IMMEDIATE DISTRIBUTIONS. (a) Mandatory Cashouts of $1,000 or Less. If the value of the Participant's Vested Account Balance (including such Participant's Rollover Contribution Account, if any) is $1,000 or less, the Plan will immediately distribute the Participant's entire Vested Account Balance to the Participant without his consent as soon as practicable following his Severance from Service Date.
Appears in 2 contracts
Sources: Savings and Ownership Plan (Honeywell International Inc), Honeywell Puerto Rico Savings and Ownership Plan (Honeywell International Inc)