Upon a Participant definition

Upon a Participant s Retirement, the Participant's SERP benefits shall be distributed to the Participant in a lump sum cash payment or in substantially equal annual cash installments over a fixed period not to exceed such period established by the Committee or its delegate, as elected by the Participant in accordance with Section 5.5.

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Upon a Participant s Retirement on or after his Normal Retirement Date, all amounts credited to the Participant's Account shall become fully vested and nonforfeitable and such Account shall be distributed in accordance with this Article.

Upon a Participant s retirement, or if the Participant has terminated employment and attained age 55, the Participant may elect that his Account balance be distributed in two parts as a percent or in a dollar amount between:

Examples of Upon a Participant in a sentence

• Upon a Participant ceasing to be an Eligible Participant for "cause", all unexercised vested or unvested Share Units, Options and DSUs granted to such Participant shall terminate for nil consideration on the effective date of the termination as specified in the notice of termination.

• Upon a Participant funding the amount of its Commitment, the Commitment of such Participant shall terminate.

• Upon a Participant no longer serving as a director on the Board and on the board of directors of any Subsidiary (a “Subsidiary Board”) (such event being a “Termination Event”), as applicable, by reason of death or Disability of the Participant, all unvested shares of Restricted Stock shall become fully vested.

• Upon a Participant ceasing to be an Eligible Participant for Cause, any vested or unvested Option or SAR granted to such Participant shall terminate automatically and become void immediately.

• Upon a Participant ceasing to be an Eligible Participant as a result of his or her employment or service relationship with the Corporation or a Subsidiary being terminated without Cause, (i) any unvested Option or SAR granted to such Participant shall terminate and become void immediately and (ii) any vested Option or SAR granted to such Participant may be exercised by such Participant.

• Upon a Participant ceasing to be an Eligible Participant for any reason, any Unvested Shares that have not vested at such time shall automatically and without any requirement of notice to such Participant, or other action by or on behalf of the Corporation, be deemed to have been reacquired by the Corporation from such Participant, and thereafter shall cease to represent any ownership in the Corporation by the Participant or rights of the Participant as a shareholder of the Corporation.

• Upon a Participant ceasing to be an Eligible Participant by reason of death, any vested Option or SAR granted to such Participant may be exercised by the liquidator, executor or administrator, as the case may be, of the estate of the Participant for that number of Shares only which such Participant was entitled to acquire under the respective Options or SARs (the “Vested Awards”) hereof on the date of such Participant’s death.

• Upon a Participant or Beneficiary becoming entitled to a benefit under the Plan, the Participant's Transfer Account shall be used to provide additional benefits to the Participant or the Beneficiary.

• Upon a Participant ceasing to be an Eligible Participant as a result of his or her resignation from the Corporation or a Subsidiary, (i) each unvested Option or SAR granted to such Participant shall terminate and become void immediately upon resignation and (ii) each vested Option or SAR granted to such Participant will cease to be exercisable on the earlier of the ninety (90) days following the Termination Date and the expiry date of the Award set forth in the Grant Agreement.

More Definitions of Upon a Participant

Upon a Participant s: (i) retirement on or after his Normal Retirement Date; (ii) retirement due to Disability; (iii) death; or (iv) Termination of Employment (subject to SECTION 4.09), he or his Beneficiary shall be entitled to payment in an amount determined in accordance with the provisions of ARTICLE 7, 8, 9 or 10. All distributions shall be in either cash or in whole shares of Company Stock to the extent such Participant's Account is invested in Company Stock, as elected by the Participant or his Beneficiary. The amount to which a Participant is entitled shall be paid to him or his Beneficiary or to an Alternate Payee in: (i) a single lump sum distribution; or (ii) installments subject to the limitations set forth in SUBSECTION 11.01(2).

Upon a Participant s: (i) retirement on or after his Normal Retirement Date; (ii) retirement due to disability; (iii) death; or (iv) termination of employment (subject to Section 4.09), he or his Beneficiary shall be entitled to payment in an amount determined in accordance with the provisions of Article 7, 8, 9, or 10. All distributions shall be either solely in cash or solely in whole shares of Company Stock (with the value of any fractional share paid in cash) to the extent such Participant's Account is invested in Company Stock, (but not both) as elected by the Participant or his Beneficiary. The amount to which a Participant is entitled shall be paid to him or his Beneficiary or to an Alternate Payee in: (i) a single lump sum distribution; or (ii) installments subject to the limitations set forth in Subsection 11.01(2)."

Upon a Participant s retirement at or after his Retirement Date, Disability, death or termination of employment, or the occurrence of his Required Beginning Date, the Participant, or in the case of his death, his Beneficiary, shall be entitled to receive a distribution of the assets in his Employee Account and that part of the assets in his Company Account in which he is vested. In the case of a Participant who incurs a One-Year Break-in-Service the assets in his Company Account in which he is vested shall be determined as of his date of termination of employment. The assets to which such Participant is entitled shall be distributed to him as promptly as possible after the end of the calendar month which is thirty (30) days after the later of (i) the date he filed his election under Section 8.2 as to the form of his distribution, (ii) the date he retired, became Disabled, died or terminated his employment or reached his Required Beginning Date or (iii) the anniversary of the date he retired, became Disabled, died or terminated his employment or reached his Required Beginning Date; provided, however, that if the distribution is one to which Sections 401(a) (11) and 417 of the Code do not apply, such distribution may commence less than 30 days after the notice required under Treas. Reg. ss. l.411(a)-11(c) is given, provided that:

Upon a Participant s Termination of Employment (for any reason other than Retirement), the vested portion of the Participant's SERP benefits shall be distributed to the Participant in a lump sum cash payment as soon as administratively practicable after the Valuation Date coinciding with or immediately following such Termination of Employment. The amount to be distributed to a Participant pursuant to this Section 5.2 shall be the value of the vested portion of the Participant's Account as of the Valuation Date coinciding with or immediately following the Participant's Termination of Employment.