Limited Cashout. Notwithstanding any provision of this Agreement to the contrary, if at the time benefits become distributable to the Employee hereunder, the Deferral Account balance is not greater than the applicable dollar amount under Code Section 402(g)(1)(B), the Bank shall pay the entire Deferral Account balance to the Employee in a lump sum within thirty (30) days following the event which caused benefits to become payable hereunder, provided that such payment must result in the termination and liquidation of the entirety of the Employee’s interest under the Agreement and under any other arrangements which are treated as if they were a single plan under Treasury Regulations Section 1.409a-1(c)(2).
Limited Cashout. Notwithstanding anything in this Section 6.00 to the contrary, the Corporation, in its sole discretion, may make a lump sum distribution of a Member’s Account under the Plan if: (a) the distribution results in the termination and liquidation of the entirety of the Member’s interest under the Plan and all 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 under Treasury Regulation §1.409A-1(c)(2); and (b) the aggregate distribution under the arrangements is not greater than the applicable dollar amount under Code §402(g)(1)(B).
