PLAN YEAR.
5.4.4
IN THE EVENT THAT ANY PROVISION OF THIS SECTION 5.4
IS NO LONGER REQUIRED TO QUALIFY THE PLAN UNDER THE CODE, THEN SUCH PROVISION
SHALL THEREUPON BE VOID WITHOUT THE NECESSITY OF FURTHER AMENDMENT OF THE PLAN.
24
ARTICLE VI
AMOUNT AND PAYMENT OF BENEFITS TO PARTICIPANTS,
6.1
TERMINATION OF EMPLOYMENT
6.1.1
UPON A TERMINATION OF EMPLOYMENT, A PARTICIPANT
SHALL BE ENTITLED TO RECEIVE THE VESTED PORTION OF HIS OR HER ACCOUNT BALANCE,
DETERMINED AS OF THE VALUATION DATE NEXT FOLLOWING HIS OR HER BENEFIT
COMMENCEMENT DATE, AS DETERMINED UNDER SECTION 6.1.2.
6.1.2
(A)
SUBJECT TO
(B) AND (C) BELOW, AND SECTION 6.2, A PARTICIPANT'S BENEFIT COMMENCEMENT DATE
SHALL BE THE DATE DETERMINED UNDER SECTION 6.1.3.
(B)
A PARTICIPANT WHO TERMINATES EMPLOYMENT
PRIOR TO HIS OR HER NORMAL RETIREMENT DATE MAY MAKE A WRITTEN ELECTION (WITH
SPOUSAL CONSENT, IF MARRIED) TO RECEIVE HIS OR HER VESTED ACCOUNT BALANCE AS OF
A DATE PRIOR TO HIS OR HER NORMAL RETIREMENT DATE, PROVIDED SUCH ELECTION IS
MADE DURING THE 90-DAY PERIOD PRECEDING HIS BENEFIT COMMENCEMENT DATE.
THE
ADMINISTRATIVE COMMITTEE SHALL NOTIFY THE PARTICIPANT (AND THE PARTICIPANT'S
SPOUSE, IF ANY) OF THE RIGHT TO ANY DISTRIBUTION UNTIL THE PARTICIPANT'S
REQUIRED DISTRIBUTION DATE. SUCH NOTIFICATION SHALL INCLUDE A GENERAL
DESCRIPTION OF THE MATERIAL FEATURES OF THE OPTIONAL FORMS OF BENEFIT UNDER THE
PLAN IN A MANNER WHICH WOULD SATISFY THE NOTICE REQUIREMENTS OF TREASURY
REGULATIONS SECTION 1.411(A)-L1. SUCH NOTICE SHALL BE PROVIDED NO LESS THAN 30
DAYS AND NO MORE THAN 90 DAYS PRIOR TO THE BENEFIT COMMENCEMENT DATE. HOWEVER,
DISTRIBUTION MAY COMMENCE LESS THAN 30 DAYS AFTER SUCH NOTICE IS PROVIDED, SO
LONG AS (I) THE PARTICIPANT (AND HIS OR HER SPOUSE, IF APPLICABLE) HAS BEEN
PROVIDED WITH INFORMATION THAT CLEARLY INDICATES THAT HE OR SHE HAS AT LEAST 30
DAYS TO CONSIDER WHETHER TO CONSIDER THE DECISION OF WHETHER OR NOT TO ELECT A
DISTRIBUTION; AND (II) THE PARTICIPANT (AND HIS OR HER SPOUSE, IF APPLICABLE)
AFFIRMATIVELY ELECTS A DISTRIBUTION.
(C)
NOTWITHSTANDING (B) ABOVE, IF A
PARTICIPANT'S VESTED ACCOUNT BALANCE DOES NOT EXCEED $1,000, THE PARTICIPANT'S
VESTED ACCOUNT BALANCE UNDER THIS PLAN SHALL BE PAID TO HIM OR HER IN A LUMP SUM
DISTRIBUTION AS SOON AS PRACTICABLE FOLLOWING HIS OR HER TERMINATION OF
EMPLOYMENT. FOR THIS PURPOSE, IF A PARTICIPANT DOES NOT HAVE A VESTED INTEREST
IN HIS OR HER ACCOUNT (AND THUS IS NOT ENTITLED TO ANY DISTRIBUTION FROM SUCH
ACCOUNT), THE PARTICIPANT SHALL BE DEEMED TO HAVE RECEIVED A COMPLETE
DISTRIBUTION OF HIS OR HER INTEREST IN SUCH ACCOUNT UPON TERMINATION OF
EMPLOYMENT.
6.1.3
UNLESS THE PARTICIPANT OTHERWISE ELECTS, IN NO
EVENT SHALL HE OR SHE BEGIN TO RECEIVE A BENEFIT LATER THAN THE SIXTIETH DAY
AFTER THE CLOSE OF THE PLAN YEAR IN WHICH THE LATEST OF THE FOLLOWING EVENTS
OCCURS:
(A)
THE DATE THE PARTICIPANT ATTAINS HIS OR HER
NORMAL RETIREMENT AGE;
(B)
THE PARTICIPANT'S TERMINATION OF EMPLOYMENT;
OR
(C)
THE 10TH ANNIVERSARY OF THE YEAR IN WHICH
THE PARTICIPANT COMMENCED PARTICIPATION IN