Common use of Form of Distribution Clause in Contracts

Form of Distribution. (i) Subject to Section 15(l) of the Plan, in the event of distribution of the Participant’s Company Contribution Account due to the Participant’s attainment of age 65 or the Participant’s Separation from Service other than due to the Participant’s Disability or death, such distribution shall be paid in 24 equal monthly installments; provided, however, that if such Separation from Service occurs within 24 months following a Change in Control, such distribution shall be in a lump sum.

Appears in 2 contracts

Samples: Participation Agreement (Heritage Financial Corp /Wa/), Participation Agreement (Heritage Financial Corp /Wa/)

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Form of Distribution. (i) Subject to Section 15(l) of the Plan, in the event of distribution of the Participant’s Company Contribution Account due to the Participant’s attainment of age 65 or the Participant’s Separation from Service other than due to the Participant’s Disability or death, such distribution shall be paid in 24 equal monthly installments; provided, however, that if such Separation from Service occurs within 24 months following a Change in Control, such distribution shall be in a lump sum. In the event of distribution of the Participant’s Company Contribution Account due to the Participant’s Disability or death, such distribution shall be in a lump sum.

Appears in 2 contracts

Samples: Participation Agreement (Heritage Financial Corp /Wa/), Participation Agreement (Heritage Financial Corp /Wa/)

Form of Distribution. (i) Subject to Section 15(l) of the Plan, in the event of distribution of the Participant’s Company Contribution Account due to the Participant’s attainment of age 65 or the Participant’s Separation from Service other than due to the Participant’s Disability or death, such distribution shall be paid in 24 [24/60] equal monthly installments; provided, however, that if such Separation from Service occurs within 24 months following a Change in Control, such distribution shall be in a lump sum.

Appears in 1 contract

Samples: Participation Agreement (Heritage Financial Corp /Wa/)

Form of Distribution. (i) Subject to Section 15(l) of the Plan, in the event of distribution of the Participant’s Company Contribution Account due to the Participant’s attainment of age 65 or the Participant’s Separation from Service other than due to the Participant’s Disability or death, such distribution shall be paid in [_] 24 or [_] 60 equal monthly installmentsinstallments (Select one) per the selection below; provided, however, that if such Separation from Service occurs within 24 months following a Change in Control, such distribution shall be in a lump sum.

Appears in 1 contract

Samples: Participation Agreement (Heritage Financial Corp /Wa/)

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Form of Distribution. (i) Subject to Section 15(l14(l) of the Plan, in the event of distribution of the Participant’s Company Contribution Account due to the Participant’s attainment of age 65 or the Participant’s Separation from Service other than due to the Participant’s Disability or death, such distribution shall be paid in 24 equal monthly installments; provided, however, that if such Separation from Service occurs within 24 months following a Change in Control, such distribution shall be in a lump sum.

Appears in 1 contract

Samples: Participation Agreement (Heritage Financial Corp /Wa/)

Form of Distribution. (i) Subject to Section 15(l) of the Plan, in the event of distribution of the Participant’s Company Contribution Account due to the Participant’s attainment of age 65 67 or the Participant’s Separation from Service other than due to the Participant’s Disability or death, such distribution shall be paid in 24 equal monthly installments; provided, however, that if such Separation from Service occurs within 24 months following a Change in Control, such distribution shall be in a lump sum.

Appears in 1 contract

Samples: Participation Agreement (Heritage Financial Corp /Wa/)

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