Distributable Benefit definition

Distributable Benefit means the vested interest of a Participant in this Plan which is determined and distributable in accordance with the provisions of Article VIII.

Distributable Benefit. The benefit to which a Participant is entitled following termination of his employment.

Distributable Benefit means a Participant's total benefits in the Plan that is determined based on the number of shares of Company Stock allocated to the Participant's Accounts, and by applying the value (if any) of his ESOP Allocations not invested in shares of Company Stock towards the purchase of Company Stock, with the objective of obtaining the maximum number of whole shares of Company Stock for distribution to the Participant by combining any fractional shares so acquired with any fractional shares credited to his Accounts.

Examples of Distributable Benefit in a sentence

• Following termination of the Plan, the Trust will continue until the Distributable Benefit of each Participant has been distributed.

• The nature of the distribution of a Participant's Distributable Benefit shall be as hereinafter provided.

• If any portion of the Distributable Benefit is forfeited because the Participant or Beneficiary cannot be found, such portion shall be reinstated if a claim is made by the Participant or Beneficiary.

• An Employee who has become a Participant shall remain a Participant until the entire amount of his Distributable Benefit is distributed to him or his Beneficiary in the event of death.

• The person or persons last designated by a Participant as set forth in Section 9.8 or, if there is no designated Beneficiary or surviving Beneficiary, the person or persons designated in Section 9.8 to receive the Distributable Benefit of a deceased Participant.

More Definitions of Distributable Benefit

Distributable Benefit means the vested and nonforfeitable portion of the Participant's Plan Account as of his Benefit Payment Date (determined based upon the vested interest that the Participant has or would have in his Plan Account at the end of the Plan Year that includes his Benefit Payment Date), as adjusted to reflect any gain or loss allocable to his Plan Account for periods after his Benefit Payment Date and before complete distribution from the Plan.

Distributable Benefit means the vested interest of a Participant in this Plan which is determined and distributable in accordance with the provisions of Article VIII following the termination of the Participant’s employment.

Distributable Benefit means the Vested Interest of a Participant in this Plan which is determined and distributable to the Participant upon termination of the Participant's employment in accordance with the provisions of Articles IX and X.

Distributable Benefit means the Vested Interest of a Participant in this Plan that is determined and distributable to him in accordance with the provisions of Article VI and which shall include his Vested Interest in his Plan Account, Matching Contribution Account, Profit Sharing Account, Voluntary Account, Rollover Account, ESOP Account, TRASOP Account, CODA Account and PSRP Profit Sharing Account, if any. In the case of an Alternate Payee, the Distributable Benefit shall mean the Vested Interest in the Alternate Payee Account and ESOP Alternate Payee Account, if any.

Distributable Benefit means the Vested Interest of a Participant in this Plan which is determined and distributable to the Participant upon termination of the Participant's employment in accordance with the provisions of Articles IX and X. 2.13 Effective Date.

Distributable Benefit means that portion of each Account to which the Participant, or his/her Beneficiary, is entitled upon the Determination Date, as defined in Section 3.3.

Distributable Benefit means the Vested Interest of a Participant in this Plan which is determined and distributable to the Participant in accordance with the provisions of Articles 8., 9. and 10.