DETERMINATION OF BENEFITS IN EVENT OF DISABILITY. In the event of a Participant's Total and Permanent Disability prior to his Retirement Date or other termination of his employment, all amounts credited to such Participant's Account shall become fully Vested. In the event of a Participant's Total and Permanent Disability, the Trustee, in accordance with the provisions of Sections 7.5 and 7.6, shall distribute to such Participant all amounts credited to such Participant's Account as though he had retired. If such Participant elects, distribution shall commence not later than one (1) year after the close of the Plan Year in which Total and Permanent Disability occurs.
Appears in 3 contracts
Samples: Employee Stock Ownership Plan and Trust Agreement (Allied Capital Corp), Employee Stock Ownership Plan (Atlantic Coast Airlines Inc), Employee Stock Ownership Plan and Trust (Uwharrie Capital Corp)
DETERMINATION OF BENEFITS IN EVENT OF DISABILITY. In the event of a Participant's ’s Total and Permanent Disability prior to his the Participant’s Retirement Date or other termination of his employment, all amounts credited to such Participant's ’s Combined Account shall become fully Vested. In the event of a Participant's ’s Total and Permanent Disability, the TrusteeAdministrator, in accordance with the provisions of Sections 7.5 and 7.6, shall distribute direct the distribution to such Participant of all Vested amounts credited to such Participant's Account as though he had retired’s Combined Account. If such Participant elects, distribution shall commence not later than one (1) year after the close of the Plan Year in which Total and Permanent Disability occurs.
Appears in 1 contract
Samples: Employee Profit Sharing and Stock Ownership Plan and Trust Agreement (PBSJ Corp /Fl/)
