UNFORESEEABLE EMERGENCY WITHDRAWALS. Participant withdrawals for unforeseeable emergency prior to termination of employment (check one):
UNFORESEEABLE EMERGENCY WITHDRAWALS. Notwithstanding anything herein to the contrary, a Participant may apply to the Administrator to withdraw some or all of his Account if such withdrawal is made on account of an Unforeseeable Emergency as determined by the Administrator in accordance with the requirements of and subject to the limitations provided in 26 CFR section 1.409A-3(i)(3).
UNFORESEEABLE EMERGENCY WITHDRAWALS. Subject to the provisions of Article 8, a Participant shall not be permitted to withdraw his Account (and earnings thereon) prior to retirement or termination of employment, except that, to the extent permitted under Section 1.09, a Participant may apply to the Administrator to withdraw some or all of his Account if such withdrawal is made on account of an unforeseeable emergency as determined by the Administrator in accordance with the requirements of and subject to the limitations provided within Code Section 409A and regulations thereunder.
UNFORESEEABLE EMERGENCY WITHDRAWALS. The BOARD authorizes the DEPARTMENT to instruct EMPOWER to process and either approve or deny, without DEPARTMENT signature, all unforeseeable emergency withdrawal requests received in good order, and in a manner satisfactory to EMPOWER, due to an unforeseeable emergency as described below resulting in a severe financial hardship to the PARTICIPANT or BENEFICIARY that cannot be alleviated by any other means available to the PARTICIPANT. EMPOWER agrees that this service will be performed without an additional cost to the BOARD. DEPARTMENT further instructs EMPOWER to rely on any and all representations made by a PARTICIPANT in an unforeseeable emergency withdrawal request, including, but not limited to:
UNFORESEEABLE EMERGENCY WITHDRAWALS. This Section shall apply only if selected by the Employer in the Adoption Agreement and if permitted by the Investment Products in which a Participant’s Account is invested. Notwithstanding Section 5.1, a Participant may request a withdrawal due to an Unforeseeable Emergency withdrawal by submitting that request, in writing on the Plan's approved form, to the Administrator. After considering all information provided by the Participant, the Administrator shall approve or deny the request. If the request is denied, the Participant may submit additional information for consideration by the Administrator no later than thirty (30) days after the date of the denial. The Administrator shall again review the information and make a final determination of the request for an Unforeseeable Emergency Withdrawal. If a request for an Unforeseeable Emergency withdrawal is approved, the Administrator shall direct the provider of the applicable Investment Products to distribute the approved amount from the Participant's Account. For purposes of this Section, “Unforeseeable Emergency” is defined in Section 457(d)(1)(A)(iii) of the Code and the regulations issued thereunder.
UNFORESEEABLE EMERGENCY WITHDRAWALS. If the Employer so elects in the Adoption Agreement, then in the event of an unforeseeable emergency, a Participant may apply to the Employer to receive that part of the value of his Account that is reasonably needed to satisfy the emergency need (including any amounts that may be necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution). If such application for withdrawal is approved by the Employer, the Employer shall direct the issuer, trustee or custodian to pay the Participant such value as the Employer deems necessary to meet the emergency need. The regulations under Section 457(d)(1)(A)(iii) of the Code define an unforeseeable emergency as a severe financial hardship of the Participant or Beneficiary resulting from an illness or accident of the Participant or Beneficiary, the Participant’s or Beneficiary’s spouse, or the Participant’s or Beneficiary’s dependent (as defined in Code Section 152, and, for taxable years beginning on or after January 1, 2005, without regard to Code Section 152(b)(1), (b)(2), and (d)(1)(B)); loss of the Participant’s or Beneficiary’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by homeowner’s insurance, e.g., as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant or Beneficiary. For example, the imminent foreclosure of or eviction from the Participant’s or Beneficiary’s primary residence may constitute an unforeseeable emergency. In addition, the need to pay for medical expenses, including non-refundable deductibles, as well as for the cost of prescription drug medication, may constitute an unforeseeable emergency. Finally, the need to pay for the funeral expenses of a spouse or a dependent (as defined in Code Section 152, and, for taxable years beginning on or after January 1, 2005, without regard to Code Section 152(b)(1), (b)(2), and (d)(1)(B)) of the Participant or Beneficiary may also constitute an unforeseeable emergency. Except as otherwise specifically provided in this Section 6.08, neither the purchase of a home nor the payment of college tuition is an unforeseeable emergency. A distribution on account of an unforeseeable emergency may not be made to the extent that such emergency is or may be relieved through reimbursement or compensation from insurance or otherwise, b...
UNFORESEEABLE EMERGENCY WITHDRAWALS. (a) The Committee may, pursuant to rules adopted by it and applied in a uniform manner to similarly situated executive employees, accelerate the date of distribution of all or any portion of the Employee’s Restricted Stock Unit Account, because of an unforeseeable emergency.
