Participant Deferral and Employer Credits. In-service distributions may be made in the following manner: ☒ Single lump sum payment. ☒ Annual installments over a term certain not to exceed 5 years. If applicable, amounts not vested at the time in-service payments are distributed will be distributed at Separation from Service if vested at that time. ☐ (b) No In-Service Distributions permitted.
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Samples: Nonqualified Deferred Compensation Plan Adoption Agreement (Mercantile Bank Corp), Nonqualified Deferred Compensation Plan Adoption Agreement (Horizon Bancorp Inc /In/), Adoption Agreement (Five Below, Inc)
Participant Deferral and Employer Credits. In-service distributions may be made in the following manner: ☒ Single lump sum payment. ☒ Annual installments over a term certain not to exceed 5 10 years. If applicable, amounts not vested at the time in-service payments are distributed will be distributed at Separation from Service if vested at that time. ☐ (b) No In-Service Distributions permitted.
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Samples: Nonqualified Deferred Compensation Plan Adoption Agreement (Usana Health Sciences Inc)
Participant Deferral and Employer Credits. In-service distributions may be made in the following manner: ☒ ☒Single lump sum payment. ☒ ☒Annual installments over a term certain not to exceed 5 years. If applicable, amounts not vested at the time in-service payments are distributed will be distributed at Separation from Service if vested at that time. ☐ (b) No b)No In-Service Distributions permitted.
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Samples: Nonqualified Deferred Compensation Plan Adoption Agreement (Penske Automotive Group, Inc.)
Participant Deferral and Employer Credits. In-service distributions may be made in the following manner: ☒ Single lump sum payment. ☒ Annual installments over a term certain not to exceed 5 years. If applicable, amounts not vested at the time in-service payments are distributed will be distributed at Separation from Service if vested at that time. ☐ (b) No In-Service Distributions permitted.
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Participant Deferral and Employer Credits. In-service distributions may be made in the following manner: ☒ ☐ Single lump sum payment. ☒ ☐ Annual installments over a term certain not to exceed 5 years. If applicable, amounts not vested at the time in-service payments are distributed will be distributed at Separation from Service if vested at that time. ☐ ☒ (b) No In-Service Distributions permitted.
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