PCG » Topics » Section 4. Payments if a Short-Fall of The Trust Assets Occurs
This excerpt taken from the PCG 10-K filed Feb 18, 2005.
Section 4. Payments if a Short-Fall of The Trust Assets Occurs
there are not sufficient assets for the payment of benefits pursuant to Section 2 or Section 3(c) hereof and the Company does not otherwise make such payments within
a reasonable time after demand from the Trustee, the Trustee shall make payment of benefits from the Trust to the Participants or their Beneficiaries in the following order of priority:
Participants and their Beneficiaries;
Participants over the age of 55 who were terminated within two years following a Change of Control and their Beneficiaries;
active Participants over the age of 55 and their Beneficiaries;
other vested active Participants and their Beneficiaries;
former Participants and their Beneficiaries; and
Participants and their Beneficiaries
each category set forth under Section 4(a), payments shall be prioritized in the following order:
receipt of a contribution from the Company necessary to make up for a short-fall in the payments due, the Trustee shall resume payments to all the Participants and
Beneficiaries under the Arrangements. Following a Change of Control, the Trustee shall have the right to compel a contribution to the Trust from the Company to make-up for any
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