RETIRES AT THE OPTION OF B&W AND UNDER
MUTUALLY SATISFACTORY CONDITIONS HE SHALL BE ELIGIBLE FOR AN EARLY RETIREMENT
PENSION AS PROVIDED IN SECTION 14.4.3(B)(II), OR
(IV)
AFTER 10 YEARS OF ELIGIBILITY SERVICE IN THE EVENT TERMINATION IS
CAUSED BY DISABILITY AND THE ERI HOURLY PARTICIPANT IS SO DISABLED PRIOR TO
REACHING AGE 65.
(C)
NOTWITHSTANDING ANY OTHER PROVISIONS OF THE PLAN, AN ERI HOURLY
PARTICIPANT WHOSE EMPLOYMENT TERMINATES, AND (I) WHO (A) BECAME VESTED IN HIS
ACCRUED BENEFIT EFFECTIVE FEBRUARY 27, 1987 PURSUANT TO ARTICLE XIII OF THE ERI
HOURLY PLAN OR (B) AT THE TIME OF SUCH TERMINATION SHALL HAVE 10 OR MORE YEARS
OF ELIGIBILITY SERVICE (5 OR MORE YEARS OF ELIGIBILITY SERVICE IN THE CASE OF AN
ERI HOURLY PARTICIPANT WITH ONE OR MORE HOURS OF SERVICE AFTER
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December 31, 1988), and (ii) who shall not be eligible for or receiving any
other pension under the Plan based (in whole or in part) on Credited Service
prior to the date of such termination, shall be entitled to a Deferred Vested
Pension as provided in Section 14.4.3(d) of the Plan.
(D)
NOTWITHSTANDING ANY OTHER PROVISIONS OF THE PLAN, AN ERI HOURLY
PARTICIPANT OR SURVIVING SPOUSE ENTITLED TO RECEIVE A PENSION MAY, FOR PERSONAL
REASONS AND WITHOUT DISCLOSURE THEREOF, REQUEST THE ADMINISTRATOR IN WRITING TO
SUSPEND FOR ANY PERIOD PAYMENT OF ALL OR ANY PART OF SUCH PENSION OTHERWISE
PAYABLE TO HIM HEREUNDER. THE ADMINISTRATOR, ON RECEIPT OF SUCH REQUEST, SHALL
AUTHORIZE SUCH SUSPENSION, IN WHICH EVENT THE ERI HOURLY PARTICIPANT SHALL BE
DEEMED TO HAVE FORFEITED ALL RIGHTS TO THE AMOUNT OF PENSION SO SUSPENDED, BUT
SHALL RETAIN THE RIGHT TO HAVE THE FULL PENSION OTHERWISE PAYABLE TO HIM
HEREUNDER REINSTATED AS TO FUTURE MONTHLY PAYMENTS UPON WRITTEN NOTICE TO THE
ADMINISTRATOR OF HIS DESIRE TO REVOKE HIS PRIOR REQUEST FOR A SUSPENSION UNDER
THIS PARAGRAPH. ANY SUSPENSION REQUESTED HEREUNDER BY AN ERI HOURLY PARTICIPANT
OR BENEFITS PAYABLE TO HIM UNDER THE PLAN SHALL NOT AFFECT BENEFITS PAYABLE
UNDER ANY SURVIVORSHIP ELECTION HE HAS MADE OR IS DEEMED TO HAVE MADE UNDER THE
PLAN.
(E)
PAYMENT OF BENEFITS WILL, UNLESS THE ERI HOURLY PARTICIPANT ELECTS
A LATER DATE, BEGIN NOT LATER THAN THE LATER OF (I) SIXTY DAYS AFTER THE CLOSE
OF THE PLAN YEAR IN WHICH THE ERI HOURLY PARTICIPANT ATTAINS THE EARLIER OF AGE
65 OR THE NORMAL RETIREMENT DATE OR (II) SIXTY DAYS AFTER THE END OF THE PLAN
YEAR IN WHICH THE ERI HOURLY PARTICIPANT'S EMPLOYMENT TERMINATES. THE PAYMENT OF
BENEFITS SHALL BE FURTHER SUBJECT TO SECTION 3.16.
(F)
NOTWITHSTANDING ANY OTHER PROVISIONS OF THE PLAN AN ERI HOURLY
PARTICIPANT, UPON ATTAINING THE AGE OF 65, SHALL, PRIOR TO RETIREMENT OR
TERMINATION OF EMPLOYMENT, BEGIN RECEIVING A PENSION ON THE FIRST OF THE MONTH
FOLLOWING ATTAINMENT OF SUCH AGE.
SECTION 14.4.3
RETIREMENT AND OTHER BENEFITS.
(A)
NORMAL RETIREMENT PENSION.
THE AMOUNT OF THE MONTHLY PENSION
PAYABLE OUT OF THE TRUST TO AN ERI HOURLY PARTICIPANT UPON OR AFTER REACHING AGE
65