Common use of Payments to Current Participants Clause in Contracts

Payments to Current Participants. Current Participants will not be required to submit a Former Participant Claim Form to receive a settlement payment. 6.4.1 Within two (2) business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide notice to Miami and send to the Plans’ recordkeepers an Excel spreadsheet in a form requested by the Plans’ recordkeepers containing the name and the amount of the settlement payment to be made for each Current Participant, along with other identifying information as requested by the recordkeepers. 6.4.2 Within ten (10) business days after the Settlement Administrator provides the Current Participant information detailed in Paragraph 6.4.1 to the Plans’ recordkeepers, such recordkeepers will provide the Settlement Administrator a list of which Current Participants (if any) is a Zero Account Balance Current Participant. 6.4.3 Thereafter, within twenty (20) business days after written notice to Miami (or its designee) as provided in Paragraph 6.4.1, the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to the Plans’ recordkeepers of the aggregate amount of all settlement payments payable to Current Participants, as reflected in the spreadsheets provided by the Settlement Administrator, less the amount of all settlement payments payable to Zero Account Balance Current Participants. 6.4.4 Miami (or its designee) shall direct the Plans’ recordkeepers to credit the individual Active Account(s) of each Current Participant who is not a Zero Account Balance Current Participant in an amount equal to that stated on the spreadsheets provided by the Settlement Administrator in relation to such Current Participant. 6.4.5 The Settlement payment for each Current Participant who is not a Zero Account Balance Current Participant will be invested initially in the Plan’s “Qualified Default Investment Alternative” as defined in 29 C.F.R. § 2550.404c-5. Thereafter, the Current Participant may redirect the investment among any other investment options available in the relevant Plan or Plans.

Payments to Current Participants. Current Participants will not be required to submit a Former Participant Claim Form to receive a settlement payment. 6.4.1 Within two (2) business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide notice to Miami the Defendants and send to each of the Plans’ recordkeepers an Excel spreadsheet in a form requested by the Plans’ recordkeepers containing the name name, Social Security number, and the amount of the settlement payment to be made by that recordkeeper into the Active Account(s) for each Current Participant, along with other identifying information as requested by the recordkeepers. 6.4.2 Within ten five (105) business days after the Settlement Administrator provides the Current Participant information detailed in Paragraph 6.4.1 to each of the Plans’ recordkeepers, such the recordkeepers will provide the Settlement Administrator a list of which Current Participants (if any) is a Zero Account Balance Current Participant.Settlement 6.4.3 Thereafter, within twenty ten (2010) business days after days’ written notice to Miami Defendants (or its their designee) as provided in Paragraph 6.4.1, the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to each of the Plans’ recordkeepers of the aggregate amount of all settlement payments payable to Current ParticipantsParticipants with that recordkeeper, as reflected in the spreadsheets provided by the Settlement Administrator, less the amount of all settlement payments payable to Zero Account Balance Current Participants. 6.4.4 Miami Defendants (or its their designee) shall direct the Plans’ recordkeepers to credit the individual Active Account(s) of each Current Participant who is not a Zero Account Balance Current Participant in an amount equal to that stated on the spreadsheets provided by the Settlement Administrator in relation to such Current Participant. 6.4.5 The Settlement settlement payment for each Current Participant who is not a Zero Account Balance Current Participant with each recordkeeper will be invested initially in accordance with and proportionate to such Current Participant’s investment elections then on file for new contributions with that recordkeeper. If there is no investment election for new contributions on file for any Current Participant who is not a Zero Account Balance Current Participant with a recordkeeper, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative” as defined in 29 C.F.R. § 2550.404c-5. Thereafter, the . 6.4.6 The Plans’ recordkeepers shall process all transactions for Current Participant may redirect the investment among Participants who are not Zero Account Balance Current Participants within thirty (30) calendar days of receiving direction from Defendants (or their designee) for any other investment options available in the relevant Plan or Planssuch Current Participant.

Payments to Current Participants. Current Participants will not be required to submit a Former Participant Claim Form to receive a settlement payment. The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within thirty (30) business days after the Settlement Effective Date. 6.4.1 6.5.1 Within two (2) business days after the Settlement Administrator has completed all payment calculations for all Current Participants, the Settlement Administrator will provide notice to Miami and send to the Plans’ recordkeepers Philips (or its designee) with an Excel spreadsheet in a form requested by the Plans’ recordkeepers containing the name name, Social Security number or other unique identifier, and the amount of the settlement payment to be made into the Active Account(s) for each of the Current Participant, along with other identifying information as requested by the recordkeepersParticipants. 6.4.2 Within 6.5.2 Thereafter, within ten (10) business days after the Settlement Administrator provides the Current Participant information detailed in Paragraph 6.4.1 to the Plansdays’ recordkeepers, such recordkeepers will provide the Settlement Administrator a list of which Current Participants (if any) is a Zero Account Balance Current Participant. 6.4.3 Thereafter, within twenty (20) business days after written notice to Miami Philips (or its designee) as provided in Paragraph 6.4.1), the Settlement Administrator shall effect a transfer from the Qualified Settlement Fund to the Plans’ recordkeepers Plan’s trustee of the aggregate amount of all settlement payments payable to Current Participants, as reflected in the spreadsheets spreadsheet provided by the Settlement Administrator, less the amount of all settlement payments payable to Zero Account Balance Current Participants. 6.4.4 Miami . Philips (or its designee) shall direct the Plans’ recordkeepers Plan’s trustee to credit the individual Active Account(s) of each Current Participant who is not a Zero Account Balance Current Participant in an amount equal to that stated on the spreadsheets spreadsheet provided by the Settlement Administrator in relation to such Current Participant. 6.4.5 6.5.3 The Settlement settlement payment for each Current Participant who is not a Zero Account Balance Current Participant will be invested initially in accordance with and proportionate to such Current Participant’s investment elections then on file. If there is no investment election on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5. Thereafter, the . 6.5.4 The Plan’s recordkeeper shall process all Current Participant may redirect the investment among transactions within thirty (30) calendar days of receiving direction from Philips (or its designee) for any other investment options available in the relevant Plan or PlansCurrent Participant.