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<br /> ycb'3 of tile Sdrwwng S~U~.'S doa~ .. NoJ~,lhsla~cmg the
<br /> go r,g. such Benehc~ary may elecl to conhnue Ihe paymeql
<br /> [~, e~:j~e mi p;.ymc, nt ha5 commenced to the PaE,opan( (o? Io
<br />
<br /> ncr e~:(,ng,rl~ beyond 1) Ihe itfe expectancy of the P~,c,pa~l.
<br /> 2) thc- jcm, t hie expectancy of ina Pamc~pa-,t ant
<br /> sSt.se ~f toothed, or 3) the hfe e~peclancyoflhesu~'~vmg
<br />
<br />9.03 OuaHhedBeneficiaW.Whejherbenefitpaymentshavecom-
<br /> m~:ed or not, ~f a Oualifl~ BeneJ~c~a~ commences Io r~e~ve
<br /> :.s?,buhon w~lhm one yea' of lhe death of [he Pad~c,pa~t
<br /> the Pad~clpanl's suriwmg s~use, if applicable, then d;stnbu-
<br /> her, may be made over a per,od which is not longer than the
<br /> ~rtgter of:
<br />
<br /> ~a} Fwe years a~er lhe de,th of the Pa~icipanl Or hisser sur-
<br /> ~i'¢~r,g spoase, if apghcab;e, or
<br />
<br /> (b} The I,fe expectancy of an individual w/Ih an age equal
<br /> ¢:e age of the Padic;pant or hi~her surviving s~use, il
<br /> 8pphcable. at the ~ime of death.
<br />
<br /> ~2~,.~c~z%g~pg lhe Joregoin~. a Ou~,ff~ed Ber, e~oa~ who
<br /> uncer the age of 22 a~ the time of the death of the Padicipanl
<br /> or h~s. her Suwwing s~use, if ~pplicable, n~d not commence
<br /> d;s:r:pudon prior to attammem of age 22. Fudher, if the
<br /> Ou~ '~.~d Benef;ciapy is pe'maneni:y and tmaHy
<br /> C~str,Dufic~ may be made ave, a peri¢ which is not
<br /> than the greater of 1) Jne period described m subsections
<br />
<br /> · anb {t) dj this Sect:on 9.03 or 2) the life exp~tancy of the
<br />
<br /> If the d;stqbution does not commence within one year of
<br /> coach of the Panic,pant or h~s/her sUn'lviqg s~use, if
<br /> p~icpb;c lor m the case at a QJahfied Benef,c;~w under age
<br /> 22. w4%:% one year of his/her attainment of age ~L then tne
<br /> c rE:nbuuon shall De made within five years of the death of the
<br /> F~q:g:pant or h,slhe- sup¢lvJ~g s~us8, if appi~cable (or in the
<br /> cas4 oia Cualif.ec 8enefic;sW under age ~. ~,n five years
<br /> of ,,is:her a:[a,nmenl of age 22).
<br />
<br /> b~,.es3 :he Benef,c~a-/e:ects otnc~'ise, such di~ddut;cn sha~l
<br /> be ~.&:6 ar, t lures sdm on the 8st day of the ca:enda' momh
<br /> tmm~is:e:y prec¢ir, g the reau::~ dis~rib~:on da~e. This Sec-
<br /> l.cr 9.C3 sh~'l be ,napplicabie unless Section *Z,!(a)(9~ at the
<br /> Cc.:e ,s ~me~ced to permit lhe prowsions se: fo~h harem.
<br /> Us,ess asd unhl such amendments are made. Sections 9.01
<br /> a~ 9 02 of the Pian sh&il ~pply as if no Benefm~ were
<br /> Ods:~f.ed Beqeficiar/
<br />
<br />9,04 Su~ivir, g Spouse. ~. suwiving spouse of a Padicipa~t rosy
<br /> E:ec: tc commence b. nee:is as provided in Ap,cie V!IL as
<br /> ?c:,~ ~.e,'sne were the Pa~cipant. and may eeect to have
<br /> ~e-;~i;:s c:s'.r~buied in any maqner prowded for in Ad/cie X.
<br /> F:r F'- :3sos of this Sect;er, 9.~, a su~ing s~us8 is a
<br /> ~e*ef.- }'i who was roamed to t~ Pa~icipant on the date
<br /> cf the FaqJc;pan['s death.
<br />
<br />X. h',O~.~E-c OF P STRIBUTIOf, OF BENEFITS
<br />
<br /> 1,3.(,~ ';o:-~z! !,lode of Distribution. A Participant who is entitled
<br /> to 8 d ~.'.:~bution pursuant to Sections 6.01 or 8.02 of the P;an
<br /> cr who ~s reqmred to 'eceive a d[str,bution pursuam to Sec-
<br /> ban 8 04 cf the Plan, shall receive apprcximalety equal
<br /> F. ayments over the life expeclancy of the Participant, or if mar-
<br />
<br /> n~c,d, of d,tt' ~ .' :.' ~5prov~ded~n SOct,('r~ l0 OPal the
<br />
<br />10.02 [loci/va M( e ~ Distribution. A ~ad~c~p;,,,t may r(v%&~ .
<br /> el(.cl 1o hdv( h:: r.e' accounts dJsl:~buted m any one of
<br /> lo;lowing
<br />
<br /> Equal Pay- e-,ts /cua~ monthly, qua~.rty Semm-a~nu~
<br /> Or 8~u8' [afmcnls m an 8mOunl chosPq by the Pan,2 -
<br /> panl COn'.,r~ ag unhl the 8ccounls 8re exhausted
<br />
<br /> (b) Lump S(~ A Idmp sum payment
<br />
<br /> Period Ce~ ~ AFprox~mateiy equal mor~h:y
<br /> sem~.am~.8 c'annualpaymenls. C81cula'~gJo
<br /> tar a ¢e':cc :~18;n chosen by the Pad C,P~.ql
<br />
<br /> (d} Ret,rcm(-" 4n~u'b' A pad of or the ent.,e
<br /> bo;an, cas g:2 ec tc purchase a stogie premium 8r,r.~
<br /> conlracl ~'. st Shah be d~sttJbuted lo the Pan~c~par:
<br /> joint and s~-v,vor Anndlty shall be one of lhe
<br /> options prcv.c~ under any such contract.
<br />
<br /> (e) ~her. Any Cthe' sequenced/payments recuested ~y
<br /> Pa~cipan: and agreed to by the Plan AcmJmstra:c,
<br />
<br />10.03 Qualified Joint and Su~ivor Annuity Contract.
<br />
<br /> (8) If a Pan;~;zm who has an eligible Spouse requests
<br /> distribution ~nCer the Plan in the form of a life annu~tr
<br /> contract o~ cr a~er the firs~ day of the month in what-
<br /> he/she a~ % age 55. then such contram sh~',l be a Qua
<br /> if:ed Jo,nt z-c Sd~fvor Annuity
<br />
<br /> (b) A Padic,~en[ may elect, at any time pr,er to the co~--
<br /> mencement cf distributions under the Plan. not to
<br /> the prows-g% at sub--ion (c of this Sechon 10 03
<br /> Sdch ar. ~::?n must be made in w,;t;ng and ~[6d ~t
<br /> the Empac:e-. The Employer shall pre v:ce the
<br /> At least 123 months prior to h~her attainment of Ncrm~
<br /> Retirement Age or, if later, on or about the date
<br /> becomes 8 P8%~cip~*t in the Ptan, with & written notif,:8.
<br /> t~on, Jn nontechnical terms, generaily explaining the terms
<br /> end cond~t4, ns cf the Oualifi¢ Joint and Sub/var Annu;Ty
<br /> contract, the arc,lability of Ihe e~tion. 8nd the f;nenCJZ:
<br /> effcct of ar e;ection, with fu~her details 8,ahar e
<br /> wri~en roe;est. The notification may be g~ven: y
<br /> a genera~ notice. The Pa~icipant shall have 8: least
<br /> days after race:ring the wri~en explanation in which
<br /> make an e:ec::on Or request fuAher details. ~nd. if
<br /> de:si!s are 'accosted. he/she shah have an
<br /> 90 days ate' such aa:a/is are provided m which to
<br /> an elect;c-
<br />
<br /> An eiectior, cescribed above may be revoked in
<br /> by a Penm :sqt At any time prior to the commencement
<br /> of distrJbut;?s un,er the Plan. After such an elect;or:
<br /> revoked, a%-cther e~ection -nay be mede et any time
<br /> to the commen:ement of 6istrib¢ions.
<br />
<br /> (c) Notw!th~8%:n~ the foregoing provisions, a Ouaiified
<br /> and Survwc-- A%nuiW ~ntract may provide [hAt ~
<br /> spouse [o v.%om annuity benefits sro 0the~wise payable
<br /> under subsect~or, (a) cf this Section 10.03 may e~ec~
<br /> have boner, ts p8:C in any other form permuted u~der
<br /> t/on 10.02 cf the P',aq. At the written request of such
<br /> su~iving s3:~se, the Employer will furmsh such spouse.
<br /> within a re~sonable time a~er the request, with a written
<br /> explanation, in nont~hnicaf language, of the sue'/var
<br /> nutty and a~ other form of payment that may be select~
<br /> This expia~:.on w,il at~te the financial e~ect of each form
<br /> Of paymem
<br />
<br />10.04 Election of Mode. A PaA~cipa~t's election of a payment
<br /> tion must be m~:e at least 30 days belore the payment of
<br /> boner;is is to commence.
<br />
<br />
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