Revocation Event

Example Definitions of "Revocation Event"
Revocation Event. A determination by the Board in its sole discretion that any of the following has occurred or is likely to occur: (i) A determination by the Department of Labor or a court of competent jurisdiction that the assets of the Trust are subject to Part 4 of Subtitle B of Title I of ERISA or that the Plan is a 'pension plan' (within the meaning of ERISA section 3(2)) subject to Parts 2, 3 and 4 of Subtitle B of Title I of ERISA; (ii) A determination by the Internal Revenue Service or a court of... competent jurisdiction that any amount deposited in the Trust is taxable to any Participant or beneficiary prior to the distribution of such amount; or (iii) A determination by the Company's independent public accountants that the accounting expense to the Companies of maintaining the Trust under the Plan is based on a value of the shares of Stock other than such value on the date shares of Stock are (A) acquired by the Trust or (B) credited to a Participant's Account. View More
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