Common use of Benefit Upon Disability Clause in Contracts

Benefit Upon Disability. If a Participant suffers a Disability prior to Termination of Employment with the Employer, or if a Terminated Participant suffers a Disability prior to distribution of his or her Vested Aggregate Account, he or she will be entitled to his or her Vested Aggregate Account balance determined as of the most recent Valuation Date coinciding with or immediately preceding the date of distribution. Distribution will be made under Section 5.3.

Appears in 2 contracts

Samples: Non Standardized Prototype Adoption Agreement (Michaels Stores Inc), Littelfuse Inc /De

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Benefit Upon Disability. If a Participant suffers a Disability prior to Termination of Employment and terminates employment with the EmployerEmployer as a result of that Disability, or if a Terminated Participant suffers a Disability prior to a distribution of his or her Vested Aggregate AccountAccount balance, he or she will be entitled to his or her Vested Aggregate Account balance determined as of the most recent Valuation Date coinciding with or immediately preceding the date of distribution. Distribution will be made under Section 5.3.

Appears in 2 contracts

Samples: Picis Inc, Picis Inc

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Benefit Upon Disability. If a Participant suffers a Disability prior to Termination of Employment and terminates employment with the EmployerEmployer as a result of that Disability, or if a Terminated Participant suffers a Disability prior to a distribution of his or her Vested Aggregate AccountAccount balance, he or she will be entitled to his or her Vested Aggregate Account balance determined as of the most recent Valuation Date coinciding with or immediately preceding the date of distribution. Distribution will be made under in accordance with Section 5.3.

Appears in 1 contract

Samples: Agreement (Provident Bancorp Inc/Ny/)

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