Involuntary Cashouts x If the Participant’s vested Account at the time of his Separation from Service does not exceed $50,000 distribution of the vested Account shall automatically be made in the form of a single lump sum in accordance with Section 9.5 of the Plan. ¨ There are no involuntary cashouts.
Involuntary Cashouts. ☒ If the Participant’s vested Account at the time of his Separation from Service does not exceed $25,000 (insert dollar amount) distribution of the vested Account shall automatically be made in the form of a single lump sum in accordance with Section 9.5 of the Plan. Such distribution shall occur in accordance with Section 6.01(a)(i)(B) of the Plan. If the Participant’s vested Account at the time of his Separation from Service exceeds $25,000 (insert dollar amount) and the Participant has not made an election under Section 6.01(b), then distribution of the vested Account shall automatically be made in the form of a single Jump sum. Such distribution shall occur in accordance with Section 6.01(a)(i)(B) of the Plan. ☐ There are no involuntary cashouts.
Involuntary Cashouts. (Leave blank if not applicable)
(i) [ ] If the Participant's vested Account at the time of his Separation from Service does not exceed $_______________ (insert dollar amount) distribution of the vested Account shall automatically be made in the form of a single lump sum as soon as administratively practicable but in no event later than 60 days after the Separation of Service.
Involuntary Cashouts. ☒ If the Participant’s vested Account at the time his Account becomes payable does not exceed $50,000 distribution of the vested Account shall automatically be made in the form of a single lump sum at the time the first payment of such Account would have otherwise been paid in accordance with Section 9.5 of the Plan. ☒ If the Participant’s total balance in his Account, in addition to the Participant’s balances and accounts under any other agreements, methods, programs or other arrangements with respect to which deferrals of compensation are treated as having been deferred under a single nonqualified deferred compensation plan with the Plan under Treasury Regulation Section 1.409A-1(c)(2) (the “Aggregate Account Balance”), is less than the applicable dollar amount under Section 402(g)(1)(B) of the Internal Revenue Code, then SITE Centers Corp. may, in the discretion of the Compensation Committee of the Board of Directors of SITE Centers Corp. or any Executive Vice President acting on behalf of SITE Centers Corp., pay the Participant’s entire Aggregate Account Balance in an immediate lump sum in accordance with Section 409A of the Internal Revenue Code. Any such exercise of discretion shall be evidenced in writing not later than the date of payment. In no event will a Participant have discretion to determine whether his or her Aggregate Account Balance will be paid in an immediate lump sum pursuant to this Section 6.01(e). ☐ There are no involuntary cashouts.
