Common use of Events of Maturity Clause in Contracts

Events of Maturity. A Participant’s Account shall mature and the Vested portion shall become distributable in accordance with Section 7 upon the earliest occurrence of any of the following events while in the employment of the Employer or an Affiliate: (a) the Participant’s death; (b) the Participant’s termination of employment, whether voluntary or involuntary; (c) the attainment of age seventy and one‑half (70‑1/2) years by a Participant who is a five percent (5%) owner (as defined in Appendix B) at any time during the year in which the Participant attained age seventy and one‑half (70‑1/2) years and the crediting of any amounts to such a Participant’s Account after such time; or (d) the Participant’s Disability; provided, however, that a transfer from Recognized Employment to employment with the Employer that is other than Recognized Employment or a transfer from the employment of one Employer participating in the Plan to another such Employer or to any Affiliate shall not constitute an Event of Maturity.

Appears in 1 contract

Samples: Employee Stock Ownership Plan Trust Agreement (People's Utah Bancorp)

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Events of Maturity. A Participant’s 's Total Account shall mature and the Vested portion shall become distributable in accordance with Section 7 upon the earliest occurrence of any of the following events while in the employment of the Employer or an Affiliate: (a) the Participant’s 's death; (b) the Participant’s 's termination of employment, whether voluntary or involuntary; (c) the attainment of age seventy and one‑half one-half (70‑1/270-1/2) years by a Participant who is a five percent (5%) owner (as defined in Appendix B) at any time during the year in which the Participant attained age seventy and one‑half one-half (70‑1/270-1/2) years and the crediting of any amounts to such a Participant’s 's Account after such time; or (d) the Participant’s 's Disability; provided, however, that a transfer from Recognized Employment to employment with the Employer that is other than Recognized Employment or a transfer from the employment of one Employer participating in the Plan to another such Employer or to any Affiliate shall not constitute an Event of Maturity.

Appears in 1 contract

Samples: Pension Plan Trust Agreement (Entegris Inc)

Events of Maturity. A Participant’s 's Account shall mature and the Vested portion shall become distributable in accordance with Section 7 upon the earliest occurrence of any of the following events while in the employment of the Employer or an Affiliate: (a) the Participant’s 's death;, (b) the Participant’s termination of employment's separation from service, whether voluntary or involuntary;, (c) the Participant's attainment of age seventy and one‑half one-half (70‑1/270-1/2) years by a Participant who is a five percent years, (5%d) owner (as defined in Appendix B) at any time during the year in which the Participant attained age seventy and one‑half (70‑1/2) years and the crediting of any amounts to such a the Participant’s 's Account after such time; the Participant's attainment of age seventy and one-half (70-1/2) years, (e) the Participant's Disability, or (df) termination of the Plan or a partial termination of the Plan effective as to the Participant’s Disability; provided, however, that a transfer from Recognized Employment to employment with the Employer that is other than Recognized Employment or a transfer from the employment of one Employer participating in the Plan to another such Employer or to any Affiliate shall not constitute an Event of Maturity.

Appears in 1 contract

Samples: Employee Stock Ownership Plan Trust Agreement (Entegris Inc)

Events of Maturity. A Participant’s 's Account shall mature and the Vested portion shall become distributable in accordance with Section 7 upon the earliest occurrence of any of the following events while in the employment of the Employer or an Affiliate: (a) the Participant’s 's death; (b) the Participant’s 's termination of employment, whether voluntary or involuntary; (c) the attainment of age seventy and one‑half one-half (70‑1/270-1/2) years by a Participant who is a five percent (5%) owner (as defined in Appendix B) at any time during the year in which the Participant attained age seventy and one‑half one-half (70‑1/270-1/2) years and the crediting of any amounts to such a Participant’s 's Account after such time; or (d) the Participant’s 's Disability; provided, however, that a transfer from Recognized Employment to employment with the Employer that is other than Recognized Employment or a transfer from the employment of one Employer participating in the Plan to another such Employer or to any Affiliate shall not constitute an Event of Maturity.

Appears in 1 contract

Samples: Employee Stock Ownership Plan Trust Agreement (Entegris Inc)

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Events of Maturity. A Participant’s 's Total Account shall mature and the Vested portion shall become distributable in accordance with Section 7 upon the earliest occurrence of any of the following events while in the employment of the Employer or an Affiliate: (a) the Participant’s 's death;, (b) the Participant’s termination of employment's separation from service, whether voluntary or involuntary;, (c) the Participant's attainment of age seventy and one‑half one-half (70‑1/270-1/2) years by a Participant who is a five percent years, (5%d) owner (as defined in Appendix B) at any time during the year in which the Participant attained age seventy and one‑half (70‑1/2) years and the crediting of any amounts to such a the Participant’s 's Account after such time; the Participant's attainment of age seventy and one-half (70-1/2) years, (e) the Participant's Disability, or (df) termination of the Plan or a partial termination of the Plan effective as to the Participant’s Disability; provided, however, that a transfer from Recognized Employment to employment with the Employer that is other than Recognized Employment or a transfer from the employment of one Employer participating in the Plan to another such Employer or to any Affiliate shall not constitute an Event of Maturity.

Appears in 1 contract

Samples: Pension Plan Trust Agreement (Entegris Inc)

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