Executive Participants definition

Executive Participants means the individuals listed on Exhibit A-2 hereto; (b) the “Fully Funded” amount with respect to the account of an Executive maintained pursuant to Section 7(b) hereof shall be equal to the “Threshold Percentage,” as defined below, multiplied by the maximum” actuarial present value of the future Benefits that could become payable under the Agreement and the Plans with respect to the Trust Beneficiaries of such Executive, (c) the “Account Excess” with respect to such account shall be equal to the excess, if any, of the fair market value of the assets held in the Trust allocated to an Executive’s account over the respective Fully Funded amount, and (d) the “Aggregate Account Excess” with respect to a Participating Employer shall be equal to the excess, if any, of the aggregate account balances of Executives then employed by the Participating Employer, or for whom such Participating Employer has obligations and liabilities or has assumed obligations and liabilities pursuant to a Deposit Agreement, over their aggregate Fully Funded amounts. Unless otherwise provided, the Threshold Percentage shall be equal to 125%. The Trustee shall allocate any Account Excess in accordance with Section 7(b) hereof. Thereafter, upon the request of Ameritrust, the Trustee shall pay to the Participating Employer its Aggregate Account Excess; provided, however, that if such payment would leave the Trustee with insufficient liquid assets to pay all premiums due and to become due on any life insurance policies held in the Trust, the Trustee shall retain sufficient liquid assets to pay such premiums.

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Executive Participants means the Mandatory Participants and other executive officers, if any, designated by the Committee to participate in Tranche 1 of a Performance Pool, as provided in Section 3(c) hereof.

Examples of Executive Participants in a sentence

On or after such date, such removal shall also require the agreement of two thirds of the Executive Participants.
Notwithstanding the previous sentence, (x) amendments contemplated by Section 9 hereof shall be made as therein provided, and (y) the approval by Ameritrust or by two thirds of the Executive Participants shall not be required for any amendment necessary in order to obtain a favorable private letter ruling from the Internal Revenue Service regarding the effect of the Trust on the taxation of the Participating Employers or the Trust Beneficiaries.
On or after such date, such appointment shall also require the agreement of two thirds of the Executive Participants.
The Trustee may resign and be discharged from its duties hereunder after providing not less than ninety (90) days’ notice in writing to Ameritrust and the Executive Participants.
The Trustee may resign and be discharged from its duties hereunder after providing not less than ninety (90) days' notice in writing to Ameritrust and the Executive Participants.
The independent actuary shall make its calculations based upon the assumptions set forth in Exhibit C hereto, or such other assumptions as are recommended by such actuary and approved by Ameritrust and, if the Trust is irrevocable, by two-thirds of the Executive Participants, as hereafter defined (subject to the provisions of Sections 10(b)(i) and (b)(ii) hereof).
No amendment, waiver or modification hereto or hereunder shall be valid unless in writing signed by the Buyer and the Seller; provided, however, that any amendment, waiver or modification to Article 13 that significantly and adversely affects an Executive Participant in a manner that is different than the other Executive Participants shall require the written consent of such Executive Participant.
If the Seller or any of the Executive Participants so desires, and without the need for any further consent or waiver by the Company or the Buyer, SMRH shall be permitted to represent any or all of the Seller and the Executive Participants after the Closing in connection with the transactions contemplated by this Agreement or any disagreement or dispute relating thereto.
Buyer agrees that after the Closing, (i) the Seller and the Executive Participants shall have exclusive authority at all times to access any files or communications of SMRH relating to the Acquisition Engagement, and (ii) the Buyer shall not cause either of the Company or any Subsidiary of the Company to access any such communications or files.

More Definitions of Executive Participants

Executive Participants means each Participant who is subject to Section 16(a) of the Exchange Act at the time such Participant's Award under the Plan is determined.