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GWW » Topics » Hardship

These excerpts taken from the GWW 10-K filed Feb 27, 2008.
Hardship” shall mean an unforeseeable emergency that is a severe financial hardship of the Participant resulting from (A) an illness or accident of the Participant, the Participant’s spouse or the Participant’s dependent (as defined in Code Section 152(a); (B) loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance, for example, as a result of a nature disaster); or (C) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. An occurrence or event will not be determined to be a Hardship to the extent that such hardship is or may be relieved: (i) through reimbursement or compensation by insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent liquidation of such assets would not itself cause severe financial hardship.

Hardship” shall mean an unforeseeable emergency that is a severe financial hardship of the Participant resulting from (A) an illness or accident of the Participant, the Participant’s spouse or the Participant’s dependent (as defined in Code Section 152(a); (B) loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance, for example, as a result of a nature disaster); or (C) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. An occurrence or event will not be determined to be a Hardship to the extent that such hardship is or may be relieved: (i) through reimbursement or compensation by insurance or otherwise,
or (ii) by liquidation of the Participant’s assets, to the extent liquidation of such assets would not itself cause severe financial hardship.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008

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