Common use of Change in Form or Timing of Distributions Clause in Contracts

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Section 2.4, be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 23, the Executive Participant and the Bank may, subject to the terms of Section 8.19.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.13.1, 2.2 3.2 and 2.43.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.2 and 2.3, be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1 and 2.2, be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.17.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: amendment (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; ; (b) must, for benefits distributable under Section 2.2 be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.1, 2.2 2.2, and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank Company may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations there under; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.42.3, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution distributions of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the Regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, must be made at least twelve (12) months prior to the first scheduled distribution; (c) must delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive and the Bank may, subject to the terms of Section 8.110.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Section 4.2, be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.14.1, 2.2 4.2 and 2.44.3, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A409A and the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, must be made at least twelve (12) months prior to the first scheduled distribution; (c) must delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank Company may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the Regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, must be made at least twelve (12) months prior to the first scheduled distribution; (c) must delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must not take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3, and 2.4, 2.4 delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.42.3, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.. Rhinebeck Savings Bank New Director Fee Continuation Plan Agreement

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4Article 2, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is madeexecuted.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.42.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.42.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank Company may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, must be made at least twelve (12) months prior to any scheduled distribution; (c) must delay the commencement of any distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must not take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.42.3, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.. Ameriana Bank, SB Supplemental Retirement Plan

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change All changes in the form or timing of distributionsdistributions hereunder must comply with the following requirements. Any such amendmentThe changes: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A409A and the regulations thereunder; (b) must, for benefits distributable under Section 2.2 be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, 2.5 delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive and the Bank may, subject to the terms of Section 8.110.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.14.1, 2.2 4.2 and 2.44.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive Employee and the Bank may, subject to the terms of Section 8.110.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.14.1, 2.2 4.2, 4.3 and 2.44.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive and the Bank may, subject to the terms of Section 8.110.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.14.1, 2.2 4.2 and 2.44.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.. BANK’34 Deferred Compensation Agreement

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank Company may, subject to the terms of Section 8.19.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3, 2.4 and 2.42.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; andand Fairport Savings Bank Supplemental Executive Retirement Agreement (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; ; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.. New Director Fee Continuation Plan Agreement

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank may, subject to the terms of Section 8.17.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.Supplemental Executive Retirement Agreement

Change in Form or Timing of Distributions. For distribution of benefits under this Article 23, the Executive and the Bank Company may, subject to the terms of Section 8.19.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.13.1, 2.2 3.2 and 2.43.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank Company may, subject to the terms of Section 8.17.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A409A and the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.3, 2.4 and 2.42.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.. BANK OF THE SIERRA Salary Continuation Agreement

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.2, 2.3 2.4, and 2.5 delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendmentamendment shall be subject to approval by the Bank in its sole and absolute discretion and: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, except for benefits distributable under Sections 2.1Section 2.3, 2.2 and 2.4, must delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment:Agreement (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Section 2.4, be made at least twelve (12) months prior to the first scheduled distribution; (c) must, for benefits distributable under Sections 2.1, 2.2 and 2.2, 2.3, 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (cd) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive Employee and the Bank may, subject to the terms of Section 8.110.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.14.1, 2.2 4.2 and 2.44.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive and the Bank may, subject to the terms of Section 8.1, may amend this Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 4.1 and 2.44.2, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank Company may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A409A and the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the form of distributions. Any such amendmentamendment shall be subject to approval by the Bank in its sole and absolute discretion and: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, except for benefits distributable under Sections 2.1Section 2.2, 2.2 and 2.4, must delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.

Change in Form or Timing of Distributions. For distribution of benefits under this Article 2, the Executive Director and the Bank may, subject to the terms of Section 8.1, amend this this. Agreement to delay the timing or change the form of distributions. ; Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A; (b) must, for benefits distributable under Sections 2.1, 2.2 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.. BANK’34 Director Retirement Agreement

Change in Form or Timing of Distributions. For distribution of benefits under this Article 24, the Executive Director and the Bank may, subject to the terms of Section 8.1, amend this the Agreement to delay the timing or change the form of distributions. Any such amendment: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code Section 409Aand the regulations thereunder; (b) must, for benefits distributable under Sections 2.14.1, 2.2 4.2, 4.3 and 2.44.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the amendment is made.