing by the Trustee.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. (a) The Corporation shall pay any federal, state, local or other taxes imposed with respect to the assets or income of the Trust Fund. At the direction of the Corporation (or, following a Change of Control, at the direction of the Independent Administrator), the Trustee shall deduct any payroll or income taxes required to be withheld from any payments made to Participants or their beneficiaries from the Trust Fund.
(b) The fees and expenses of the Trustee may be revised from time to time as agreed to by the parties. The Trustee’s reasonable expenses, including but not limited to the retention of legal counsel, accountants and actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform its services as Trustee, shall be charged to and payable from the Trust Fund on a monthly basis, or on such other basis as the Trustee deems reasonable, except to the extent that such fees and expenses are paid by the Corporation.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. (a) The Corporation shall pay any federal, state, local or other taxes imposed with respect to the assets or income of the Trust Fund. The Corporation (or, following a Change of Control, the Independent Administrator) will perform any tax calculation, withholding, reporting, and remitting to the appropriate taxing authorities of any federal, state, or local income, wage, or other taxes that may be required to be calculated, withheld, reported, or remitted with respect to any payments made to Participants or their beneficiaries from the Trust Fund. The Trustee will have no responsibility for the same, except as directed in every detail by the Corporation or the Independent Administrator, as the case may be.
(b) The fees and expenses of the Trustee may be revised from time to time as agreed to by the parties. A schedule of the Trustee’s fees and expenses shall be agreed upon by the parties hereto. The Trustee’s reasonable expenses, including but not limited to the retention of legal counsel, accountants and actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform its services as Trustee, shall be charged to and payable from the Trust Fund on a monthly basis, or on such other basis as the Trustee deems reasonable, except to the extent that such fees and expenses are paid by the Corporation.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. (a) It is the intention of the Company to have the corpus and income of the Trust established hereunder treated as assets and income of the Company to be used to satisfy the Company’s legal liability under the Plan in respect of all of the Executives, and the Company agrees that all income, deductions and credits of the Trust Fund belong to the Company as owner for income tax purposes and will be included on the Company’s income tax returns.
(b) The Company shall from time to time pay taxes (references in this Agreement to the payment of taxes shall include interest and applicable penalties) of any and all kinds whatsoever which at any time are lawfully levied or upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any security transaction pertaining thereto. To the extent that any taxes levied or assessed upon the Trust Fund are not paid by the Company or contested by the Company pursuant to the last sentence of this Article, the Trustee shall pay such taxes out of the Trust Fund, and the Company shall, upon demand by the Trustee, deposit into the Trust Fund an amount equal to the amount paid from the Trust Fund to satisfy such tax liability. If requested by the Company, the Trustee shall at the Company’s expense, contest the validity of such taxes in any manner deemed appropriate by the Company or its counsel, but only if it has received an indemnity bond or other security satisfactory to it to pay any expenses of such contest. Alternatively, the Company may itself contest the validity of any such taxes, but any such contest shall not affect the Company’s obligation to reimburse the Trust Fund for taxes paid from the Trust Fund.
(c) In making payments from the Trust, the Trustee shall be liable for federal income tax withholding, and shall withhold the appropriate amount of tax, if any, as provided by applicable law and regulation, from any payment made to a Trust Beneficiary, unless the Company does not provide the Trustee with the necessary information as set forth in regulations, in which case the Company shall assume all relevant liability.
(d) The Trustee may be paid compensation by the Company in accordance with any written agreement for this purpose between them; provided, however, that a Trustee who is an officer, director or employee of the Company shall serve without compensation. The Trustee shall be reimbursed by the Company for its reasonable expenses of management and administration of t...
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. (a) The Company shall pay any federal, state, local or other taxes imposed with respect to the assets or income of the Trust Fund. At the direction of the Company (or, following a Change of Control, at the direction of the Independent Administrator), the Trustee shall deduct any payroll or income taxes required to be withheld from any payments made to Participants or their beneficiaries from the Trust Fund.
(b) The fees and expenses of the Trustee set forth in Schedule 2 as it may be amended from time to time in accordance with the published fee schedule of the Trustee and the Trustee’s reasonable expenses, including but not limited to the retention of legal counsel, accountants and actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform its services as Trustee, shall be charged to and payable from the Trust Fund on a monthly basis, or on such other basis as the Trustee deems reasonable, except to the extent that such fees and expenses are paid by the Company.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. The Company shall pay any federal, state, local or other taxes imposed with respect to the assets or income of the Trust Fund. The fees and expenses of the Trustee may be revised from time to time as agreed to by the parties. A schedule of the Trustee's fees and expenses shall be agreed upon by the parties hereto. The Trustee's reasonable expenses, including but not limited to the retention of legal counsel, accountants and actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform its services as Trustee, shall be charged to and payable from the Trust Fund on a monthly basis, or on such other basis as the Trustee deems reasonable, except to the extent that such fees and expenses are paid by the Company.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 11 5.1 TAXES . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 5.2
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 9.1 The Company shall pay any Federal, state, local or other taxes imposed or levied with respect to the assets and/or income of the Trust or any part thereof under existing or future laws, and the Company, in its discretion, or the Trustee, at the direction and expense of the Company (or if the Company does not pay such expense, at the expense of the Trust), may contest the validity or amount of any tax, assessment, claim or demand respecting the Trust or any part thereof. The Trustee shall deduct any payroll and other taxes required to be withheld with respect to any payments made to Participants pursuant to the Trust.
9.2 The Trustee shall be reimbursed by the Company on a monthly basis, or on such other basis as agreed to by the Trustee and the Company, for the fees and expenses set forth in Schedule 2 attached hereto and its reasonable expenses, including but not limited to the retention of legal counsel (including legal counsel and other professionals retained pursuant to Article 10 and to legal counsel retained to represent the Trustee in any action brought by the Company or any Participant against the Trustee), accountants, actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform its services as Trustee. The Trustee may pay such fees and expenses from the Trustee Expense Account unless the Company pays such amount directly to the Trustee within 15 days after written demand for such payment. In the event that payment is made hereunder to the Trustee from the Trustee Expense Account, the Trustee shall promptly notify the Company in writing of the amount of such payment. In the event that the funds in the Trust are insufficient, the Trustee shall have no obligation to expend its own funds in payment thereof. Prior to a Change in Control, the Company shall have the right to review such fees and expenses.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 10.1 The Company shall pay any federal, state, local or other taxes imposed or levied with respect to the assets and/or income of this Trust or any part thereof under existing or future laws, and the Company, in its discretion, may contest the validity or amount of any tax, assessment, claim or demand respecting this Trust or any part thereof. To the extent not deducted and paid by the Company, the Trustee shall deduct and pay to the appropriate taxing authorities any payroll taxes required to be withheld with respect to any payments made pursuant to this Trust.
10.2 The Trustee shall be reimbursed by the Company on a monthly basis, or on such other basis as the Trustee deems reasonable, for the fees and expenses set forth in Schedule 3 attached hereto and its reasonable expenses, including but not limited to the retention of legal counsel (including but not limited to legal counsel and other professionals retained pursuant to Article 11 and to legal counsel retained to represent the Trustee in any action brought by the Company or any Participant against the Trustee), accountants and actuaries and such other professionals as the Trustee determines are necessary or appropriate to enable it to perform its services as Trustee.
TAXES, EXPENSES AND COMPENSATION OF TRUSTEE. 5.1 TAXES -- The Trustee shall deduct from and charge against the Trust Fund any taxes on the Trust Fund or the income thereof or which the Trustee is required to pay with respect to the interest of any person therein.
