OF THE COMPANY SHALL BE NOTIFIED OF SUCH ENTITLEMENT AS PROVIDED
IN SECTION 10.8 OF THE PLAN.
(D)
SUBJECT TO THE FOREGOING PROVISIONS OF THIS SECTION 3.6 AND TO THE
PROVISIONS OF SECTION 3.7, A PARTICIPANT OR FORMER PARTICIPANT WHO (I) MADE
EMPLOYEE CONTRIBUTIONS TO THE UOP PENSION PLAN PRIOR TO JANUARY 1, 1984,
(II) ELECTS AFTER OCTOBER 1, 1988 AND PRIOR TO MARCH 1, 1990 TO WITHDRAW ALL
SUCH CONTRIBUTIONS WITH ACCRUED INTEREST, AND (III) HAS AN ACCRUED BENEFIT UNDER
THE PLAN IMMEDIATELY FOLLOWING SUCH WITHDRAWAL THE PRESENT VALUE OF WHICH
(DETERMINED USING THE ACTUARIAL EQUIVALENT DEFINITION APPLICABLE TO SMALL
BENEFIT CASHOUTS UNDER SECTION 3.13) IS EQUAL TO $3,500 OR LESS, MAY ELECT TO
RECEIVE AN IMMEDIATE LUMP SUM DISTRIBUTION OF SUCH REMAINING ACCRUED BENEFIT.
SECTION 3.6 OF THE PLAN WAS AMENDED BY AMENDMENT NO. 1,
EFFECTIVE AS OF JANUARY 1, 1998, BY SUBSTITUTING THE NUMBER "$5,000" FOR
THE NUMBER "$3,500" WHEREVER THE LATTER APPEARS THEREIN.
SECTION 3.7
STATUTORY JOINT AND SURVIVOR ANNUITY.
(A)
NOTWITHSTANDING ANYTHING IN THE PLAN TO THE CONTRARY, THE BENEFIT, IF ANY, OF A
PARTICIPANT OR FORMER PARTICIPANT COMMENCING ON HIS "ANNUITY STARTING DATE"
(MEANING EITHER THE FIRST DAY OF THE FIRST PERIOD WITH RESPECT TO WHICH AN
AMOUNT IS RECEIVED AS A LIFE ANNUITY; OR IN THE CASE OF A BENEFIT NOT PAYABLE IN
THE FORM OF AN ANNUITY, THE FIRST DAY ON WHICH ALL EVENTS HAVE OCCURRED WHICH
ENTITLE THE PARTICIPANT TO AN ANNUITY) SHALL BE A STATUTORY JOINT AND SURVIVOR
ANNUITY WHICH IS IMMEDIATELY AVAILABLE, AS DESCRIBED IN SUBSECTION, IF
(I)
HE WAS MARRIED UPON HIS ANNUITY STARTING
DATE,
31
(II)
HE NOTIFIED THE ADMINISTRATOR IN WRITING
PRIOR TO HIS ANNUITY STARTING DATE THAT HE WAS MARRIED, AND
(III)
HE HAS NOT OTHERWISE ELECTED UNDER
SUBSECTION.
(B)
THE JOINT AND SURVIVOR ANNUITY OF A PARTICIPANT OR FORMER
PARTICIPANT SHALL BE A BENEFIT, REDUCED AS PROVIDED IN SUBSECTION, CONSISTING OF
MONTHLY PAYMENTS TO HIM BEGINNING ON HIS ANNUITY STARTING DATE AND ENDING WITH
THE CALENDAR MONTH IN WHICH HIS DEATH OCCURS WITH THE PROVISION THAT, IF HE DIES
AFTER HIS ANNUITY STARTING DATE SURVIVED BY THE SPOUSE TO WHOM HE WAS MARRIED ON
HIS ANNUITY STARTING DATE, SUCH SPOUSE SHALL RECEIVE MONTHLY PAYMENTS OF FIFTY
PERCENT OF SUCH REDUCED BENEFIT BEGINNING ON THE FIRST DAY OF THE CALENDAR MONTH
FOLLOWING THE MONTH IN WHICH THE PARTICIPANT OR FORMER PARTICIPANT DIES.
PAYMENTS TO SUCH PARTICIPANT'S OR FORMER PARTICIPANT'S SPOUSE CONTINUE UNTIL THE
FIRST DAY OF THE CALENDAR MONTH FOLLOWING THE SPOUSE'S DEATH.
(C)
THE REDUCED BENEFIT PAYABLE UNDER THIS SECTION TO A PARTICIPANT OR
FORMER PARTICIPANT DURING HIS LIFETIME SHALL BE AT A MONTHLY RATE SUCH THAT HIS
JOINT AND SURVIVOR ANNUITY IS THE ACTUARIAL EQUIVALENT OF HIS DISABILITY, EARLY
OR NORMAL RETIREMENT BENEFIT, AS THE CASE MAY BE.
(D)
A PARTICIPANT OR FORMER PARTICIPANT REFERRED TO IN SUBSECTION (A)
MAY ELECT IN WRITING, IN THE MANNER PRESCRIBED BY THE ADMINISTRATOR AND WITH THE
CONSENT OF SUCH PARTICIPANT'S OR FORMER PARTICIPANT'S SPOUSE, IF