New distributable event Clause Samples
The "New distributable event" clause defines circumstances under which a new event or occurrence qualifies as distributable under the terms of an agreement. Typically, this clause outlines the criteria or triggers that must be met for an event to be recognized as one that entitles parties to a distribution, such as a payment, allocation of assets, or other benefits. For example, it may specify that a new product launch, acquisition, or regulatory approval constitutes a distributable event. The core function of this clause is to provide clarity and certainty about when distributions are triggered, thereby reducing disputes and ensuring all parties understand their rights and obligations regarding new qualifying events.
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed.
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. This amendment has been executed this _________________ day of ______________________________, ________. Name of Employer: America’s Car-Mart, Inc. By: _________________________________________ EMPLOYER Name of Plan: Colonial Auto Finance, Inc. 401(k) Plan
New distributable event. A participants elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. Addendum to EGTRRA Amendment to the Prudential Retirement Services Defined Contribution Plan and Trust The following should be added to item 2.4 of the EGTRRA Amendment to the Prudential Retirement Services Defined Contribution Plan and Trust: Employer Matching Contributions. The plan permits Employer Matching Contributions for catch-up contributions (Article VI of EGTRRA Amendment) unless the option below is elected. [ ] The plan does not permit Employer Matching Contributions for catch-up contributions to be made. Except with respect to any election made to the above, this amendment is hereby adopted by the prototype sponsor on behalf of all adopting employers on January 1, 2002. Sponsor Name: Prudential Retirement Services By:_______________________ This amendment has been executed this 19th day of July, 2007. Name of Employer: National Penn Bancshares, Inc. By:___________ /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇________________ EMPLOYER Name of Plan: National Penn Bancshares, Inc. Capital Accumulation Plan
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation front service before such amounts may be distributed. This amendment has been executed this 1st day of January, 2008. Name of Plan: THE J. ▇▇▇▇ GROUP 401(k) PLAN Name of Employer: The Talbots Group, LP By: /s/ ▇▇▇▇ ▇▇▇▇▇, III Name of Participating Employer: J. ▇▇▇▇, LLC By: /s/ ▇▇▇▇ ▇▇▇▇▇, III
New distributable event. A participant’s elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant’s severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. This amendment has been executed this ____________ day of ________________________, _________. Name of Plan: Lexington State Bank Employees’ 401(k) Plan Name of Employer: Lexington State Bank By: Name of Participating Employer: LSB Investment Services, Inc. By: Name of Participating Employer: Peoples Finance Company of Lexington, Inc. By:
New distributable event. A participant's elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the participant's severance from employment. However, such a distribution shall be subject to the other provisions of the plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. Except with respect to any election made by the employer in Article II, this amendment is hereby adopted by the prototype sponsor on behalf of all adopting employers on: [SPONSOR'S SIGNATURE AND ADOPTION DATE ARE ON FILE WITH SPONSOR] NOTE: THE EMPLOYER ONLY NEEDS TO EXECUTE THIS AMENDMENT IF AN ELECTION HAS BEEN MADE IN ARTICLE II OF THIS AMENDMENT. This amendment has been executed this _________________ day of ______________________________, ________. Name of Employer: ▇▇▇▇▇ Corporation ------------------------------ By: ____________________________________________ EMPLOYER Name of Plan: ▇▇▇▇▇ Corporation 401(k) Retirement Plan ------------------------------------------- 401(A)(9) MODEL AMENDMENT TO THE ▇▇▇▇▇ CORPORATION 401(K) RETIREMENT PLAN MINIMUM DISTRIBUTION REQUIREMENTS AMENDMENT
New distributable event. A Participant's elective deferrals, qualified nonelective contributions, qualified matching contributions, and earnings attributable to these contributions shall be distributed on account of the Participant's severance from employment. However, such a distribution shall be subject to the other provisions of the Plan regarding distributions, other than provisions that require a separation from service before such amounts may be distributed. This Section, DISTRIBUTION UPON SEVERANCE FROM EMPLOYMENT, shall apply for distributions after December 31, 2001, regardless of when the severance from employment occurred.