EMC 2011 Annual Report Download - page 115

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6.6. Payment or Cessation of Deferrals Upon Unforeseeable Emergency.
(a) General. A Participant is not generally entitled to a distribution of any portion of his or her Account before payments are otherwise due in
accordance with the Plan and any timely election made under the Plan. However, if a Participant has an unforeseeable emergency that results in a severe
financial hardship, the Administrator may authorize, on a nondiscriminatory basis, a cessation of deferrals under this Plan and/or a distribution from the
Participant's Elective Deferral Subaccount in the minimum amount required to meet the need created by the unforeseeable emergency (including any taxes or
penalties due as a result of the distribution). The distribution will be paid within seven (7) days after the Administrator determines that the unforeseeable
emergency exists under (b) below.
(b) Unforeseeable Emergency. An "unforeseeable emergency" is a severe financial hardship to the Participant resulting: (1) from an illness or
accident of the Participant or of the Participant's spouse, beneficiary, or dependent (as defined in Code section 152, without regard to section 152(b)(1), (b)(2),
and (d)(1)(B)); (2) from the loss of the Participant's property due to casualty (including the need to rebuild a home following damage to the home not
otherwise covered by insurance); or (3) from other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the Participant's
control (e.g., the imminent foreclosure of or eviction from the Participant's primary residence, the need to pay for medical expenses and prescription drugs or
funeral expenses of a spouse, beneficiary or dependent).
The Participant must supply written evidence of the financial hardship and must declare, under penalties of perjury, that the Participant has no
other resources available to meet the emergency. The Participant must also declare that the need cannot be met by any of the following: (1) reimbursement or
compensation by insurance or otherwise; (2) reasonable liquidation of the Participant's assets to the extent the liquidation will not itself cause severe financial
hardship; or (3) ceasing the Participant's deferrals under this Plan.
(c) Hardship Distribution Under 401(k) Plan. In the event a Participant receives a hardship distribution pursuant to the regulations under
section 401(k) of the Code, from the Company's 401(k) Plan, deferrals under this Plan shall cease for a period of six months.
6.7. Payments to a Participant Who is or was an Eligible Director and an Eligible Employee. Notwithstanding anything in this Article 6 to the
contrary, if payments are to be made from a Participant's Account and the Participant is or was both an Eligible Director and an Eligible Employee, then the
payments will be treated separately. Any payments attributable to the portion of the balance of the Participant's Account that is attributable to Compensation
earned by the Participant as an employee of the Company or any of its Subsidiaries will be paid in accordance with the provisions of this Article 6 applicable
to Participants who are not Eligible Directors. The portion of the balance of the Participant's Account attributable to Compensation earned by the Participant
for his or her service as an Eligible Director will be paid in accordance with the provisions of this Article 6 applicable to Participants who are Eligible
Directors.
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