General Forms of Payment Sample Clauses

General Forms of Payment. If a Participant's termination of employment is before reaching a retirement date defined in Section 2(A) of this Article and the Participant does not elect to defer payment until the Participant attains age 55, the Participant may elect that his Account balance be distributed in two parts as a percent or in a dollar amount between:

General Forms of Payment. Upon a Participant's retirement, death, or if the Participant has terminated employment attained age 55, the value of the Participant's Accounts to be distributed shall be paid in a single lump sum or transferred (except the portion of the Participant's Account representing Employee After-Tax Contributions which are paid to the Participant in the form of a single lump sum) to the Belden Wire & Cable Company Pension Plan payable in accordance with the terms of that plan. An exception to the above rule occurs for Participants employed at the Clinton, Arkansas and Carmel, Indiana facilities. For those Participants who continue employment with the purchasing company and whose Account balance is at least $5,000, they may chose to receive a lump sum of their Account balance until December 31, 2001. If they chose to leave their Account balance in the Plan, they will only be able to receive a distribution after their employment terminates with the purchasing company. If the Participant terminates employment with the purchasing company, they will be treated as provided as in this Article XIV. For Participants who continue employment with the purchasing company and whose Account balance is under $5,000, they will receive a single lump sum as defined in Section 5(C) of this Article. If a Participant's termination of employment is before reaching a retirement date defined in Section 2(A) of this Article and the Participant does not elect to defer payment until the Participant attains age 55, the value of the Participant's Accounts to be distributed shall be paid in a single lump sum.