Common use of Education Distributions Clause in Contracts

Education Distributions. Education accounts are permitted under the Plan: x (a) Yes, with respect to: x Participant Deferral Credits only. ¨ Employer Credits only. ¨ Participant Deferral and Employer Credits. Education distributions may be made in the following manner: x Single lump sum payment. x Annual installment payments over no more than 5 years. ¨ Monthly installment payments over no more than _____________ years. If applicable, amounts not vested at the specified time of distribution will be: ¨ Forfeited. ¨ Distributed annually when vested. ¨ (b) No education distributions permitted.

Appears in 1 contract

Samples: Executive Nonqualified Excess Plan Adoption Agreement (Synplicity Inc)

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Education Distributions. Education accounts are permitted under the Plan: x : (a) Yes, with respect to: x Participant XX Salary Deferral Credits only. ¨ Employer Credits only. ¨ Participant Salary Deferral and Employer Credits. Education distributions may be made in the following manner: x XX Single lump sum payment. x XX Annual installment payments over no more than 5 years. ¨ Monthly installment payments over no more than _____________ years. If applicable, amounts not vested at the specified time of distribution will be: ¨ Forfeited. ¨ Forfeited Distributed annually when vested. ¨ (b) No education distributions permitted.

Appears in 1 contract

Samples: Adoption Agreement (Paperweight Development Corp)

Education Distributions. Education accounts are permitted under the Plan: x XX (a) Yes, with respect to: x XX Participant Deferral Credits only. ¨ ____ Employer Credits only. ¨ ____ Participant Deferral and Employer Credits. Education distributions may be made in the following manner: x ____ Single lump sum payment. x XX Annual installment payments over no more than 5 years. ¨ Monthly installment payments over no more than _____________ SIX years. If applicable, amounts not vested at the specified time of distribution will be: ¨ Forfeited. ¨ ____ Forfeited ____ Distributed annually when vested. ¨ (b) No education distributions permitted.

Appears in 1 contract

Samples: Executive Nonqualified Excess Plan Adoption Agreement (Gladstone Capital Corp)

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Education Distributions. Education accounts are permitted under the Plan: x (a) Yes, with respect to: x ¨ Participant Deferral Credits only. ¨ Employer Credits only. ¨ x Participant Deferral and Employer Credits. Education distributions may be made in the following manner: x Single lump sum payment. x Annual installment payments over no more than 5 years. ¨ Monthly installment payments over no more than _____________ years. If applicable, amounts not vested at the specified time of distribution will be: ¨ Forfeited. ¨ Forfeited x Distributed annually when vested. vested ¨ (b) No education distributions permitted.

Appears in 1 contract

Samples: Executive Nonqualified Excess Plan Adoption Agreement (Nobel Learning Communities Inc)

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