Term and Revocability. The Trust hereby established is revocable by the Company but shall become irrevocable upon the occurrence of a Change in Control. At any time prior to a Change in Control, this Trust may be terminated by the Committee. Upon or after a Change in Control, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company.
Appears in 2 contracts
Samples: Trust Agreement (Sunoco Inc), Trust Agreement (Sunoco Inc)
Term and Revocability. The Trust hereby established is revocable by the Company Company, but shall become irrevocable upon the occurrence of a Potential Change in Control or a Change in Control. At any time prior to following the occurrence of a Potential Change in Control, this Trust may not be terminated either by the CommitteeCompany or the Board of Directors (or any member or committee thereof). Upon or after a Change in Control, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company.
Appears in 2 contracts
Samples: Deferred Compensation and Benefits Trust Agreement (Sunoco Inc), Deferred Compensation and Benefits Trust Agreement (Sunoco Inc)
Term and Revocability. The Trust hereby established is revocable by the Company Company, but shall become irrevocable upon the occurrence of a Change in Control. At any time prior to a Change in ControlControl of the Company, this Trust may be terminated by the Compensation Committee. Upon or after a Change in ControlControl of the Company, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company.
Appears in 1 contract
Term and Revocability. The Trust hereby established is revocable by the Company Company; but shall become irrevocable upon the occurrence of a Change in Control. At any time prior to a Change in ControlControl of the Company, this Trust may be terminated by the Committee. Upon or after a Change in ControlControl of the Company, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company.
Appears in 1 contract
Samples: Trust Agreement (Sunoco Inc)
Term and Revocability. The Trust hereby established is revocable by --------------------- the Company Company; but shall become irrevocable upon the occurrence of a Change in Control. At any time prior to a Change in Control, this Trust may be terminated by the Committee. Upon or after a Change in Control, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company.
Appears in 1 contract
Samples: Sunoco Inc
Term and Revocability. The Trust hereby established is revocable by --------------------- the Company Company, but shall become irrevocable upon the occurrence of a Potential Change in Control or a Change in Control. At any time prior to following the occurrence of a Potential Change in Control, this Trust may not be terminated either by the CommitteeCompany or the Board of Directors (or any member or committee thereof). Upon or after a Change in Control, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company.
Appears in 1 contract
Samples: Sunoco Inc
Term and Revocability. The Trust hereby established is revocable by the Company Company, but shall become irrevocable upon the occurrence of a Potential Change in Control. At any time prior to following the occurrence of a Potential Change in ControlControl of the Company, this Trust may not be terminated either by the CommitteeCompany or the Board of Directors (or any member or committee thereof). Upon or after a Change in ControlControl of the Company, this Trust shall not terminate until the date on which Plan Participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans. Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company."
Appears in 1 contract
Samples: Compensation and Benefits Trust Agreement (Sunoco Inc)