TERMINATION OF EMPLOYMENT FOR A REASON OTHER THAN DEATH Sample Clauses
The 'Termination of Employment for a Reason Other Than Death' clause defines the conditions and procedures under which an employment relationship may end for reasons not related to the employee's death. This clause typically outlines the grounds for termination, such as resignation, dismissal for cause, redundancy, or mutual agreement, and may specify notice periods, severance entitlements, or post-termination obligations. Its core practical function is to provide a clear framework for ending employment in various scenarios, thereby reducing uncertainty and potential disputes between employer and employee.
TERMINATION OF EMPLOYMENT FOR A REASON OTHER THAN DEATH. For a Participant who terminates employment with the Employer for a reason other than death, the Advisory Committee will direct the Trustee to commence distribution of the Participant's Accrued Benefit, as follows:
TERMINATION OF EMPLOYMENT FOR A REASON OTHER THAN DEATH. For a Participant who terminates employment with the Employer for a reason other than death, the Advisory Committee will direct the Trustee to commence distribution of the Participant's Accrued Benefit, as follows:
(1) PARTICIPANT'S NON-FORFEITABLE ACCRUED BENEFIT NOT EXCEEDING $3,500. In a lump sum, on the first distribution date in the first Plan Year beginning after the Participant's Separation from Service, but in no event later than the 60th day following the close of the Plan Year in which the Participant attains Normal Retirement Age. If the Participant has attained Normal Retirement Age when he separates from Service, the distribution under this paragraph will occur no later than the 60th day following the close of the Plan Year in which the Participant's Separation from Service occurs.
TERMINATION OF EMPLOYMENT FOR A REASON OTHER THAN DEATH. For a Participant who terminates employment with the Employer for a reason other than death, the Advisory Committee will direct the Trustee to commence distribution of the Participant's Accrued Benefit, as follows:
(1) PARTICIPANT'S NONFORFEITABLE ACCRUED BENEFIT NOT EXCEEDING $3,500. In a lump sum, on the first distribution date after the close of the Plan Year during which the Participant separated from Service, but in no event later than the 60th day following the close of the Plan Year in which the Participant attains Normal Retirement Age. If the Participant has attained Normal Retirement Age when he separates from Service, the distribution will occur no later than the 60th day following the close of the Plan Year in which the Participant's Separation from Service occurs. In the case of a Participant who separates from Service between January 1 and September 30, and who has attained age 55 on or before the date of his Separation from Service, the Participant may elect to have the Trustee commence distribution as of the 30th day after the end of the calendar quarter in which his Separation from Service occurs, or as soon as administratively practicable thereafter.
TERMINATION OF EMPLOYMENT FOR A REASON OTHER THAN DEATH. For a Participant who terminates employment with the Employer for a reason other than death, the Advisory Committee will direct the Trustee to commence distribution of the Participant's Accrued Benefit, as follows:
(1) PARTICIPANT'S NONFORFEITABLE ACCRUED BENEFIT NOT EXCEEDING $3,500. On the first distribution date in the first Plan Year beginning after the Participant's Separation from Service with the Employer, but in no event later than the 60th day following the close of the Plan Year in which the Participant attains Normal Retirement Age. If the Participant has obtained Normal Retirement Age when he separates from Service with the Employer, the distribution under this paragraph will occur no later than the 60th day following the close of the Plan Year in which the Participant's Separation from Service occurs.
(2) OTHER THAN DISABILITY AND PARTICIPANT'S NONFORFEITABLE ACCRUED BENEFIT EXCEEDS $3,500. In the absence of an election by the Participant for an earlier distribution consistent with the provisions of the Plan, the Advisory Committee will direct the Trustee to distribute or to begin distribution of the Participant's Nonforfeitable Accrued Benefit on the 60th day following the close of the Plan Year in which the latest of the following events occurs: (a) the Participant attains Normal Retirement Age; (b) the Participant attains age 62; or (c) the Participant separates from Service. If the Participant elects an earlier distribution, the Advisory Committee will direct the Trustee to distribute or begin distribution at the earliest distribution date consistent with Section 6.3(A).