Common use of Disability Retirement Clause in Contracts

Disability Retirement. If so provided by the Employer in Section 1.06(c), a Participant who becomes disabled will have a 100-percent nonforfeitable interest in his Account, the balance of which Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8 below. A Participant is considered disabled if he cannot engage in any substantial, gainful activity because of a medically determinable physical or mental impairment likely to result in death or to be of a continuous period of not less than 12 months, and terminates his employment with the Employer. Such termination of employment is referred to as a disability retirement. Determinations with respect to disability shall be made by the Administrator who may rely on the criteria set forth in Section 1.06(c) as evidence that the Participant is disabled.

Appears in 9 contracts

Samples: Profit Sharing/401(k) Plan (Lexington Precision Corp), Profit Sharing / 401(k) Plan (Celadon Group Inc), Non Standardized Adoption Agreement (Marine Transport Corp)

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Disability Retirement. If so provided by the Employer in Section 1.06(c), a Participant who becomes disabled will have a 100-100 percent nonforfeitable interest in his Account, the balance of which Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8 below. A Participant is considered disabled if he cannot engage in any substantial, gainful activity because of a medically determinable physical or mental impairment likely to result in death or to be of a continuous period of not less than 12 months, and terminates his employment with the Employeremployer. Such termination of employment is referred to as a disability retirement. Determinations with respect to disability shall be made by the Administrator who may rely on the criteria set forth in Section 1.06(c) as evidence that the Participant is disabled.

Appears in 3 contracts

Samples: Corporate Plan for Retirement 100 Sm the Profit Sharing/401(k) Plan (Acadia Pharmaceuticals Inc), Profit Sharing/401(k) Plan (Jaymark Inc), Profit Sharing/401(k) Plan (Concord Communications Inc)

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Disability Retirement. If so provided by the Employer in Section 1.06(c), --------------------- a Participant who becomes disabled will have a 100-percent nonforfeitable interest in his Account, the balance of which Account, plus any amounts thereafter credited to his Account, subject to the provisions of Section 7.08, will be distributed to him in accordance with Article 8 below. A Participant is considered disabled if he cannot engage in any substantial, gainful activity because of a medically determinable physical or mental impairment likely to result in death or to be of a continuous period of not less than 12 months, and terminates his employment with the Employer. Such termination of employment is referred to as a disability retirement. Determinations with respect to disability shall be made by the Administrator who may rely on the criteria set forth in Section 1.06(c) as evidence that the Participant is disabled.

Appears in 1 contract

Samples: Adoption Agreement (Technitrol Inc)

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