Distribution to Participant Sample Clauses
The "Distribution to Participant" clause defines how and when benefits, funds, or assets are distributed to an individual participant under an agreement or plan. Typically, this clause outlines the conditions that must be met for a participant to receive distributions, such as reaching a certain age, completing a vesting period, or upon termination of employment. It may also specify the form of distribution, such as lump sum or installments. The core function of this clause is to ensure clarity and predictability regarding the timing and manner of distributions, thereby preventing disputes and misunderstandings between the parties involved.
Distribution to Participant. Unless a Participant waives the Qualified Joint and Survivor Annuity and elects an optional method of distribution (as described in section 10.6) on an Election Form pursuant to a Qualified Election within the Election Period, any distribution of such Participant's Vested Account Balance shall be paid in the form of (a) a Qualified Joint and Survivor Annuity for each such married Participant and his or her Spouse or (b) a Life Annuity for each such unmarried Participant. A Participant may elect that such annuity be distributed upon attainment of the Earliest Retirement Age.
Distribution to Participant. 23 6.02 FORM OF DISTRIBUTION TO A PARTICIPANT ............................. 26 6.03 DISTRIBUTIONS UPON THE DEATH OF A PARTICIPANT ..................... 27 6.04 FORM OF DISTRIBUTION TO BENEFICIARY ............................... 28 6.05
Distribution to Participant. 16 6.02 Form Of Distribution To A Participant ...........................
Distribution to Participant. Subject to section 10, Joint and Survivor Annuity Requirements, the life insurance contracts held as part of a Participant's Account shall be distributed in kind to the Participant upon retirement or other termination of employment as an Employee for reasons other than death (1) if such Account is completely nonforfeitable or (2) if the cash surrender value of such contracts is equal to or less than the nonforfeitable portion of the Participant's Account. If neither one of these conditions is satisfied and the Participant does not elect to purchase the life insurance contracts under section 13.1 (f), the Trustee shall surrender such contracts, add the proceeds to the Participant's Account and distribute the nonforfeitable percentage of the Participant's Account in accordance with section 10.
Distribution to Participant. A. DISTRIBUTABLE EVENTS
Distribution to Participant. 80 10.3 Distribution to Surviving Spouse............................ 80 10.4
Distribution to Participant. 21 6.2 Form of Distribution to a Participant.......................25 6.3 Distribution Upon the Death of a Participant................28 6.4 Rules for Participant's Spouse..............................31 6.5
Distribution to Participant. When Distributable-
Distribution to Participant. Subject to (S)10, JOINT AND SURVIVOR ANNUITY REQUIREMENTS, the life insurance contracts held as part of a Participant's Account shall be distributed in kind to the Participant upon retirement or other termination of employment as an Employee for reasons other than death (1) if such Account is completely nonforfeitable or (2) if the cash surrender value of such contracts is equal to or less than the nonforfeitable portion of the Participant's Account. If neither one of these conditions is satisfied and the Participant does not elect to purchase the life insurance contracts under (S)13.1(f), the Trustee shall surrender such contracts, add the proceeds to the Participant's Account and distribute the nonforfeitable percentage of the Participant's Account in accordance with (S)10.
Distribution to Participant. If the Participant terminates employment during the year in which the Participant has attained the specified age, the Company will pay the amount specified for that age in a single lump sum cash payment.