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

Change in Form or Timing of Distributions. Any change to the form or timing of distributions hereunder shall be considered made only when it becomes irrevocable under the terms of WashingtonFirst Bank Supplemental Executive Retirement Agreement the Agreement. Any change will be considered irrevocable not later than thirty (30) days following acceptance of the change by the Plan Administrator and must comply with the following rules: (a) The change may not accelerate the time or schedule of any distribution, except as provided in Code Section 1.409A-3(j)(4); (b) The subsequent deferral election may not take effect until at least twelve (12) months after the date on which the election is made; (c) The payment (except in the case of death, Disability, or Unforeseeable Emergency) upon which the subsequent deferral election is made is deferred for a period of not less than five (5) years from the date such payment would otherwise have been paid; and (d) In the case of a payment made at a specified time, the election must be made not less than twelve (12) months before the date the payment is scheduled to be paid.

Change in Form or Timing of Distributions. Any change to the form or timing of distributions hereunder shall be considered made only when it becomes irrevocable under the terms of WashingtonFirst Bank Supplemental Executive Retirement Agreement the Agreement. Any change will be considered irrevocable not later than thirty (30) days following acceptance of the change by the Plan Administrator and must comply with the following rules: (a1) The change may not accelerate the time or schedule of any distribution, except as provided in Code Section 1.409A-3(j)(4); (b2) The subsequent deferral election may not take effect until at least twelve (12) months after the date on which the election is made; (c3) The payment (except in the case of death, Disability, or Unforeseeable Emergency) upon which the subsequent deferral election is made is deferred for a period of not less than five (5) years from the date such payment would otherwise have been paid; and (d4) In the case of a payment made at a specified time, the election must be made not less than twelve (12) months before the date the payment is scheduled to be paid.. PLUMAS BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

Change in Form or Timing of Distributions. Any change to the form or timing of distributions hereunder shall be considered made only when it becomes irrevocable under the terms of WashingtonFirst Bank Supplemental Executive Retirement Agreement the Agreement. Any change will be considered irrevocable not later than thirty (30) days following acceptance of the change by the Plan Administrator and must comply with the following rules: (a1) The change may not accelerate the time or schedule of any distribution, except as provided in Code Section 1.409A-3(j)(4); (b2) The subsequent deferral election may not take effect until at least twelve (12) months after the date on which the election is made; (c3) The payment (except in the case of death, Disability, or Unforeseeable Emergency) upon which the subsequent deferral election is made is deferred for a period of not less than five (5) years from the date such payment would otherwise have been paid; and (d4) In the case of a payment made at a specified time, the election must be made not less than twelve (12) months before the date the payment is scheduled to be paid.

Change in Form or Timing of Distributions. Any change to the form or timing of distributions hereunder shall be considered made only when it becomes irrevocable under the terms of WashingtonFirst Bank Supplemental Executive Retirement Agreement the Agreement. Any change will be considered irrevocable not later than thirty (30) days following acceptance of the change by the Plan Administrator and must comply with the following rules: (a) The change may not accelerate the time or schedule of any distribution, except as provided in Code Section 1.409A-3(j)(4); (b) The subsequent deferral election may not take effect until at least twelve (12) months after the date on which the election is made; (c) The payment (except in the case of death, Disability, or Unforeseeable Emergency) upon which the subsequent deferral election is made is deferred for a period of not less than five (5) years from the date such payment would otherwise have been paid; and (d) In the case of a payment made at a specified time, the election must be made not less than twelve (12) months before the date the payment is scheduled to be paid.