eTrade 2009 Annual Report Download - page 216

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request is approved. Such a distribution shall affect and reduce the Participant’s Deferral Account.
(b) Domestic Relations Order. The Committee is authorized, in its sole discretion, to satisfy any payments to an individual
other than the Participant with amounts from the Participant’s Deferral Account to the extent necessary to comply with a
domestic relations order, as defined in Code section 414(p)(1)(B). Unless otherwise specified in the domestic relations
order, payments will occur at the time and in the form specified by this Plan and the Participant’s elections.
(c) Compliance with Ethics Laws or Conflicts of Interests Laws. The Committee is authorized, in its sole discretion, to
accelerate the time or schedule of a payment to the extent necessary to avoid the violation of any applicable Federal, state,
local, or foreign ethics law or conflicts of interest law as provided in Treasury Regulation section 1.409A-3(j)(4)(iii)(B).
(d) Small Accounts. The Committee may, in its sole discretion, distribute in a single lump sum the Participant’s Elective
Deferral Account provided: (i) the payment results in the payment of the Participant’s entire interest in the Plan and all
other arrangements required to be aggregated with the Plan under Code Section 409A (generally other arrangements
providing for nonqualified elective deferrals), (ii) the total payments do not exceed the applicable dollar limit under Code
Section 402(g)(1)(B) and (iii) Participant has not elected to defer any amounts into the Plan for at least two (2) consecutive
Plan Years. The Committee shall notify the Participant in writing if the Committee exercises its discretion pursuant to this
Section.
(e) Settlement of a Bona Fide Dispute. The Committee is authorized, in its sole discretion, to accelerate the time or schedule
of a payment as part of a settlement of a bona fide dispute between the Participant and the Employer over the Participant’s
right to a payment provided that the payment relates only to the deferred compensation in dispute and the Employer is not
experiencing a downturn in financial health.
(f) Settlement of Debt. The Committee is authorized, in its sole discretion, to accelerate the time or schedule of a payment to
satisfy an ordinary debt owed by the Participant to the Employer at the time the debt becomes due as provided in Treasury
Regulation section 1.409A-3(j)(4)(xiii).
4.4 Pa
y
ment Dela
y
s. The Committee is authorized, in its sole discretion, to delay payment to a Participant:
(a) If the payment would jeopardize the Employer’s ability to continue as a going concern;
(b) If the payment is subject to the Deduction Limitation;