Special Distribution Rules. Except as provided in the Adoption Agreement, Elective Deferrals, Qualified Nonelective Contributions, Qualified Matching Contributions and income allocable thereto are not distributable to the Participant, or the Participant's Beneficiary, in accordance with the Participant's or Beneficiary's election, earlier than upon separation from service, death, or Total and Permanent Disability. Distribution (if elected in the Adoption Agreement) upon termination of the Plan without the establishment or maintenance of a successor plan, the Employer's sale of substantially all of the assets of a trade or business or the sale of the Employer's interest in a subsidiary may only be made, after March 31, 1988, in a lump sum distribution within the meaning of section 401(k)(10)(B) of the Code. Unless the Plan is a Profit Sharing Plan exempt from the Automatic Annuity rules of Section 8.2 pursuant to Section 8.3, all distributions that may be made pursuant to one or more of the foregoing distributable events are subject to the spousal and Participant consent requirements contained in sections 401(a)(11) and 417 of the Code.
Special Distribution Rules. No special distribution rules apply, unless specifically provided under this AA §10-3. 🞎 (a) In-service distributions will only be permitted if the Participant is 100% vested in the source from which the withdrawal is taken.
Special Distribution Rules. Except as otherwise provided herein and in Section 12, Account balances of Participants in this Plan shall not be distributed earlier than the applicable date or dates described in this Section 9. Notwithstanding the foregoing, in the case of payments: (i) the deduction for which would be limited or eliminated by the application of Section 162(m) of the Code; (ii) that would violate securities or other applicable laws; or (iii) that would jeopardize the ability of the Employer to continue as a going concern in accordance with Code Section 409A and the regulations thereunder, deferral of such payments on a reasonably consistent basis for similarly situated Participants may be made by the Employer at the Employer’s discretion. In the case of a payment described in (i) above, the payment must be deferred either to a date in the first year in which the Employer or Administrator reasonably anticipates that a payment of such amount would not result in a limitation of a deduction with respect to the payment of such amount under Section 162(m), or the year in which the Participant’s Termination Date occurs. In the case of a payment described in (ii) or (iii) above, payment will be made at the earliest date in the first taxable year of the Employer in which the Employer or Administrator reasonably anticipates that the payment would not jeopardize the ability of the Employer to continue as a going concern in accordance with Code Section 409A and the regulations thereunder, or the payment would not result in a violation of securities or other applicable laws. Payments intended to pay employment taxes or payments made as a result of income inclusion of an amount in a Participant’s Accounts as a result of a failure to satisfy Section 409A of the Code shall be permitted at the Employer or Administrator’s discretion at any time and to the extent provided in Treasury Regulations under Section 409A of the Code and IRS Notice 2005-1, Q&A-15, and any applicable subsequent guidance. “Employment taxes” shall include Federal Insurance Contributions Act (FICA) tax imposed under Sections 3101, 3121(a) and 3121(v)(2) of the Code on compensation deferred under the Plan (the “FICA Amount”), the income tax imposed under Section 3401 of the Code or corresponding provisions of applicable state, local or foreign tax laws on the FICA Amount, and to pay the additional income tax under Section 3401 of the Code or corresponding provisions of applicable state, local or foreign tax laws attri...
Special Distribution Rules. No special distribution rules apply, unless specifically provided under this AA §10-2. □ (a) In-service distributions will only be permitted if the Participant is 100% vested in the amounts being withdrawn. □ (b) A Participant may take no more than in-service distribution(s) in a Plan Year. □ (c) A Participant may not take an in-service distribution of less than $ (may not exceed $1,000).
Special Distribution Rules. Except as provided below, Elective Deferrals, Qualified Non-Elective Contributions and Qualified Matching Contributions, and income allocable to each, are not distributable to a Participant or a Beneficiary, in accordance with such Participant's or Beneficiary's election, earlier than upon separation from service, death, or disability.
Special Distribution Rules. Except as otherwise provided herein and in Section 12, Account balances of Participants in this Plan shall not be distributed earlier than the applicable date or dates described in this
Special Distribution Rules. No special distribution rules apply, unless specifically provided under this AA §10-3. 🞎 (a) In-service distributions will only be permitted if the Participant is 100% vested in the source from which the withdrawal is taken. 🞎 (b) A Participant may take no more than in-service distribution(s) in a Plan Year. 🞎 (c) A Participant may not take an in-service distribution of less than $ . 🞎 (d) A Participant may not take an in-service distribution of more than $ . 🗹 (e) Unless elected otherwise under this subsection, the hardship distribution provisions of the Plan are not expanded to cover primary beneficiaries as set forth in Section 8.09(e)(4) of the Plan. If this subsection is checked, the hardship provisions of the Plan will apply with respect to individuals named as primary beneficiaries under the Plan. 🞎 (f) In determining whether a Participant has an immediate and heavy financial need for purposes of applying the non-safe harbor Hardship provisions under Section 8.09(e)(2) of the Plan, the following modifications are made to the permissible events listed under Section 8.09(e)(1)(i) of the Plan: [Note: This subsection may only be used to the extent a non-safe harbor Hardship distribution is authorized under AA 🞎 (g) Other distribution rules: [Note: This subsection may be used to apply the limitations under this AA §10-3 only to specific in-service distribution options (e.g., hardship distributions).]
Special Distribution Rules. 20 24.01 Special Distribution Rules for Certain Participants ....... 20 24.02 Definitions ............................................... 20 24.03
Special Distribution Rules. (a) Except as otherwise provided in this Section 5.4 or in an Option Agreement, a Unit Recipient must be an Eligible Employee from the date a Unit is awarded to him or her continuously through and including the date of distribution of such Unit.
(b) In case of the Death or Disability of a Unit Recipient prior to the end of any Performance Period, the number of Units awarded to the Unit Recipient for such Performance Period shall be reduced pro rata based on the number of months remaining in the Performance Period after the month of Death or Disability. The remaining Units, reduced in the discretion of the Committee to the percentage indicated by the levels of performance achieved prior to the date of Death or Disability, if any, shall be distributed within a reasonable time after Death or Disability. All other Units awarded to the Unit Recipient for such Performance Period shall be canceled.
(c) If a Unit Recipient enters into Retirement prior to the end of any Performance Period, the Units awarded to such Unit Recipient under this Article V and not yet distributed shall be prorated to the end of the year in which such Retirement occurs and distributed at the end of the Performance Period based upon the Company's performance for such period.
(d) In the event of the termination of the Unit Recipient's status as an Eligible Employee prior to the end of any Performance Period for any reason other than Death, Disability or Retirement, all Units awarded to the Unit Recipient with respect to any such Performance Period shall be immediately forfeited and canceled.
Special Distribution Rules. Notwithstanding the foregoing, to the extent Net Cash Flow is available, the total distributions to a Member for each fiscal year (and the ninety (90) day period following such fiscal year) shall not be less than an amount equal to the product of: (x) the Company’s net taxable income allocated to such Member for such fiscal year and all prior fiscal years for federal income tax purposes, multiplied by (y) the highest marginal combined federal, state and local income tax rate applicable to the Member having the highest combined income tax bracket (or the owners of the Members if the Members are tax transparent for U.S. federal income tax purposes), after taking into account the federal income tax deduction for such taxes, reduced by all prior distributions pursuant to Section 5.2, regardless of the actual federal tax rates applicable to the Members (“Minimum Distributions”). To the extent that such Minimum Distributions requirement increases the amount of distributed Net Cash Flow beyond the amount to which a Member would be entitled in the absence thereof, the excess portion shall be considered a prepayment of future distributions of Net Cash Flow allocable to such Member; provided that adjustments to any such future distributions to that Member shall not decrease its aggregate Net Cash Flow distributions below an amount necessary to meet the Minimum Distribution requirement for such Member for subsequent fiscal years. All amounts withheld pursuant to the Code or any provision of any foreign, state or local tax law or treaty with respect to any payment, distribution or allocation to the Company or the Members shall be treated as amounts distributed to the Members pursuant to this Article 5 for all purposes of this Agreement. The Managers are authorized to withhold from distributions to the Members and to pay over to any federal, foreign, state or local government any amounts required to be so withheld pursuant to the Code or any provision of any other federal, foreign, state or local law or treaty and shall allocate such amounts to those Members with respect to which such amounts were withheld.
