Common use of Normal And Optional Forms Of Payment Clause in Contracts

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (b) A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option remains available. The remaining lump sum must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment. Each optional form of benefit provided under a Prototype Plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. (c) For money purchase and target benefit plans, the normal form of payment hereunder shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the Employer may elect in the Adoption Agreement to eliminate any periodic payment options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (d) The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (e) As elected in the Adoption Agreement, a Participant shall (with the consent of his or her Spouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint and survivor life expectancy of the Participant and his or her Beneficiary. (f) Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. The Employer may also elect on the Adoption Agreement to limit a Participant’s right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. (g) A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions to the investments listed in the Adoption Agreement and only to the extent the investments are held in the Participant’s account at the time of the distribution. A Plan may be amended to limit the investments that may be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s account at the time the amendment was adopted or effective, if later. (h) Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s loan policy document. (i) Distribution of benefits payable in the form of installments shall be paid in cash. (j) The Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will be final. Upon such determination, the Plan Administrator shall direct the Trustee and/or Custodian in writing or by any such other means as expressly agreed upon, to make such a distribution.

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan satisfying the requirements of paragraph 8.7 herein shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (b) A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option options remains available, that is an otherwise identical distribution form to the eliminated or restricted option, except with respect to the timing of payments after commencement. The remaining lump sum form must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment, and any such amendment will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. Each optional form of benefit provided under a Prototype Plan standardized or non-standardized safe-harbor plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. (c) For money purchase and target benefit plans, the normal form of payment hereunder shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the Employer may elect in the Adoption Agreement to eliminate any periodic payment options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (d) The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (e) As elected in the Adoption Agreement, a A Participant whose Vested Account Balance exceeds $5,000 shall (with the consent of his or her Spousespouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint Joint and survivor Survivor life expectancy of the Participant and his or her Beneficiary. (f) Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. . (g) The Employer may also elect on the Adoption Agreement to limit a Participant’s 's right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. Any such amendment to the Plan will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. (gh) A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions to the investments listed in the Adoption Agreement and only to the extent the investments are held in the Participant’s 's account at the time of the distribution. A Plan may be amended to limit the investments that may which will be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s 's account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s 's account at the time the amendment was adopted or effective, if later. Any such amendment will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. (hi) Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s 's loan policy document. (ij) Distribution of benefits payable in the form of installments shall be paid in cash. (jk) The Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will shall be finaldetermined by the Plan Administrator. Upon such determination, the Plan Administrator shall direct the Trustee and/or or Custodian in writing or by any such other means as expressly agreed upon, to make such a distribution.

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan satisfying the requirements of paragraph 8.7 herein shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (ba) A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option options remains available, that is an otherwise identical distribution form to the eliminated or restricted option, except with respect to the timing of payments after commencement. The remaining lump sum form must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment, and any such amendment will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. Each optional form of benefit provided under a Prototype Plan standardized or non-standardized safe-harbor plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. (cb) For money purchase and target benefit plans, the normal form of payment hereunder shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the Employer may elect in the Adoption Agreement to eliminate any periodic payment 48 options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (dc) The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (ed) As elected in the Adoption Agreement, a A Participant whose Vested Account Balance exceeds $5,000 shall (with the consent of his or her Spousespouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint Joint and survivor Survivor life expectancy of the Participant and his or her Beneficiary. (fe) Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. . (f) The Employer may also elect on the Adoption Agreement to limit a Participant’s 's right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. (g) A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions . Any such amendment to the investments listed in Plan will not be effective until the Adoption Agreement and only to earlier of ninety (90) days after the extent date that Plan Participants are provided with the investments are held in the Participant’s account at the time written notice of the distribution. A Plan may be amended to limit the investments that may be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s account at the time the amendment was adopted or effective, if later. (h) Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s loan policy document. (i) Distribution of benefits payable in the form of installments shall be paid in cash. a summary of material modification (jSMM) The or the first day of the second Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will be final. Upon such determination, Year after the Plan Administrator shall direct Year in which the Trustee and/or Custodian in writing or by any such other means as expressly agreed upon, to make such a distributionamendment is adopted.

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan satisfying the requirements of paragraph 8.7 herein shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (b) A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option options remains available, that is an otherwise identical distribution form to the eliminated or restricted option, except with respect to the timing of payments after commencement. The remaining lump sum form must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment, and any such amendment will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. Each optional form of benefit provided under a Prototype Plan standardized or non-standardized safe-harbor plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. (c) For money purchase and target benefit plans, the normal form of payment hereunder shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the Employer may elect in the Adoption Agreement to eliminate any periodic payment options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (d) The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (e) As elected in the Adoption Agreement, a A Participant whose Vested Account Balance exceeds $5,000 shall (with the consent of his or her Spousespouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint Joint and survivor Survivor life expectancy of the Participant and his or her Beneficiary. (f) Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. . (g) The Employer may also elect on the Adoption Agreement to limit a Participant’s right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. Any such amendment to the Plan will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. (gh) A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions to the investments listed in the Adoption Agreement and only to the extent the investments are held in the Participant’s account at the time of the distribution. A Plan may be amended to limit the investments that may which will be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s account at the time the amendment was adopted or effective, if later. Any such amendment will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. (hi) Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s loan policy document. (ij) Distribution of benefits payable in the form of installments shall be paid in cash. (jk) The Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will shall be finaldetermined by the Plan Administrator. Upon such determination, the Plan Administrator shall direct the Trustee and/or or Custodian in writing or by any such other means as expressly agreed upon, to make such a distribution.

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan satisfying the requirements of paragraph 8.7 herein shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (b) . A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option options remains available, that is an otherwise identical distribution form to the eliminated or restricted option, except with respect to the timing of payments after commencement. The remaining lump sum form must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment, and any such amendment will not be effective until the earlier of ninety (90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. Each optional form of benefit provided under a Prototype Plan standardized or non-standardized safe-harbor plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. (c) . For money purchase and target benefit plans, the normal form of payment hereunder shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the Employer may elect in the Adoption Agreement to eliminate any periodic payment options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (d) . The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (e) As elected in the Adoption Agreement, a . A Participant whose Vested Account Balance exceeds $5,000 shall (with the consent of his or her Spousespouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint Joint and survivor Survivor life expectancy of the Participant and his or her Beneficiary. (f) . Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. The Employer may also elect on the Adoption Agreement to limit a Participant’s right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. . Any such amendment to the Plan will not be effective until the earlier of ninety (g90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions to the investments listed in the Adoption Agreement and only to the extent the investments are held in the Participant’s account at the time of the distribution. A Plan may be amended to limit the investments that may which will be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s account at the time the amendment was adopted or effective, if later. . Any such amendment will not be effective until the earlier of ninety (h90) days after the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM) or the first day of the second Plan Year after the Plan Year in which the amendment is adopted. Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s loan policy document. (i) . Distribution of benefits payable in the form of installments shall be paid in cash. (j) . The Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will shall be finaldetermined by the Plan Administrator. Upon such determination, the Plan Administrator shall direct the Trustee and/or or Custodian in writing or by any such other means as expressly agreed upon, to make such a distribution.

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (b) A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option remains available. The remaining lump sum must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment, and any such amendment will not be effective until the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM). Each optional form of benefit provided under a Prototype Plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. (c) For money purchase and target benefit plans, the normal form of payment hereunder shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the Employer may elect in the Adoption Agreement to eliminate any periodic payment options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (d) The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (e) As elected in the Adoption Agreement, a Participant shall (with the consent of his or her Spouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint and survivor life expectancy of the Participant and his or her Beneficiary. (f) Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. The Employer may also elect on the Adoption Agreement to limit a Participant’s right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. Any such amendment to the Plan will not be effective until the date that Plan Participants are provided with the written notice of the Plan amendment in the form of a summary of material modification (SMM). (g) A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions to the investments listed in the Adoption Agreement and only to the extent the investments are held in the Participant’s account at the time of the distribution. A Plan may be amended to limit the investments that may be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s account at the time the amendment was adopted or effective, if later. (h) Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s loan policy document. (i) Distribution of benefits payable in the form of installments shall be paid in cash. (j) The Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will be final. Upon such determination, the Plan Administrator shall direct the Trustee and/or Custodian in writing or by any such other means as expressly agreed upon, to make such a distribution.

Normal And Optional Forms Of Payment. (a) The normal form of payment for a profit sharing, 401(k) or SIMPLE 401(k) plan shall be designated in the Adoption Agreement. If no election is made in the Adoption Agreement, the Plan will default to the normal form of benefit being a lump sum, and the safe harbor provisions of paragraph 8.7 shall apply. (b) A Plan other than a money purchase pension plan, a target benefit plan or a profit-sharing plan required to provide a Joint and Survivor benefit may be amended to eliminate or restrict optional payment forms provided that a single lump sum payment option remains available. The remaining lump sum must have the same (or less restrictive) timing of distribution, medium of distribution and eligibility conditions that were available for the eliminated forms of payment. Each optional form of benefit provided under a Prototype Plan (other than any that have been prospectively eliminated) must be currently available to all Employees benefiting under the Plan. This is the case regardless of whether a particular form of benefit is the actuarial equivalent of any other optional form of benefit under the Plan. Code Section 411(d)(6) prevents a Plan from being amended to eliminate or restrict optional forms of benefits and any other Code Section 411(d)(6) protected benefits with respect to benefits attributable to Service before the amendments except as expressly provided under the Regulations Section 1.411(d)-4. The availability of each optional form of benefit shall not be subject to Employer discretion nor shall optional forms of benefits be made available in a manner that favors Highly Compensated Employees. (c) For money purchase and target benefit plans, the The normal form of payment hereunder for a money purchase pension plan shall be a Qualified Joint and Survivor Annuity as provided under Article VIII. Effective January 1, 2002, the The Employer may elect in the Adoption Agreement to eliminate any periodic payment options that are not required by the Qualified Joint and Survivor Annuity rules such as but not limited to installment payments. (d) The normal form of payment shall be automatic, unless the Participant files a written request with the Employer prior to the date on which the benefit is automatically payable, electing another option available under the Plan. (e) As elected in the Adoption Agreement, a Participant shall (with the consent of his or her Spouse, if applicable) have the right to receive his or her benefit in a single lump sum or in installment payments. Installment payments need not be equal or substantially equal until such time as the individual reaches his or her Required Beginning Date. Installment payments which are intended to be equal or substantially equal can be made monthly, quarterly, semi-annually or annually based on any period not extending beyond the joint and survivor life expectancy of the Participant and his or her Beneficiary. (f) Benefits payable under the Plan may be distributed in cash or in-kind as elected in the Adoption Agreement. The Employer may also elect on the Adoption Agreement to limit a Participant’s right to receive distributions in the form of marketable securities (other than Employer securities) and to require distributions in the form of cash only. Only the right to receive a distribution in the form of cash, Employer securities and/or other property that is not marketable is protected. (g) A Plan that permits its Participants to receive in-kind distributions may limit the available in-kind distributions to the investments listed in the Adoption Agreement and only to the extent the investments are held in the Participant’s account at the time of the distribution. A Plan may be amended to limit the investments that may be distributed in-kind. The amendment must include all investments (other than marketable securities for which cash may be substituted) that are held in a Participant’s account at the time of the amendment and for which the Plan, prior to such amendment, allowed for distribution of those investments in kind. The right to an in-kind distribution for investments held at the time of the distribution would only have to be protected to the extent such investment was in the Participant’s account at the time the amendment was adopted or effective, if later. (h) Promissory notes of Participants may be distributed in-kind pursuant to the Employer’s loan policy document. (i) Distribution of benefits payable in the form of installments shall be paid in cash. If this is an amendment or restatement of an existing Plan where the Plan only permits distribution in a lump sum, Required Minimum Distributions taken by Participants may be made in installments payments to any affected Participant. (j) The Plan Administrator shall have the sole responsibility to determine the propriety, amount, and form of any distribution made under the terms of this Plan and such determination will be final. Upon such determination, the Plan Administrator shall direct inform the Trustee and/or Custodian in writing or by any such other means as expressly agreed upon, to make such a distributionof its determination.