Common use of Plan Terminations Under Code Section 409A Clause in Contracts

Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, the Bank may, in its discretion, elect to terminate the Agreement in any of the following three circumstances and distribute the Account Value, determined as of the date of the termination of this Agreement, to the Executive in a lump sum as set forth below, provided that in each case the action taken complies with the applicable requirements set forth in Treasury Regulation §1.409A-3(j)(4)(ix):

Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, the Bank maymay terminate this Agreement pursuant to and in accordance with Treasury Regulation Section 1.409A-3(j)(4)(ix) (or any successor provision) and, in its discretionupon such termination, elect to terminate the Agreement in any of the following three circumstances and Bank may distribute the Account ValueAccrual Balance (as described in Schedule A), determined as of the date of the termination of this Agreement, to the Executive in a lump sum as set forth below, provided that in each case the action taken complies with the applicable requirements set forth in Treasury Regulation §1.409A-3(j)(4)(ix):sum.

Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, the Bank may, in its discretion, elect to terminate the Agreement in any of the following three circumstances and distribute the Account ValueAccrual Balance, determined as of the date of the termination of this Agreement, to the Executive in a lump sum as set forth below, provided that in each case the action taken complies with the applicable requirements set forth in Treasury Regulation §1.409A-3(j)(4)(ix):

Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, the Bank maymay terminate this Agreement pursuant to and in accordance with Treasury Regulation Section 1.409A-3(j)(4)(ix) (or any successor provision) and, in its discretionupon such termination, elect to terminate the Agreement in any of the following three circumstances and Bank may distribute the Account ValueAccrual Balance (as described in Exhibit A), determined as of the date of the termination of this Agreement, to the Executive in a lump sum as set forth below, provided that in each case the action taken complies with the applicable requirements set forth in Treasury Regulation §1.409A-3(j)(4)(ix):sum.