Immediate Lump Sum Payment. Upon a Participant’s Retirement or Disability, the vested balance in his or her Accounts shall be paid to the Participant in a lump sum on the fifteenth (15th) day of the month following the end of the month in which such event occurs, in an amount equal to the balance credited to such Accounts as of the last day of the month in which such event occurs, except as otherwise provided in the following provisions of this [Section 5.1(a)], and/or in [Article VIII] in the case of payments to Specified Employees.
Immediate Lump Sum Payment. Upon a Participant’s Retirement or Disability, the vested balance in his or her Accounts shall be paid to the Participant inIn a lump sum on the fifteenth (15th) day of January of the monthyear following the endyear of such Participant’s Retirement or Disability (the following clause only applies as a Post-2005 Provision with respect to Post-2005 Benefits) provided, however, that if the Participant is a Specified Employee upon Retirement, the Lump Sum shall be payable on the later of # the first business day that is more than six (6) months following Retirement or # the fifteenth day of January of the month in whichyear following the year of such event occurs, in an amount equal to the balance credited to such Accounts as of the last day of the month in which such event occurs, except as otherwise provided in the following provisions of this [Section 5.1(a)], and/Participant’s Retirement; or in [Article VIII] in the case of payments to Specified Employees.
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