Common use of Restrictions On Immediate Distributions Clause in Contracts

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance shall not include amounts attributable to Qualified Voluntary Contributions.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or if not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributions. (e) If a distribution is one to which Code Section 401(a)(11) and 417 do not apply, such distribution may commence less than 30 days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that: (1) the Plan Administrator clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and (2) the Participant, after receiving the notice, affirmatively elects a distribution.

Restrictions On Immediate Distributions. 46 (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or if not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributablelater of the date on which the Participant attains (or would have attained if not deceased) the Normal Retirement Age or age 62. Such notification shall include a general description of the material features, and an explanation of the relative values of, of the optional forms of benefit available under the plan plan, in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan Plan, if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributions.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse the Participant's spouse (or where either the Participant or the Spouse has died, the survivor, if applicable) must consent to any distribution of such account balance. The consent of the Participant and the Spouse spouse shall be obtained in writing within the 90-90 day period ending on the annuity starting date, date (which is the first day of the first period for which an amount is paid as an annuity or any other form). The Plan Administrator shall notify the Participant and the Participant's Spouse spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3Codess.417(a)(3) (see section 7.2 above), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) . Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if If payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the PlanParticipant, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9ss.ss.401(a)(9) or Code Section 415. In addition, upon termination of this Plan PlaN, if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's or spouse's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [defined contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7ss.4975(e)(7)] ) within the same controlled group. . An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (dor surviving spouse) before the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or 62. For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after December 31, 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributionsaccumulated deductible employee contributions within the meaning of Code ss.72(o)(5)(B).

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or if not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivorSurvivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributions. (e) If a distribution is one to which Code Section 401(a)(11) and 417 do not apply, such distribution may commence less than 30 days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that: (1) the Plan Administrator clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and (2) the Participant, after receiving the notice, affirmatively elects a distribution.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or if not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributions.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions contributions exceeds (or at the time of any prior distribution distributions exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her the Participant's Spouse (or where either the Participant or the Spouse has died, died the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Participant's Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which . The annuity starting date is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3)) of the Code, and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) . Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 Section 10.1 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415415 of the Code. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance maywill, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [defined contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] ) of the Code) within the same controlled group. . An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (dor surviving spouse) before the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or age 62. For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after December 31, 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributionsaccumulated deductible Employee contributions within the meaning of Section 72(o)(5)(B) of the Code.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested vested Account Balance balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account Account balance is immediately distributable, the Participant and his or her Spouse (the Participant's spouse {or where either the Participant or the Spouse spouse has died, the survivor) must consent to any distribution of such account Account balance. The consent of the Participant and the Spouse Participant's spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which . The annuity starting date is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse spouse of the right to defer any distribution until the Participant's account Account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3)) of the Code, and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) . Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Qualified Joint and Survivor Annuity while the account Account balance is immediately distributable. (Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 Subsection 12.08(e) of the Plan, only the Participant need consent to the distribution of an account Account balance that is immediately distributable. .) Neither the consent of the Participant nor the Participant's Spouse spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(940l(a)(9) or Code Section 415415 of the Code. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider) and if the Employer or any entity within the same controlled group as the Employer does not maintain another defined contribution plan (other than an employee stock ownership plan as defined in Section 4975(e)(7) of the Code), the Participant's account Account balance may, without the Participant's consent, be distributed to the Participant or transferred to Participant. However, if any entity within the same controlled group as the Employer maintains another Defined Contribution Plan [defined contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within ) of the same controlled groupCode) then the Participant's Account balance will be transferred, without the Participant's consent, to the other plan if the Participant does not consent to an immediate distribution. An Account balance is immediately distributable if any part of the Account balance could be distributed to the Participant (or surviving spouse) before the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or age 62. (db) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after December 31, 1988, the Participant's Vested vested Account Balance balance shall not include amounts attributable to Qualified Voluntary Contributionsaccumulated deductible employee contributions within the meaning of Section 72(o)(5)(B) of the Code.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of the vested portion of a Participant's Vested ’s Account Balance balance derived from form Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) five thousand dollars ($3,500, 5,000) and the account Account balance is immediately distributable, the Participant and his or her the Participant’s Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account Account balance. The consent of the Participant and the Participant’s Spouse shall be obtained in writing within the ninety (90-) day period ending on the annuity starting date, which Annuity Starting Date. The Annuity Starting Date is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's ’s Spouse of the right to defer any distribution until the Participant's account ’s Account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3)205(c)(3) of ERISA, and shall be provided no less than 30 thirty (30) days and no more than 90 ninety (90) days prior to the annuity starting dateAnnuity Starting Date. (cb) Notwithstanding the foregoingprovisions of Subsection (a), only the Participant need consent to the commencement of a distribution in the form of a qualified Qualified Joint and Survivor Annuity while the account Account balance is immediately distributable. (Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 Section 8.6 of the Plan, only the Participant need consent to the distribution of an account Account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9.) or Code Section 415. In addition, upon Upon termination of this Plan Plan, if the Plan does not offer an annuity option (purchased from form a commercial provider), the Participant's account ’s Account balance may, without the Participant's ’s consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than defined contribution plan sponsored by an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled groupAffiliated Employer. (dc) For purposes of determining the applicability An Account balance is immediately distributable if any part of the foregoing consent requirements Account balance could be distributed to distributions made the Participant (or Surviving Spouse) before the first day Participant attains (or would have attained of not deceased) the first Plan Year beginning after 1988, the Participant's Vested Account Balance shall not include amounts attributable to Qualified Voluntary Contributionslater of Normal Retirement Age.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part If a Participant's Account has become payable pursuant to the provisions of section 7.02 and the Vested Percentage of the account balance could Participant's Account does not exceed $3,500, the value of the Vested Percentage of the Participant's Account shall be distributed to him. If the Vested Percentage of the Participant's Account is zero, the Participant (or Surviving Spouse) before the Participant attains (or would shall be deemed to have attained whether or not deceased) the later received a distribution of the Normal Retirement Age or age 62value of the Vested Percentage of the account. For purposes of computing the value of the Vested Percentage of the Participant's Account, accumulated deductible employee contributions within the meaning of section 72(o)(5)(B) of the Code for Plan Years beginning before January 1, 1989 shall not be considered. (b1) If the value of the Vested Percentage of a Participant's Vested Account Balance derived from Employer and Employee Contributions contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her the Participant's Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Participant's Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other formAnnuity Starting Date. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section section 417(a)(3), and shall be provided no less than 30 days and no more than that 90 days prior to the annuity starting dateAnnuity Starting Date. Notwithstanding the foregoing, if a distribution is one to which sections 401(a)(11) and 417 of the Code do not apply, such distribution may commence less than 30 days after the notice required under section 1.411(a)-11(c) of the regulations under the Code is given, provided that: (A) the Plan Administrator clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and (B) the Participant, after receiving the notice, affirmatively elects a distribution. (c2) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. (Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 section 7.10 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. .) Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section section 401(a)(9) or Code Section 415section 415 of the Code. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance Account may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [defined contribution plan (other than an employee stock ownership plan as defined in Code Section section 4975(e)(7)] ) of the Code) within the same controlled group. (d3) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained if not deceased) the later of Normal Retirement Age or age 62. (4) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after December 31, 1988, the value of the Vested Percentage of the Participant's Vested Account Balance shall not include amounts attributable to Qualified Voluntary Contributionsaccumulated deductible employee contributions within the meaning of section 72(o)(5)(B) of the Code.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse the Participant's spouse (or where either the Participant or the Spouse spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse Participant's spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which . The annuity starting date is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) . Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Qualified Joint and Survivor Annuity while the account balance is immediately distributable. (Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 Article XII of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. .) Neither the consent of the Participant nor the Participant's Spouse spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9401(a) (9) or Code Section 415415 of the Code. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [defined contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] ) of the Code) within the same controlled group. An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or surviving spouse) before the Participant attains or would have attained if not deceased) the later of Normal Retirement Age or age 62. (db) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after December 31, 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributionsaccumulated deductible Employee contributions 22 within the meaning of Section 72(o)(5)(B) of the Code.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse spouse of the right to defer any distribution until the Participant's account Account balance in the Plan is no longer immediately distributable. Such notification shall include a general description of the material features, features and an explanation of the relative values of, of the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of section 417(a)(3) of the Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Annuity Starting Date. Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Qualified Joint and Survivor Annuity while the account Participant's Account balance in the Plan is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account Account balance that is immediately distributable. Neither the consent The Participant's Account balance is immediately distributable if any part of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account Account balance may, without the Participant's consent, could be distributed to the Participant (or transferred surviving spouse) before the Participant attains (or would have attained if not deceased) the later of age 62 or the Normal Retirement Age. Such distribution may commence less than 30 days after the notice required under section 1.411(a)-11(c) of the Income Tax regulations is given, provided that: (1) The Plan Administrator clearly informs the Participant that the Participant has a right to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and if applicable, a particular distribution option)] within , (2) The Participant, after receiving the same controlled groupnotice, affirmatively elects a distribution. (d3) For purposes of determining The distribution commences more than 7 days after such explanation is provided. (4) The Participant is permitted to revoke any affirmative distribution election at least until the applicability Annuity Starting Date or, if later, at any time prior to the expiration of the foregoing consent requirements to distributions made before 7 day period that begins the first day after the explanation of the first Plan Year beginning after 1988, Qualified Joint and Survivor Annuity is provided to the Participant's Vested Account Balance shall not include amounts attributable ; and (5) The Annuity Starting Date is a date after the date that the written explanation was provided to Qualified Voluntary Contributionsthe Participant.

Restrictions On Immediate Distributions. (aA) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or if not deceased) the later of the Normal Retirement Age or age 62. (bB) If the value of a Participant's Vested Account Balance vested account balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (cC) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity Annuity, while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan Plan, if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (dD) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance vested account balance shall not include amounts attributable to Qualified Voluntary Contributions. (E) If a distribution is one to which Code Section 401(a)(11) and 417 do not apply, such distribution may commence less than 30 days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that: (1) the Plan Administrator clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and (2) the Participant, after receiving the notice, affirmatively elects a distribution.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested vested Account Balance balance derived from Employer and Employee Contributions contributions exceeds (or at the time of any prior distribution exceeded) Three Thousand Five Hundred Dollars ($3,500), and the account Account balance is immediately distributable, the Participant and his or her Spouse the Participant's spouse (or where either the Participant or the Spouse spouse has died, the survivor) must consent to any distribution of such account Account balance. The consent of the Participant and the Spouse Participant's spouse shall be obtained in writing within the 90-day ninety (90)-day period ending on the "annuity starting date, which ." The annuity starting date is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse spouse of the right to defer any distribution until the Participant's account Account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, of the optional forms of benefit available under the plan Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 thirty (30) days and no more than 90 ninety (90) days prior to the annuity starting date. (cb) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint joint and Survivor Annuity survivor annuity while the account Account balance is immediately distributable. (Furthermore, if payment in the form of a Qualified Joint qualified joint and Survivor Annuity survivor annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the PlanParticipant, only the Participant need consent to the distribution of an account Account balance that is immediately distributable. .) Neither the consent of the Participant nor the Participant's Spouse spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415415 of the Code. In addition, upon termination of this Plan Plan, if the Plan does not offer an annuity option (purchased from a commercial provider), ) and if the Participant's account balance may, without Employer or any entity within the Participant's consent, be distributed to same controlled group as the Participant or transferred to Employer does not maintain another Defined Contribution Plan [defined contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7) of the Code)] , the Participant's account balance will, without the Partici pant's consent, be distributed to the Participant. However, if any entity within the same controlled groupgroup as the Employer maintains another defined contribution plan (other than an employee stock ownership plan as defined in section 4975(e)(7) of the Code) then the Participant's account balance will be transferred, without the Participant's consent, to the other Plan if the Participant does not consent to an immediate distribution. (c) An Account balance is immediately distributable if any part of the Account balance could be distributed to the Participant (or surviving spouse) before the Participant attains or would have attained if not deceased) the later of Normal Retirement Age or age sixty-two (62). (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after December 31, 1988, the Participant's Vested vested Account Balance balance shall not include amounts attributable to Qualified Voluntary Contributionsaccumulated deductible employee contributions within the meaning of Section 72(o)(5)(B) of the Code.

Restrictions On Immediate Distributions. (a) An account balance is immediately distributable if any part of the account balance could be distributed to the Participant (or Surviving Spouse) before the Participant attains (or would have attained whether or not deceased) the later of the Normal Retirement Age or age 62. (b) If the value of a Participant's Vested Account Balance derived from Employer and Employee Contributions exceeds (or at the time of any prior distribution exceeded) $3,500, and the account balance is immediately distributable, the Participant and his or her Spouse (or where either the Participant or the Spouse has died, the survivor) must consent to any distribution of such account balance. The consent of the Participant and the Spouse shall be obtained in writing within the 90-90 day period ending on the annuity starting date, which is the first day of the first period for which an amount is paid as an annuity or any other form. The Plan Administrator shall notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's account balance is no longer immediately distributable. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3), and shall be provided no less than 30 days and no more than 90 days prior to the annuity starting date. (c) Notwithstanding the foregoing, only the Participant need consent to the commencement of a distribution in the form of a qualified Joint and Survivor Annuity while the account balance is immediately distributable. Furthermore, if payment in the form of a Qualified Joint and Survivor Annuity is not required with respect to the Participant pursuant to paragraph 8.7 of the Plan, only the Participant need consent to the distribution of an account balance that is immediately distributable. Neither the consent of the Participant nor the Participant's Spouse shall be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or Code Section 415. In addition, upon termination of this Plan if the Plan does not offer an annuity option (purchased from a commercial provider), the Participant's account balance may, without the Participant's consent, be distributed to the Participant or transferred to another Defined Contribution Plan [other than an employee stock ownership plan as defined in Code Section 4975(e)(7)] within the same controlled group. (d) For purposes of determining the applicability of the foregoing consent requirements to distributions made before the first day of the first Plan Year beginning after 1988, the Participant's Vested Account Balance shall not include amounts attributable to Qualified Voluntary Contributions.