Financial Hardship

Financial Hardship. Shall mean a "Financial Hardship" as defined in the Neuberger Berman Profit Sharing and Pension Plans.

Financial Hardship. Means an unanticipated emergency caused by an event which is beyond the Participant's control and which would result in severe financial hardship to the Participant.

Financial Hardship. Shall mean an unexpected and significant need for cash (which cannot be met reasonably and contemporaneously from other sources) arising from an illness, casualty loss, sudden financial reversal or other such unforeseeable occurrence as determined by the Committee in its sole discretion. Cash needs arising from foreseeable events or discretionary expenditures such as the purchase of a residence or education expenses for children shall not, alone, be... considered a Financial Hardship. View More

Financial Hardship. Means an unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe financial distress to the Participant resulting from (i) a sudden and unexpected illness or accident of the Participant or a dependent of the Participant (as defined in section 152(a) of the Code), (ii) a loss of the Participant's property due to casualty, or (iii) such other extraordinary and unforeseeable circumstances arising as a result of events beyond the control... of the Participant, all as determined in the sole discretion of the Committee. View More

Financial Hardship. Shall mean an "unforeseeable emergency" within the meaning of Section 409A(a)(2)(B)(ii) of the Code that (i) would result in severe financial hardship to the Participant if early withdrawal were not permitted and (ii) is caused by an event beyond the control of the Participant or beneficiary, such as (A) a severe financial hardship to the Participant caused by a sudden and unexpected illness or accident of the Participant or a dependent of the Participant (as defined in Code Section 152(a)), of... (B) a loss of the Participant's property due to casualty, where neither (A) nor (B) is reimbursed or reimbursable through insurance, or (C) other similar extraordinary and unforeseeable circumstances caused by 2 events beyond the Participant's control. Financial Hardship shall not include payment of college tuition or home purchases. View More

Financial Hardship. An immediate and heavy financial need of the Participant (including the Participant's spouse or other dependents) as determined by the Plan Administrator, in its sole and absolute discretion, which may include, but are not limited to, the following: (i) certain medical expenses; (ii) costs relating to the purchase of a principal residence; (iii) tuition and related educational fees and expenses; (iv) payments necessary to prevent eviction from, or foreclosure on, a principal residence; (v)... burial or funeral expenses; and (vi) certain expenses for the repair of damage to the Participant's principal residence. A financial need may be immediate and heavy even if it was reasonably foreseeable or voluntarily incurred by the Participant. View More

Financial Hardship. Within the meaning of Treasury Regulation 1.409A-3(i)(3) an unforeseeable financial emergency of the Participant determined by the Committee as provided in Section 4(b)(ii) on the basis of information supplied by the Participant, arising from an illness, casualty loss, sudden financial reversal or other such unforeseeable occurrence beyond the control of the Participant, but not including foreseeable events such as the purchase of a house or education expenses for children. The Participant... shall furnish the Committee, in writing and in reasonable detail, with the relevant facts and information, and the determination of the Committee as to whether a distribution is warranted pursuant to Section 4(b)(ii) and the amount of any such distribution shall be binding and conclusive. View More