Common use of Dissolution/Bankruptcy Clause in Contracts

Dissolution/Bankruptcy. The Plan may be terminated and liquidated within 12 months of a corporate dissolution taxed under Code §331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under the Plan are included in the Participants’ gross incomes in the latest of: (i) The calendar year in which the plan termination and liquidation occurs (ii) The calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) The first calendar year in which the payment is administratively practicable.

Dissolution/Bankruptcy. The Plan may be terminated and liquidated within 12 months of a corporate dissolution taxed under Code §331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under the Plan are included in the Participants’ gross incomes in the latest of: : (i) The calendar year in which the plan termination and liquidation occurs occurs (ii) The calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or or (iii) The first calendar year in which the payment is administratively practicable.

Dissolution/Bankruptcy. The Plan may be terminated and liquidated within 12 months of a corporate dissolution taxed under Code §section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under the Plan are included in the Participants’ gross incomes in the latest of: (i) The calendar year in which the plan termination and liquidation occurs (ii) The calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) The first calendar year in which the payment is administratively practicable.

Dissolution/Bankruptcy. The Employer may terminate and liquidate the Plan may be terminated and liquidated within 12 months following a dissolution of a corporate dissolution taxed Employer taxable under Code §331, 331 or with the approval of a bankruptcy Bankruptcy court pursuant to under 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under Deferred Compensation is paid to the Plan are Participants and is included in the Participants’ gross incomes income in the latest of: of (or, if earlier, the Taxable Year in which the amount is actually or constructively received): (i) The the calendar year in which the plan termination and liquidation occurs ; (ii) The the first calendar year in which the amount is amounts no longer are subject to a substantial risk Substantial Risk of forfeitureForfeiture; or or (iii) The the first calendar year in which the payment is administratively practicable.