Common use of DISTRIBUTION OF TRUST FUND Clause in Contracts

DISTRIBUTION OF TRUST FUND. Subject to Section 13.06, the Trustee will make all distributions of benefits under the Plan in Employer Securities valued at fair market value at the time of distribution. The Trustee will pay in cash any fractional security share to which a Participant or his Beneficiary is entitled. In the event the Trustee is to make a distribution in shares of Employer Securities, the Trustee may apply any balance in a Participant's General Investments Account to provide whole shares of Employer Securities for distribution at the then fair market value. If the Employer's charter or bylaws restrict ownership of substantially all shares of Employer Securities to Employees, or to the Trust, as described in Code Section 409(h)(2), the Trustee will make the distribution of a Participant's Accrued Benefit entirely in cash. Notwithstanding the preceding provisions of this Section 10.08, the Trustee, if directed in writing by the Advisory Committee, will pay, in cash, any cash dividends on Employer Securities allocated, or allocable to Participants' Employer Securities Accounts, irrespective of whether a Participant is fully vested in his Employer Securities Account. The Advisory Committee's direction must state whether the Trustee is to pay the cash dividend distributions currently, or within the 90 day period following the close of the Plan Year in which the Employer pays the dividends to the Trust. The Advisory Committee may request the Employer to pay dividends on Employer Securities directly to Participants.

DISTRIBUTION OF TRUST FUND. Subject to Section 13.06, the The Trustee will make all distributions of benefits under the Plan in Employer Securities valued at fair market value at the time of distribution. The Trustee will pay in cash any fractional security share to which a Participant or his Beneficiary is entitled. In the event the Trustee is to make a distribution in shares of Employer Securities, the Trustee may apply any balance in a Participant's General Investments Account to provide whole shares of Employer Securities for distribution at the then fair market value. If Notwithstanding the preceding paragraph, (i) if the Employer's charter or bylaws restrict ownership of substantially all shares of Employer Securities to Employees, or to Employees and the Trust, as described in Code Section 409(h)(2), or (ii) the Employer is prohibited by law from redeeming or purchasing its own securities, as described in Code Section 409(h)(3), the Trustee will make the distribution of a Participant's Accrued Benefit entirely in cash. Notwithstanding the preceding provisions of this Section 10.08, the Trustee, if directed in writing by the Advisory Committee, will pay, in cash, any cash dividends on Employer Securities allocated, or allocable to Participants' Employer Securities Accounts, irrespective of whether a Participant is fully vested in his Employer Securities Account. The Advisory Committee's direction must state whether the Trustee is to pay the cash dividend distributions currently, or within the 90 90-day period following the close of the Plan Year in which the Employer pays the dividends to the Trust. The Advisory Committee may request the Employer to pay dividends on Employer Securities directly to Participants. In addition to the foregoing, the Trustee, if directed in writing by the Advisory Committee, shall use any cash dividends paid to the Trustee by the Employer with respect to the Employer Securities held by the Trust Fund to make payments on a loan described in Code Section 404(a)(9).

DISTRIBUTION OF TRUST FUND. Subject to Section 13.06, the The Trustee will make all distributions of benefits under the Plan in Employer Securities valued at fair market value at the time of distribution. The Trustee will pay in cash any fractional security share to which a Participant or his Beneficiary is entitled. In the event the Trustee is to make a distribution in shares of Employer Securities, the Trustee may apply any balance in a Participant's General Investments Account to provide whole shares of Employer Securities for distribution at the then fair market value. If the Employer's charter or bylaws restrict ownership of substantially all shares of Employer Securities to Employees, or to Employees and the Trust, as described in Code Section 409(h)(2), the Trustee will make the distribution of a Participant's Accrued Benefit entirely in cash. Notwithstanding the preceding provisions of this Section 10.08, the Trustee, if directed in writing by the Advisory Committee, will pay, in cash, any cash dividends on Employer Securities allocated, or allocable to Participants' Participants Employer Securities Accounts, irrespective of whether a Participant is fully vested in his Employer Securities Account. The Advisory Committee's direction must state whether the Trustee is to pay the cash dividend distributions currently, or within the 90 day period following the close of the Plan Year in which the Employer pays the dividends to the Trust. The Advisory Committee may request the Employer to pay dividends on Employer Securities directly to Participants.

DISTRIBUTION OF TRUST FUND. Subject to Section 13.06, the Trustee will make all distributions of benefits under the Plan in Employer Securities valued at fair market value at the time of distribution. The Trustee will pay in cash any fractional security share to which a Participant or his Beneficiary is entitled. In the event the Trustee is to make a distribution in shares of Employer Securities, the Trustee may apply any balance in a Participant's General Investments Account to provide whole shares of Employer Securities for distribution at the then fair market value. If the Employer's charter or bylaws restrict ownership of substantially all shares of Employer Securities to Employees, or to the Trust, as described in Code Section 409(h)(2ss.409(h)(2), the Trustee will make the distribution of a Participant's Accrued Benefit entirely in cash. Notwithstanding the preceding provisions of this Section 10.08, the Trustee, if directed in writing by the Advisory Committee, will pay, in cash, any cash dividends on Employer Securities allocated, or allocable to Participants' Employer Securities Accounts, irrespective of whether a Participant is fully vested in his Employer Securities Account. The Advisory Committee's direction must state whether the Trustee is to pay the cash dividend distributions currently, or within the 90 day period following the close of the Plan Year in which the Employer pays the dividends to the Trust. The Advisory Committee may request the Employer to pay dividends on Employer Securities directly to Participants.