Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, the Bank may, in its sole discretion, terminate this Agreement by unilateral action; provided that, if the Bank terminates this Agreement in accordance with Section 8.3, it shall do so in conformity with one of the following circumstances: (a) Upon the Bank’s dissolution or with the approval of a bankruptcy court, provided that all distributions are made no later than the end of the tax year in which the Executive is required to include any portion of the amounts deferred under the Agreement in his gross income; or (b) Upon the Bank’s termination of this and all other non-account balance plans (as referenced in Code Section 409A or the regulations thereunder), provided that all distributions are made no later than the end of the tax year in which the Executive, is required to include any portion of the amounts deferred under the Agreement in his gross income, and that the Bank does not adopt any new non-account balance plans for a minimum of five (5) years following the date of such termination; In which case, the Bank may distribute the Account Value, determined as of the date of the termination of the Agreement, to the Executive in a lump sum subject to the above terms.
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Samples: Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp), Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp), Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp)