Examples of Unforeseeable Emergency in a sentence
A payment of a Participant’s vested interest in a Restricted Stock Award may, in the discretion of the Committee, be made in the event of a Participant’s Disability, upon the occurrence of a Change-in-Control or Unforeseeable Emergency (as defined below).
Unforeseeable Emergency (continued) Items to keep in mind to prevent your request from being delayed or denied: • If your unforeseeable emergency distribution is due to a legal dependent’s situation, we will require a copy of the qualified dependent worksheet to show dependency.
Please indicate your Federal Withholding Option: ⬜ 10% ⬜ Other (indicate percentage) % Please indicate your State Withholding Option (optional): ⬜ 10% ⬜ Other (indicate percentage) % I understand that the gross amount of the Unforeseeable Emergency Withdrawal will be calculated such that, after withholding taxes, the net amount will be as close to the amount approved as necessary to meet my financial hardship.
If at any time a request of an Unforeseeable Emergency withdrawal is approved, the Plan Administrator may thereupon distribute so much of the Account as is necessary to provide the amount approved to meet the Unforeseeable Emergency, as determined by the Plan Administrator.
On the reverse side of this letter are the requirements to meet an emergency withdrawal.Your Unforeseeable Emergency Application and the documentation submitted will be reviewed to determine if it meets IRC Section 457 and Plan requirements for a withdrawal.