Trust Beneficiaries. The Executive is the intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto. Following the death of the Executive, his rights as the intended beneficiary under this Trust may be exercised by the person or entity which, pursuant to the terms of the Employment Agreement, would be entitled to receive the amounts that would otherwise have been distributed to the Executive hereunder.
Trust Beneficiaries. Each Executive is an intended ------------------- beneficiary ("Trust Beneficiary") under this Trust, and as a Trust Beneficiary shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto. The term Trust Beneficiary shall, to the extent provided in the Agreements respecting a deceased Executive, also mean the legal representative of the estate of such deceased Executive and the surviving spouse of the deceased Executive or beneficiary designated by such Executive in accordance with the terms of such Agreements.
Trust Beneficiaries. The beneficiaries of the Trust, as their respective rights and interests in and to this Trust are hereinafter set forth, are (a) the Settlor, (b) the Settlor’s spouse, XXXXXX XXXXXX XXXXX, and (c) the Settlor’s children, XXXX XXXXXXX XXXXX and XX XXXXXX XXXXX.
Trust Beneficiaries. Each Executive is an intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto. The Executives shall have no preferred claim on, or any beneficial ownership in, the Trust Corpus, and all rights created hereunder and the Plans shall be mere unsecured contractual rights of the Executives against the Company and the status of the Executives shall only be as general unsecured creditors. Benefits to the Executives hereunder may not be anticipated, assigned, transferred, pledged or otherwise conveyed. The Company may, in its sole discretion, at any time and from time to time, by means of a modified Payment Schedule accompanied by revised Schedules A and C, (i) provide for coverage hereunder of any other Company plan, agreement or executive and (ii) upon termination of any Plan or final payment of all amounts thereunder, exclude such Plan and the Executives who are participants therein from coverage hereunder.
Trust Beneficiaries. Each Participant (and Beneficiary of a deceased Participant) is an intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto.
Trust Beneficiaries. The beneficiaries shall be the named shareholders of On the Go Healthcare, Inc. as of the date the shares are traded on the over the counter bulletin board
Trust Beneficiaries. With respect to such Xxxxxx Party if it is a Trust, no beneficiary, grantee or appointee of such Trust will have any right, claim, action, suit or complaint, whether based in contract, tort or breach of fiduciary or similar duty, against such Trust as a result of the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby.
Trust Beneficiaries. The Company shall have the right to enforce any provision of this Trust Agreement prior to a Change in Control and, on or after a Change in Control, any Participant shall have the right as a beneficiary of the Trust to enforce all terms and provisions of this Trust Agreement with the same force and effect as if such person were a party hereto, except to the extent actions are required to be taken or consented to by the Participant Representatives. Notwithstanding the foregoing, no Participant shall have any beneficial ownership interest in or preferred claim as to any portion of the Trust Fund prior to receiving payment therefrom, since the rights of Participants hereunder are unsecured contractual rights only. The Participants in the Plan as of the date hereof are listed in the initial Participant Information delivered to the Trustee by the Company concurrently herewith. As new persons become Participants in the Plan from time to time, they shall be included in the next following update of the Participant Information delivered to the Trustee by the Company. It shall be the responsibility of the Company, without recourse to the Trust Fund, to reimburse any expenses (including attorneys' fees) incurred by a Participant after a Change in Control in connection with the enforcement of any rights hereunder of such Participant. If the Company fails or refuses to make such reimbursement, in whole or in part, within 20 days after receipt of demand therefor accompanied by appropriate documentation of such fees or other expenses, such Participant may, without prejudice to his right to receive full reimbursement from the Company, demand payment of such amount from the Trust Fund, in which case the Trustee, upon receipt from the Participant Representatives of a written direction to pay, shall make such payment as soon as practicable.
Trust Beneficiaries. Each Executive is an intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto.
Trust Beneficiaries. Upon and after a Change in Control of the Company, each Executive is an intended beneficiary under this Trust, and shall be entitled to enforce all terms and provisions hereof with the same force and effect as if such person had been a party hereto.
