PZ 3083/39 'Bahrain Petroleum Company Ltd. Booklets on 'Pound Sterling Thrift Plan' and 'US Dollar Thrift Plan'.' [‎18r] (35/76)

[1]
o,
TRUST AGREEMENT
THIS AGREEMENT dated this first day of July, 1939, by and
between THE BAHREIN PETROLEUM COMPANY LIMITED
(hereinafter called “Company”), a corporation duly organized under
the laws of the Dominion of Canada, and M. W. THORNBURG,
A. E. THAYER, and WM. KUNSTADTER (hereinafter jointh
and severally called “Trustees”).
WITNESSETH THAT:
WHEREAS, the Company, in order to share its profits with,
create certain death benefits for, and encourage thrift among, its
Employees, desires to establish a plan for certain of its Employees
who are paid in Rupees Indian silver coin also widely used in the Persian Gulf. , which is to be known as THE POUND
STERLING THRIFT PLAN OF THE BAHREIN PETROLEUM
COMPANY LIMITED (hereinafter referred to as the “Plan”) ; and
WHEREAS, the Company has caused to be prepared certain
RULES OF THE POUND STERLING THRIFT PLAN OF THE
BAHREIN PETROLEUM COMPANY LIMITED (hereinafter
called the “Rules”), a copy of which Rules is attached hereto;
NOW THEREFORE, in consideration of the premises, and of
the respective promises and agreements herein contained, and of the
promises and agreements contained in the applications of Employees
of the Company who become Members of the Plan, the Company
covenants and agrees with the Trustees for the benefit of such
Members as follows:
1. Rules. The Company and the Trustees hereby make the Rules
a part of this Agreement.
2. Definitions. Unless the context otherwise requires, all words
and phrases used in this Agreement and defined in the Rules shall
have the same meaning for the purposes of this Agreement as de
fined in the Rules.
3. Contributions. The Company shall deduct from the Salary
of each Member of the Plan the contributions which he authorizes
to be deducted under Rules 5 and 6 and promptly pay the same to