Common use of Cancellation or Modification of Enrollment Agreements Following a Hardship Withdrawal Clause in Contracts

Cancellation or Modification of Enrollment Agreements Following a Hardship Withdrawal. (i) Hardship Withdrawal from this Plan. If a Participant receives a hardship withdrawal from this Plan pursuant to section 5.07, all his outstanding Enrollment Agreements shall be modified to require future Participant Deferrals of 6% of his future Compensation. The Participant may subsequently enter into new Enrollment Agreements at the usual times specified in subsection (c).

Appears in 2 contracts

Samples: Apache Corp, Apache Corp

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Cancellation or Modification of Enrollment Agreements Following a Hardship Withdrawal. (i) Hardship Withdrawal from this Plan. If a Participant receives a hardship withdrawal from this Plan pursuant to section 5.07, all his outstanding Enrollment Agreements shall be modified to require future Participant Deferrals of 6% of his future Compensationcancelled. The Participant may subsequently enter into new Enrollment Agreements at the usual times specified in subsection (c).

Appears in 1 contract

Samples: Apache Corp

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Cancellation or Modification of Enrollment Agreements Following a Hardship Withdrawal. (i) Hardship Withdrawal from this Plan. If a Participant receives a hardship withdrawal from this Plan pursuant to section 5.075.08, all his outstanding Enrollment Agreements shall be modified to require future Participant Deferrals of 6% of his future Compensation. The Participant may subsequently enter into new Enrollment Agreements at the usual times specified in subsection (c).

Appears in 1 contract

Samples: Apache Corp

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