DETERMINATION OF BENEFITS UPON DEATH Sample Clauses

DETERMINATION OF BENEFITS UPON DEATH. (a) Upon the death of a Participant before the Participant's Retirement Date or other termination of employment, all amounts credited to such Participant's Combined Account shall, if elected in the Adoption Agreement, become fully Vested. The Administrator shall direct, in accordance with the provisions of Sections 6.6 and 6.7, the distribution of the deceased Participant's Vested accounts to the Participant's Beneficiary.
Sample 1Sample 2Sample 3See All (11)
AutoNDA by SimpleDocs
DETERMINATION OF BENEFITS UPON DEATH. (a) Upon the death of a Participant before the Participant’s Retirement Date or other termination of employment, all amounts credited to such Participant’s Combined Account shall become fully Vested. If elected, distribution of the Participant’s Combined Account shall commence not later than one ( 1) year after the close of the Plan Year in which such Participant’s death occurs. The Administrator shall direct the Trustee, in accordance with the provisions of Sections 7.5 and 7.6, to distribute the value of the deceased Participant’s accounts to the Participant’s Beneficiary.
Sample 1
DETERMINATION OF BENEFITS UPON DEATH. (a) Upon the death of a Participant (whether before or after his Retirement Date) who was not receiving benefits under this Plan prior to death, the Participant’s Beneficiary shall be entitled to a benefit equal to all amounts credited to the deceased Participant’s Account. Distribution of any death benefits under this Section 6.3(a) shall commence within 30 days after the death of the Participant, in accordance with Section 6.4.
Sample 1
DETERMINATION OF BENEFITS UPON DEATH. 48 Section 6.03 Determination of Benefits in Event of Disability........................ 49 Section 6.04
Sample 1
DETERMINATION OF BENEFITS UPON DEATH. (A) Upon the death of a Participant before retirement or other termination of employment, and within one hundred twenty (120) days after the end of the Plan Year in which proof of death is received, the Plan Administrator shall direct the Trustee, in accordance with the provisions of Section 6.03, to distribute the value of the deceased Participant's account to the Participant's beneficiary.
Sample 1
DETERMINATION OF BENEFITS UPON DEATH. Upon the death of a Participant before retirement or other termination of his employment, all amounts credited to such Participant's Account shall become fully Vested. As of the Anniversary Date coinciding with or next following such death, the Administrator shall direct the Trustee, in accordance with the provisions of the Plan, to distribute the value of the deceased Participant's Account to the Participant's Beneficiary. Unless elected in a writing consent to by the Participant's spouse the Beneficiary of the death benefit shall be the Participant's spouse, who shall receive such benefit in the form of a Qualified Preretirement Survivor Annuity. Such consent must be witnessed by a plan representative or a notary public and shall be limited to a benefit for a specific alternate beneficiary. Such consent shall not be valid with respect to any other spouse of the Participant. No consent will be needed if the Participant establishes to the satisfaction of a plan representative that the Participant has no spouse, or the spouse cannot be located, or other circumstances preclude the necessity of the spouse's consent. in such event, the designation of a Beneficiary shall be made on a form satisfactory to the Administrator. A Participant may at any time revoke his designation of a Beneficiary or change his Beneficiary by filling written notice of such revocation or change with the Administrator. However the Participant's spouse must again consent in writing as described above, to any such change or revocation unless the surviving spouse is to receive a Qualified Preretirement Survivor Annuity. The Administrator may require such proper proof of death and such evidence of the right of any person to receive payment of the account of a deceased Participant or a deceased Former Participant as the Administrator may deem desirable. The' Administrator's determination of death and of the right of any person to receive payment shall be conclusive. In the event of any conflict between the terms of this Plan and terms of any Contract issued hereunder, the Plan provisions shall control. Upon the death of a Participant subsequent to the commencement of his retirement benefits, his Beneficiary shall be entitled to whatever death benefit may be available under the settlement arrangement pursuant to which the Participant's benefit is made payable. Notwithstanding anything herein to the contrary, for any Plan year which begins on or after January I, 1985, unless otherwise elected...
Sample 1
DETERMINATION OF BENEFITS UPON DEATH. (a) 100% Vesting on death. Upon the death of a Participant before the Participant’s Retirement Date or other termination of employment, all amounts credited to such Participant’s Account shall become fully Vested.
Sample 1
AutoNDA by SimpleDocs
DETERMINATION OF BENEFITS UPON DEATH 
Sample 1

Related to DETERMINATION OF BENEFITS UPON DEATH

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Certain Benefits Upon Termination Executive’s employment shall be terminated upon the earlier of (i) the voluntary resignation of Executive with or without Good Reason; (ii) Executive’s death or permanent disability; or (iii) upon the termination of Executive’s employment by LTC for any reason at any time. In the event of such termination, the below provisions of this Section 6 shall apply, and in the event of a Change in Control, whether or not Executive’s employment is terminated thereby, Section 6(b) shall apply.

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Termination of Benefit Plans Effective as of the day immediately preceding the Closing Date, the Company shall terminate all Company Employee Plans that are “employee benefit plans” subject to ERISA including any Company Employee Plans intended to include a Code Section 401(k) arrangement (unless Buyer provides written notice to the Company no later than three Business Days prior to the Closing Date that such 401(k) plans shall not be terminated). Unless Buyer provides such written notice to the Company, no later than three Business Days prior to the Closing Date, the Company shall provide Buyer with evidence that such Company Employee Plan(s) have been terminated (effective no later than the day immediately preceding the Closing Date) pursuant to resolutions of the Company Board. The form and substance of such resolutions shall be subject to review and approval of Buyer. The Company also shall take such other actions in furtherance of terminating such Company Employee Plan(s) as Buyer may reasonably require. In the event that termination of the Company’s 401(k) Plan would reasonably be anticipated to trigger liquidation charges, surrender charges or other fees then the Company shall take such actions as are necessary to reasonably estimate the amount of such charges and/or fees and provide such estimate in writing to Buyer no later than ten Business Days prior to the Closing Date.

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of the Executive (whether payable or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then the Payment shall be reduced to the extent necessary to avoid the imposition of the Excise Tax. The Executive may select the Payments to be limited or reduced.

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Non-Alienation of Benefits No benefit hereunder shall be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt to do so shall be void.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!