Page 9 - Latham & Watkins 401(k) Savings and Profit Sharing Plan

Termination of Employment
You are eligible to receive a distribution of your vested account balance in the 401(k) Plan when you terminate employment. Please note: If your vested account balance upon termination, or at any point thereafter, is $1,000 or less, including rollovers, your account balance will be distributed to you in cash if you do not make a distribution election. If your vested account balance is between $1,000 and $5,000 and you do not make a distribution election, your account will be rolled over to a Charles Schwab Trust Bank Automatic Rollover IRA.
For purposes of determining what portion of your account is distributed in cash and what portion
is rolled over to a Charles Schwab Trust Bank Automatic Rollover IRA, your pre-tax account balance and your Roth 401(k) account balance are treated as separate accounts.
If your total vested account balance is greater than $5,000 including rollovers, you have the right to leave your entire account balance in the 401(k) Plan until you elect to take a distribution.
Disability
If you terminate your employment with Latham because you become permanently disabled, you are allowed to withdraw your account balance from the 401(k) Plan.
Death
In the event of your death, your account balance will be paid to your beneficiaries. Please make certain that you have completed the online beneficiary designation information and that you review it on a regular basis to determine if it needs to be updated.
For more information about your withdrawal options, call Participant Services at +1.800.724.7526.
This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, financial planner, or investment manager.
FDIC Coverage: Rollover funds in the Charles Schwab Trust Bank Automatic Rollover IRA are deposited in a Federal Deposit Insurance Corporation (FDIC) insured money market deposit account at Charles Schwab Trust Bank. You may also hold deposits at one or more banks that are affiliated with Charles Schwab Trust Bank (Charles Schwab Bank and Charles Schwab Premier Bank, collectively the “Affiliated Banks”). Funds deposited at Affiliated Banks are eligible for FDIC insurance, in aggregate, up to $250,000 per Affiliated Bank, based on account ownership category, such as individual retirement accounts or self-directed employee benefit plans (e.g. Schwab Personal Choice Retirement Account®). You are responsible for monitoring the total amount of deposits you hold with
the Affiliated Banks. Because the deposit insurance rules are complex, you may want to use the FDIC’s online tool Electronic Deposit Insurance Estimator (www.fdic.gov/edie) to estimate your total coverage.
Investment Products: Not FDIC-Insured - No Bank Guarantee - May Lose Value
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