Common use of Trustee's Compensation and Expenses Clause in Contracts

Trustee's Compensation and Expenses. The Trustee shall be paid such reasonable compensation as provided in the Service Agreement. The compensation of the Trustee and any reasonable expenses, including reasonable attorneys' fees and the cost of any bond, surety or other security which may be required of the Trustee by ERISA, incurred by the Trustee in the performance of its duties, and all other proper charges and disbursements of the Trustee may be paid by the Company within thirty (30) days after so billed, and will automatically be deducted from the Trust if, upon the expiration of thirty (30) days, such fees are not separately paid by the Company. All expenses (including taxes pursuant to Section 21) of the Trust, other than those expenses which are paid by the Company, which are allocable to an Investment Fund established pursuant to Section 6 shall be charged to such Investment Fund. All such expenses which are not so allocable shall be charged against each of the Investment Funds in the same proportion as the value of the assets held in such Investment Fund bears to the value of the total assets held in all of the Investment Funds. Any account maintenance or administration fees applicable to any Plan member's account which are not paid hereunder by the Company shall be charged against the interest of the Plan member and, in the case of a loan of a Plan member, if applicable, all expenses (including taxes pursuant to Section 21) of the Trust, other than those expenses which are paid by the Company, which are allocable to such loan, shall be charged against the interest of such Plan member under the Plan.

Appears in 1 contract

Samples: Trust Agreement (Unitil Corp)

AutoNDA by SimpleDocs

Trustee's Compensation and Expenses. The Trustee shall be paid such reasonable compensation as provided in the Service Fee Schedule attached to this Agreement. The compensation of the Trustee and any reasonable expenses, including reasonable attorneys' fees and the cost of any bond, surety or other security which may be required of the Trustee by ERISA, incurred by the Trustee in the performance of its duties, and all other proper charges and disbursements of the Trustee may be paid by the Company within thirty (30) days after so billed, and will automatically be deducted from the Trust if, upon the expiration of thirty (30) days, such fees are not separately paid by the Company. All expenses (including taxes pursuant to Section 2123) of the Trust, other than those expenses which are paid by the Company, which are allocable to an Investment Fund established pursuant to Section 6 8 shall be charged to such Investment Fund. All such expenses which are not so allocable shall be charged against each of the Investment Funds in the same proportion as the value of the assets held in such Investment Fund bears to the value of the total assets held in all of the Investment Funds. Any account maintenance or administration fees applicable to any Plan member's account which are not paid hereunder by the Company shall be charged against the interest of the Plan member and, in the case of a loan of a Plan member, if applicable, all expenses (including taxes pursuant to Section 2123) of the Trust, other than those expenses which are paid by the Company, which are allocable to such loan, shall be charged against the interest of such Plan member under the Plan.

Appears in 1 contract

Samples: Master Trust Agreement (Comcast Corp)

Trustee's Compensation and Expenses. The Trustee shall be paid such reasonable compensation as provided in the Service Agreement. Employees of the Company or of any Affiliate or Subsidiary of the Company who are Co-Trustees shall not receive additional compensation for serving as a Co-Trustee. The compensation of the Trustee and any reasonable expenses, including reasonable attorneys' fees and the cost of any bond, surety or other security which may be required of the Trustee by ERISA, incurred by the Trustee in the performance of its duties, and all other proper charges and disbursements of the Trustee may be paid by the Company within thirty (30) days after so billed, and will automatically be deducted from the Trust if, upon the expiration of thirty (30) days, such fees are not separately paid by the Company. All expenses (including taxes pursuant to Section 2123) of the Trust, other than those expenses which are paid by the Company, which are allocable to an Investment Fund established pursuant to Section 6 shall be charged to such Investment Fund. All such expenses which are not so allocable shall be charged against each of the Investment Funds in the same proportion as the value of the assets held in such Investment Fund bears to the value of the total assets held in all of the Investment Funds. Any account maintenance or administration fees applicable to any Plan memberParticipant's account which are not paid hereunder by the Company shall be charged against the interest of the Plan member Participant and, in the case of a loan of a Plan memberParticipant, if applicable, all expenses (including taxes pursuant to Section 2123) of the Trust, other than those expenses which are paid by the Company, which are allocable to such loan, shall be charged against the interest of such Plan member Participant under the Plan.

Appears in 1 contract

Samples: Trust Agreement (Hospira Inc)

AutoNDA by SimpleDocs

Trustee's Compensation and Expenses. The Trustee shall be paid such ----------------------------------- reasonable compensation as provided in the Service Fee Schedule attached to this Agreement. The compensation of the Trustee and any reasonable expensesexpenses which are authorized and referenced herein, including reasonable attorneys' fees and the cost of any bond, surety or other security which may be required of the Trustee by ERISA, incurred by the Trustee in the performance of its duties, and all other proper charges and disbursements of the Trustee may be paid by the Company within thirty (30) days after so billed, and will automatically be deducted from the Trust if, upon the expiration of thirty (30) days, such fees are not separately paid by the Company. With respect to any expenses not referenced herein, the Trustee shall promptly notify the Company of the need for such expenses and shall request authorization from the Company to incur such expenses and receive reimbursement thereof in the manner described above. Notwithstanding the foregoing, if it is not reasonably possible for the Trustee to notify the Company prior to incurring any expenses not referenced herein, the Trustee is hereby authorized to incur such expenses and request reimbursement thereof, in accordance with the procedures set forth in this section, provided that the Trustee notifies the Company of the incurrance of such expenses as soon as reasonably practicable thereafter. All expenses (including taxes pursuant to Section 2122) of the Trust, other than those expenses which are paid by the Company, which are allocable to an Investment Fund established pursuant to Section 6 shall be charged to such Investment Fund. All such expenses which are not so allocable shall be charged against each of the Investment Funds in the same proportion as the value of the assets held in such Investment Fund bears to the value of the total assets held in all of the Investment Funds. Any account maintenance or administration fees applicable to any Plan member's account which are not paid hereunder by the Company shall be charged against the interest of the Plan member and, in the case of a loan of a Plan member, if applicable, all expenses (including taxes pursuant to Section 2122) of the Trust, other than those expenses which are paid by the Company, which are allocable to such loan, shall be charged against the interest of such Plan member under the Plan.

Appears in 1 contract

Samples: Trust Agreement (Fairchild Corp)

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