eTrade 2009 Annual Report Download - page 214

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is less than $100,000, the Participant’s Deferral Account shall be distributed in a single lump sum.
(iii) Separation from Service on or after attaining age fifty-five (55) and five (5) Years of Service. In the event of a
Participant’s Separation from Service on or after attaining age fifty-five (55) and five (5) Years of Service, a
Participant’s Deferral Account shall be distributed in accordance with the Payment Option elected by the Participant
at the time of the deferral election. If a Participant does not elect a Payment Option in a timely manner, the
Participant’s Deferral Account shall be distributed in a single lump sum payment.
(iv) Disability. In the event of a Participant’s Disability, a Participant’s Deferral Account shall be distributed in a single
lump sum.
(v) Unforeseeable Emergency. A Participant may submit a written request for a distribution on account of an
Unforeseeable Emergency. Upon approval by the Committee of a Participant’s request, the Participant’s Deferral
Account, or that portion of a Participant’s Deferral Account deemed necessary by the Committee to satisfy the
Unforeseeable Emergency (such amount to be determined in a manner consistent with Treasury Regulations section
1.409A- 3(i)(3)) plus amounts necessary to pay taxes reasonably anticipated because of the distribution, shall be
distributed in a single lump sum.
(vi) Death. In the event of a Participant’s death, a Participant’s Deferral Account shall be paid to the Participant’s
Beneficiary in a lump sum.
(b) Timing. Payment of a Participant’s Deferral Account shall commence during the year that includes the Payment Date.
With respect to distributions in installments, each annual installment shall be paid during the year in which the installment
is due. If the Payment Date relating to an Unforeseeable Emergency occurs on or after October 1 of a Plan Year, the
distribution may, to the extent permitted by Code section 409A, commence on or before the 15 day of the third calendar
month following the date on which the Committee approved the Participant’s request for an Unforeseeable Emergency
distribution; provided, however, the Participant will not be permitted, directly or indirectly, to designate the taxable year of
the distribution.
(c) Distributions to Specified Employees. Notwithstanding anything to the contrary in the Plan, if a Participant becomes
entitled to a distribution on account of a Separation from Service and is a Specified Employee on the date of the Separation
from Service, to the extent required by Code section 409A(a)(2)(B)(i), distributions shall not commence until the later of
the Payment Date or the expiration of the six- month period beginning on the date of Participant’s Separation from Service,
except in the event of the Participan
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’s death. Payments to which a Specified Employee would otherwise be entitled
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