Methods of Distribution. 6.1.1 If the Plan is a money purchase pension plan or a target benefit plan, a Participant's benefit shall be payable in the normal form of a Qualified Joint and Survivor Annuity if the Participant is married on his or her Benefit Commencement Date and in the normal form of an immediate annuity for the life of the Participant if the Participant is not married on that date. A Participant who terminated Employment on or after satisfying the requirements for Early Retirement may elect to have his or her Qualified Joint and Survivor Annuity distributed upon attainment of such Early Retirement. If the Plan is a profit-sharing plan that satisfies the requirements set forth in Section 6.1.2, a Participant's Accounts shall only be payable in the normal form of a lump-sum distribution in accordance with Section 6.1.1
Methods of Distribution. To make payments to or for the benefit of any beneficiary (specifically including any beneficiary under any legal disability) in any of the following ways: (a) directly to the beneficiary, (b) directly for the maintenance, welfare and education of the beneficiary, (c) to the legal or natural guardian of the beneficiary, or, (d) to anyone who at the time shall have custody and care of the person of the beneficiary. Trustee shall not be obliged to see to the application of the funds so paid, but the receipt of the person to whom the funds were paid shall be full acquittance of Trustee.
Methods of Distribution. The Registrable Securities may be sold or distributed under the Shelf Registration Statement directly by the Holders as principal or through one or more brokers, dealers or agents from time to time in one or more transactions, including, without limitation, (i) on any securities exchange (or quotation system operated by a national securities association) on which the Registrable Securities are then listed, (ii) in private transactions, (iii) in block trades, or (iv) though the writing of options (whether such options are listed on an exchange or otherwise) on, or settlement of short sales of, the Registrable Securities in compliance with applicable law. The Holders may not sell or distribute the Registrable Securities under the Shelf Registration Statement in an Underwritten Offering except as provided in Section 3 hereof. Nothing in this Agreement shall in any way restrict any Holder from selling or otherwise transferring the risk or benefit of ownership of securities of the Company in any manner not provided in this Agreement in accordance with the Securities Act and other applicable law.
Methods of Distribution. (a) The value of the Custodial Account may be distributed in one of the following ways:
(1) A single sum payment, in cash and/or in kind, consisting of the entire balance in the Custodial Account; or a single sum payment, in cash and/or in kind, consisting of part of the balance in the Custodial Account with the remainder distributed pursuant to sub-paragraph (b) or (c);
(2) In installments, in cash and/or in kind, over a period of years not to exceed the life expectancy of the Employee or the joint life and last survivor expectancy of the Employee and his beneficiary. The installment payments shall be made in approximately equal amounts or approximately equal fractions of the Employee's Custodial Account and may be paid in monthly or other regular increments as elected by the Employee and as agreed to by the Custodian.
(3) By the purchase and distribution of an annuity contract, utilizing all available assets of the Custodial Account, from an insurance company designated by the Employee, with either fixed or variable annuity payments for the life of the Employee or, if the Employee so elects, for the lives of the Employee and his beneficiary. Such policy may provide for installment payments over a period measured by the life expectancy of the Employee or the joint life expectancy of the Employee and his beneficiary and the survivor, or over a shorter period. If the Employee elects the method of distribution described in (3) above, the annuity contract must satisfy the requirements of Section 401(a)(9) of the Code. If the Employee elects the method of distribution described in (2), the annual payment required to be made by the Employee's Required Distribution Date is for the calendar year the Employee reached age 70 1/2. Annual payments for subsequent years, including the year the Employee's Required Distribution Date occurs, must be made by December 31 of that year.
(4) In the case of an Eligible Rollover Distribution, by a Direct Rollover to an Eligible Retirement Plan, an Eligible Rollover Distribution is any distribution of all or any portion of the balance to the credit of the Employee, except that an Eligible Rollover Distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Employee or the joint lives (or life expectancies) of the Employee and the Employee's designated beneficiary, or for a specified period of ten ...
Methods of Distribution. Subject to Sections 6.6(c), and 6.9, after each Participant’s distribution date and after all adjustments to the accounts required as of such date shall have been made, the Trustee shall distribute the amount to which the Participant or Beneficiary is entitled by one of the following optional methods, as determined by the Participant or Beneficiary:
(a) a complete or partial distribution to the Participant or Beneficiary;
(b) an installment distribution consisting of approximately equal installments for a term not extending beyond the joint Life Expectancy on the distribution date of the Participant and any individual designated by such Participant; provided, that the Life Expectancy of the Participant or the Participant’s spouse, or the joint life expectancy of both the Participant and the Participant’s spouse, may be recalculated annually using the Participant’s attained age on the Participant’s birthday in the calendar years subsequent to the calendar year of the initial distribution date and the Participant’s spouse’s attained age in such subsequent calendar years;
(c) in substantially equal annual installments over a period not greater than five (5) years or, if a Participant’s Vested Account Balance is in excess of $500,000, five (5) years plus one year for each $100,000 or fraction thereof by which the Participant’s Vested Account Balance exceeds $500,000 but not to exceed ten (10) years; or
(d) effective January 1, 1993, a distribution which qualifies as an “eligible rollover distribution” trade as a direct transfer to the trustee or custodian of an “eligible retirement plan.” For purposes of subsection (d) above, an eligible rollover distribution means a complete or partial distribution from the Plan to a Participant, the Participant’s surviving spouse or the Participant’s former spouse who is an alternate payee pursuant to Section 13.6 or other Beneficiary, but excluding (i) a mandatory minimum distribution required under Section 6.9; (ii) a distribution made in accordance with (b) which is for a specified period of ten (10) years or more, or (iii) a distribution which is excludible from gross income. A portion of a distribution shall not fail to be an Eligible Rollover Distribution merely because the portion consists of After-Tax Employee Contributions which are not includible in gross income. However, such portion may be transferred only to an individual retirement account or annuity described in Section 408(a) or (b) of the Code, or to a quali...
Methods of Distribution. Subject to the provisions of subsection (b), the Plan Administration Committee after consultation with the Participant, (or his or Beneficiary in the event of the Participant’s death, or his or her legal representative in the event of the Participant’s Disability), shall direct the Trustee to distribute all or a portion of his or her Nonforfeitable Accrued Benefit to the recipient thereof under one of the following methods:
(1) By payment in a lump sum.
(2) By payment in monthly, quarterly or annual installments over a fixed reasonable period of time, not exceeding the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and the Participant’s designated Beneficiary.
(3) A straight life annuity, payable no less frequently than annually, with payment of the Participant’s Nonforfeitable Accrued Benefit ending on the Participant’s death.
(4) A life annuity, payable no less frequently than annually, with a term certain guaranteed. The term certain cannot exceed the Participant’s life expectancy, or the joint life and last survivor expectancy of the Participant and his or her designated Beneficiary. If a Participant dies before the Trustee has made the guaranteed number of payments, the Plan Administration Committee shall direct the Trustee to continue the balance of the payments to the Participant’s designated Beneficiary.
(5) Any other form of payment of the Participant’s Nonforfeitable Accrued Benefit which the Plan Administration Committee may approve. However, such form of payment cannot extend beyond the Participant’s life, the life of the Participant and his or her designated Beneficiary, the Participant’s life expectancy or the joint life and last survivor expectancy of the Participant and his or her designated Beneficiary.
Methods of Distribution. 22 Section 8.2. Medium of Payment.........................................
Methods of Distribution. Assets may be distributed from your Account according to one or both of the following methods selected by you:
Methods of Distribution. Due to the significance of transportation costs and the importance of timely delivery, glass container manufacturing facilities are generally located close to customers. In the U.S., most of the Company's glass container products are shipped by common carrier to customers within a 250-mile radius of a given production site. In addition, the Company's glass container operations outside the U.S. export some products to customers beyond their national boundaries, which may include transportation by rail and ocean delivery in combination with common carriers. The Company also operates several machine and mold shops that manufacture high-productivity glass-forming machines, molds and related equipment. SUPPLIERS AND RAW MATERIALS The primary raw materials used in the Company's glass container operations are sand, soda ash and limestone. Each of these materials, as well as the other raw materials used to manufacture glass containers, have historically been available in adequate supply from multiple sources. For certain raw materials, however, there may be temporary shortages due to weather or other factors, including disruptions in supply caused by raw material transportation or production delays. GLASS RECYCLING The Company is an important contributor to the recycling effort in the U.S. and continues to melt substantial recycled glass tonnage in its glass furnaces. If sufficient high-quality recycled glass were available on a consistent basis, the Company has the technology to operate using 100% recycled glass. Using recycled glass in the manufacturing process reduces energy costs and prolongs the operating life of the glass melting furnaces. PLASTICS PACKAGING PRODUCT SEGMENT The Company is a leading manufacturer in North America of plastic containers, plastic closures and plastic prescription containers. The Company also has plastics packaging operations in South America, Europe, Australia and New Zealand. Plastics packaging sales represented 34% and 32% of the Company's consolidated net sales for the years ended December 31, 2001 and 2000, respectively. MANUFACTURING AND PRODUCTS The plastics packaging business utilizes two basic manufacturing processes: BLOW-MOLDED PLASTICS PACKAGING Blow-molding is a plastics manufacturing process where pre-heated plastic is captured inside a hollow mold and using pressurized air is blown, much like a balloon, into a container. After being cooled, the mold is opened and the plastic product is removed. In blow-molded plasti...
Methods of Distribution. Plan benefits will be paid in a lump sum of the entire amount then credited to the Participant's Deferral Account, unless the Participant's termination is a result of retirement on or after the date the Participant attains the age of 65 ("Normal Retirement") or upon the Participant reaching age 55 with ten years or more of service with the Company ("Early Retirement"). In the case of Early or Normal Retirement, Plan benefits will be paid in a lump sum, or in substantially equal annual payments over a period not greater than 10 years beginning on the anniversary of the Participant's retirement, as elected by the Participant. If benefits are to be paid annually, Interest will continue to be credited on the unpaid balance of the Participant's Deferral Account at the rate specified in Section 2.4, or at such lesser rate as may be specified by the Compensation Committee in its sole discretion at any time prior to the Participant's retirement.
