Accelerated Distribution Events Sample Clauses
Accelerated Distribution Events. The following Accelerated Distribution Events will cause an accelerated distribution, as described in Table B, and are in lieu of the benefit described in Table A. Each benefit described under Table B is in lieu of any other benefit under Table B. • Voluntary Separation from Service (not considered a termination of employment for Good Reason) prior to Executive’s 65th birthday. An amount equal to the vested percentage (pursuant to the vesting schedule in Section 3.3) of the Deferral Account balance, calculated as of the date of the Accelerated Distribution Event, plus 100% of the Supplemental ESOP Account and Supplemental Savings Account. Single lump sum Payment will be made within 30 days following Separation from Service • Disability while employed by the Bank and prior to Executive’s 65th birthday. • Involuntary Separation from Service without “Cause” or termination of employment for Good Reason prior to Executive’s 65th birthday; or • Death An amount equal to 100% of the Deferral Account balance, calculated as of the date of the Accelerated Distribution Event, plus 100% of the Supplemental ESOP Account and Supplemental Savings Account. Single lump sum Payment will be made within 30 days following the Accelerated Distribution Event.
Accelerated Distribution Events. (Sections 4.06, 4.07 and 4.08 of the Plan.) In the event of one or more of the following, a Participant shall receive all of his vested Accrued Benefit: x Disability (as defined in the Plan) x Alternate Payee, other than the Participant, as necessary to fulfill a qualified domestic relations order x De Minimus Amounts. The Participant’s vested Accrued Benefit must be less than $10,000 (insert an amount no greater than $10,000). See Section 4.07 of the Plan for required timing of payment. x Payment of Employment Taxes.