Sunoco 2015 Annual Report Download - page 163

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PAGE 8
that the total payment under this. Section 5.03 (a) shall not exceed the aggregate of the FICA
Amount and the income tax withholding related to such FICA Amount;
(b) Where a distribution, in a single lump sum payment, of all or a portion of
the Participant's Account is permitted under any other circumstance described under
Treasury Regulation Section l.409A-3(j)(4) (except in connection with a qualified domestic
relations order) or any successor regulation thereto or prescribed by the Commissioner of
Internal Revenue in generally applicable guidance published in the Internal Revenue
Bulletin; and
(c) The Administrative Committee may direct, in its discretion, that the balance
of each Participant's Account(s) under the Plan be distributed in connection with a
termination of the Plan in accordance with Section 7.02. Any distribution to be made pursuant
to this Section 5.03 shall be made as soon as administratively practicable following the
determination that such distribution should be made.
Section 5.04 Withholding of Taxes. Notwithstanding any other provision of this Plan, the
Employer shall withhold from payments made hereunder any amounts required to be so withheld
by any applicable law or regulation.
Section 5.05 As soon as administratively practicable. For purposes of this Article V, "as
soon as administratively practicable" means a date of distribution that is as soon as administratively
practicable as determined by the Administrative Committee following the specified payment date,
but in no event later than 90 days after the specified payment date. In no event shall a Participant
or his Beneficiary be permitted to designate the taxable year of the payment.
ARTICLE VI
BENEFICIARY DESIGNATION
Section 6.01 Beneficiary Designation. Each Participant shall have the right, at any time,
to designate any person, persons or entity as his Beneficiary or Beneficiaries. A Beneficiary
designation shall be made, and may be amended, by the Participant by filing a written designation
with the Administrative Committee, on such form and in accordance with such procedures as the
Administrative Committee shall establish from time to time.
Section 6.02 No Beneficiary Designation. If a Participant fails to designate a Beneficiary
as provided above, or if all designated Beneficiaries predecease the Participant, then the Participant's
Beneficiary shall be deemed to be the Participant's estate.
ARTICLE VII
AMENDMENT AND TERMINATION OF PLAN