Unforeseeable Emergency. Notwithstanding that an effective designation of a Beneficiary entitled to receive payment of benefits or remainder thereof may then be in force, the Board may, at its option, at any time or from time to time in its absolute and sole discretion, as permitted within the meaning of Section 409A of the Code and Treasury Regulations Section 1.409A-3(g)(3), accelerate the time and form of payment of any one or more payments hereunder in event of any Unforeseeable Emergency; provided that Employee is at least age 55 upon the occurrence of the Unforeseeable Emergency.
Appears in 7 contracts
Samples: Supplemental Retirement Plan (York Water Co), Supplemental Executive Retirement Plan (York Water Co), Supplemental Retirement Plan (York Water Co)
