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UA » Topics » Disability Waiver and Benefit

These excerpts taken from the UA 10-K filed Feb 22, 2008.

Disability Waiver and Benefit

 

8.1 Disability Waiver.

 

18

  (a) Cancellation of Deferral. Subject to Section 409A, if it is determined that a Participant is suffering from a Disability, such Participant’s deferrals shall thereupon be cancelled.

 

  (b) Return to Work. If a Participant returns to employment with the Company, after a Disability ceases, the Participant may elect to defer an Annual Deferral Amount for the Plan Year following his or her return to employment and for every Plan Year thereafter while a Participant in the Plan, provided such deferral elections are otherwise allowed and an Election Form is delivered to and accepted by the Administrator for each such election in accordance with Section 3.3 above.

 

8.2 Disability Benefit/Payment of Disability Benefit. A Participant shall receive a Disability Benefit equal to the Participant’s entire Account Balance if the Participant suffers a Disability prior to his or her Retirement, Termination of Employment or death. In the case of a Participant who is otherwise eligible to Retire at the time of his or her Disability, the Disability Benefit shall be paid in a lump sum and/or in installments in accordance with Section 5.2, and in the case of a Participant who is not otherwise eligible to Retire at the time of his or her Disability, the Disability Benefit shall be paid in a lump sum in accordance with Section 7.2; provided that, in either case, payment shall be made (or shall commence, if appropriate) within sixty (60) days following the date on which the Participant is determined by the Administrator to be suffering from a Disability. Any payment made hereunder shall be subject to Section 3.11, but shall not be subject to the Deduction Limitation.

Disability Waiver and
Benefit

 





8.1Disability Waiver.

 


18












 (a)Cancellation of Deferral. Subject to Section 409A, if it is determined that a Participant is suffering from a Disability, such Participant’s deferrals shall
thereupon be cancelled.

 






 (b)Return to Work. If a Participant returns to employment with the Company, after a Disability ceases, the Participant may elect to defer an Annual Deferral Amount for the Plan
Year following his or her return to employment and for every Plan Year thereafter while a Participant in the Plan, provided such deferral elections are otherwise allowed and an Election Form is delivered to and accepted by the Administrator for each
such election in accordance with Section 3.3 above.

 





8.2Disability Benefit/Payment of Disability Benefit. A Participant shall receive a Disability Benefit equal to the Participant’s entire Account Balance if the Participant
suffers a Disability prior to his or her Retirement, Termination of Employment or death. In the case of a Participant who is otherwise eligible to Retire at the time of his or her Disability, the Disability Benefit shall be paid in a lump sum and/or
in installments in accordance with Section 5.2, and in the case of a Participant who is not otherwise eligible to Retire at the time of his or her Disability, the Disability Benefit shall be paid in a lump sum in accordance with
Section 7.2; provided that, in either case, payment shall be made (or shall commence, if appropriate) within sixty (60) days following the date on which the Participant is determined by the Administrator to be suffering from a Disability.
Any payment made hereunder shall be subject to Section 3.11, but shall not be subject to the Deduction Limitation.

SIZE="2">ARTICLE 9

This excerpt taken from the UA 10-Q filed Aug 8, 2007.

Disability Waiver and Benefit

 

8.1 Disability Waiver.

 

  (a) Cancellation of Deferral. Subject to Section 409A, if it is determined that a Participant is suffering from a Disability, such Participant’s deferrals shall thereupon be cancelled.

 

  (b) Return to Work. If a Participant returns to employment with the Company, after a Disability ceases, the Participant may elect to defer an Annual Deferral Amount for the Plan Year following his or her return to employment and for every Plan Year thereafter while a Participant in the Plan, provided such deferral elections are otherwise allowed and an Election Form is delivered to and accepted by the Administrator for each such election in accordance with Section 3.3 above.

 

8.2 Disability Benefit/Payment of Disability Benefit. A Participant shall receive a Disability Benefit equal to the Participant’s entire Account Balance if the Participant suffers a Disability prior to his or her Retirement, Termination of Employment or death. In the case of a Participant who is otherwise eligible to Retire at the time of his or her Disability, the Disability Benefit shall be paid in a lump sum and/or in installments in accordance with Section 5.2, and in the case of a Participant who is not otherwise eligible to Retire at the time of his or her Disability, the Disability Benefit shall be paid in a lump sum in accordance with Section 7.2; provided that, in either case, payment shall be made (or shall commence, if appropriate) as soon as practicable following the date on which the Participant is determined by the Administrator to be suffering from a Disability. Any payment made hereunder shall be subject to Section 3.11, but shall not be subject to the Deduction Limitation.

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 22, 2008
10-Q
Aug 8, 2007

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