Small Benefit. In the event the value of a Participant’s SAP Account is $5,000 or less at the time of such Participant’s Separation from Service, or the value of the balance of the Participant’s SAP Account payable to any Beneficiary is $5,000 or less at the time of the Participant’s death, the Company shall pay the benefit in the form of a lump sum, notwithstanding any provision of this Appendix, the Plan or a Participant’s election to the contrary.
Appears in 3 contracts
Sources: Supplemental Retirement Plan (Regal Rexnord Corp), Supplemental Retirement Plan (Regal Rexnord Corp), Supplemental Retirement Plan (Regal Rexnord Corp)