Minimum Distribution. Notwithstanding any provision to the contrary, if the balance of a Participant’s Account at the time of a distribution event or at the time of a scheduled installment payment is $25,000 or less, then the Participant shall be paid his or her Account or sub-account as a single lump sum.
Appears in 5 contracts
Samples: Nonqualified Deferred Compensation Plan Agreement (Uwharrie Capital Corp), Nonqualified Deferred Compensation Plan (Uwharrie Capital Corp), Nonqualified Deferred Compensation Plan (Uwharrie Capital Corp)
