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

• Payment of a Participant's Distributable Benefit under this Article 9.

• For purposes of this Section, if the value of a Participant's Distributable Benefit is zero, the Participant shall be deemed to have received payment of his Distributable Benefit.

• Distributable Benefit" shall mean 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.

• Beneficiary" or "Beneficiaries" means the person or persons last designated by a Participant as set forth in Section 9.9. or, if there is no designated Beneficiary or surviving Beneficiary, the person or persons designated in Section 9.9. to receive the Distributable Benefit of a deceased Participant in such event.

• To the extent that a Participant elects payment of his Distributable Benefit in cash and such payment is attributable to Stock held in the Participant's Accounts, such Stock shall be sold by the Trustee as soon as practicable after communication to the Trustee of the Participant's election to receive cash with respect to such shares, and the amount distributable to the Participant shall be equal to the proceeds of such sale, after deduction of any expenses associated with the sale, if any.

More Definitions of Distributable Benefit

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 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 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.

Distributable Benefit means the vested interest of a Participant in this Plan which is determined and distributable in

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.

Distributable Benefit means the balance of the --------------------- Participant's Plan Account as of 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.