Common use of DISTRIBUTION OF BENEFITS FROM ATI PENSION PLAN TO WATER PIK INDIVIDUALS Clause in Contracts

DISTRIBUTION OF BENEFITS FROM ATI PENSION PLAN TO WATER PIK INDIVIDUALS. For purposes of the ATI Pension Plan, the date which is the earlier of the applicable of (i) a Water Pik's Individual's actual separation from service with Water Pik or (ii) April 1, 2000 shall be for each Water Pik Individual a separation from service with the employer and Water Pik Individuals who are eligible to commence receipt of benefits under the ATI Pension Plan may, in their respective discretion, apply at any time after the applicable date described above to commence benefits to the extent then payable and subject to the terms and conditions of the ATI Pension Plan. The Distribution Date does not, however, constitute and shall not be treated under the ATI Pension Plan as a sale or otherwise as an event permitting Water Pik Individuals to elect to receive a lump sum form of distribution under the ATI Pension Plan.