Common use of Commencement of Distribution Clause in Contracts

Commencement of Distribution. All distributions shall be made or commenced to be made as soon as practicable after the valuation date coincident with or next following the occurrence of one of the distribution events described in this ARTICLE X. Upon written notice to the Committee no later than the end of the calendar month following the month in which termination occurs, a participant (or, in case of death, his beneficiary), entitled to a lump sum payment may make an irrevocable election to receive the value of his distribution on January 31st of the next succeeding calendar year. Alternatively, the participant may choose not to withdraw any of his vested accounts when one of the distribution events occurs, and later elect to have the distribution made upon written notice before a subsequent valuation date. However, unless the participant chooses to receive the distribution in the form of an annuity pursuant to Paragraph 10.3(a), only a full and complete distribution of the vested accounts will be allowed whether the participant withdraws his vested accounts at the time a distribu-tion event occurs or at some later date. No partial withdrawals shall be permitted. Notwithstanding, no distribution of three thousand five hundred dollars ($3,500.00) [five thousand dollars ($5,000.00) beginning January 1, 1998] or more shall be made to a participant unless the participant shall have consented in writing to such distribution, all in accordance with the provisions of Internal Revenue Code Section 411 and related regulations.

Commencement of Distribution. All distributions shall be made or commenced to be made as soon as practicable after the valuation date coincident with or next following the occurrence of one of the distribution events described in this ARTICLE X. Upon written notice to the Committee no later than the end of the calendar month following the month in which termination occurs, a participant (or, in case of death, his beneficiary), entitled to a lump sum payment may make an irrevocable election to receive the value of his distribution on January 31st of the next succeeding calendar year. Alternatively, the participant may choose not to withdraw any of his or her vested accounts in the investment options when one of the distribution events occurs, occurs and later elect to have the distribution made upon written notice before a subsequent valuation datemade. HoweverPrior to on or about September 1, unless the participant chooses to receive the distribution in the form of an annuity pursuant to Paragraph 10.3(a)2009, (1) only a full and complete distribution of the vested accounts will be allowed whether the participant withdraws his or her vested accounts at the time a distribu-tion distribution event occurs or at some later date. No , and (2) no partial withdrawals shall be permitted. Beginning on or about September 1, 2009, a participant who meets the requirements of this ARTICLE X may elect a distribution of a portion of his or her vested accounts, subject to reasonable administrative restrictions established by the Company. Notwithstanding, no distribution of three thousand five hundred dollars ($3,500.00) [five thousand dollars ($5,000.00) beginning January 1, 1998] or more shall be made to a participant unless the participant shall have consented in writing to such distribution, all in accordance with the provisions of Internal Revenue Code Section 411 and related regulations. Beginning January 1, 2002, with respect to participants separating from service and distributions after that date, the value of a participant’s vested accounts shall be determined without regard to that portion of the vested account that is attributable to rollover contributions (and any earnings allocable thereto) within the meaning of Code Section 402(c). If the value of the participant’s vested accounts, including rollover contributions (and any earnings attributable thereto) as so determined is one thousand dollars ($1,000.00) or less, the Plan shall immediately distribute the participant’s entire vested account balance.

Commencement of Distribution. All distributions shall be made or commenced to be made as soon as practicable after the valuation date coincident with or next following the occurrence of one of the distribution events described in this ARTICLE X. Upon written notice to the Committee no later than the end of the calendar month following the month in which termination occurs, a participant (or, in case of death, his beneficiary), entitled to a lump sum payment may make an irrevocable election to receive the value of his distribution on January 31st of the next succeeding calendar year. Alternatively, the participant may choose not to withdraw any of his vested accounts when one of the distribution events occurs, and later elect to have the distribution made upon written notice before a subsequent valuation date. However, unless the participant chooses to receive the distribution in the form of an annuity pursuant to Paragraph 10.3(a), only a full and complete distribution of the vested accounts will be allowed whether the participant withdraws his vested accounts at the time a distribu-distribu- tion event occurs or at some later date. No partial withdrawals shall be permitted. Notwithstanding, no distribution of three thousand five hundred dollars ($3,500.00) [five thousand dollars ($5,000.00) beginning January 1, 1998] or more shall be made to a participant unless the participant shall have consented in writing to such distribution, all in accordance with the provisions of Internal Revenue Code Section 411 and related regulations.. 10.5

Commencement of Distribution. All distributions shall be made or commenced to be made as soon as practicable after the valuation date coincident with or next following the occurrence of one of the distribution events described in this ARTICLE X. Upon written notice to the Committee no later than the end of the calendar month following the month in which termination occurs, a participant (or, in case of death, his beneficiary), entitled to a lump sum payment may make an irrevocable election to receive the value of his distribution on January 31st of the next succeeding calendar year. Alternatively, the participant may choose not to withdraw any of his vested accounts when one of the distribution events occurs, and later elect to have the distribution made upon written notice before a subsequent valuation date. However, unless the participant chooses to receive the distribution in the form of an annuity pursuant to Paragraph 10.3(a), only a full and complete distribution of the vested accounts will be allowed whether the participant withdraws his vested accounts at the time a distribu-tion event occurs or at some later date. No partial withdrawals shall be permitted. Notwithstanding, no distribution of three thousand five hundred dollars ($3,500.00) [five thousand dollars ($5,000.00) beginning January 1, 1998] or more shall be made to a participant unless the participant shall have consented in writing to such distribution, all in accordance with the provisions of Internal Revenue Code Section 411 and related regulations.. Beginning January 1, 2002, with respect to participants separating from service and distributions after that date, the value of a participant’s vested accounts shall be determined without regard to that portion of the vested account that is attributable to rollover contributions (and any earnings allocable thereto) within the meaning of Code Section 402(c). If the value of the participant’s vested accounts as so determined is five thousand dollars ($5,000.00) or less, the Plan shall immediately distribute the participant’s entire vested account balance. 10.5