Compensation deferral. By way of example, an Eligible Employee who enrolls as a Participant in the Plan in September 2018 and who elects to defer base pay and bonus Compensation earned during 2018 may elect at that time that, should the Participant incur a Separation from Service with the Company, that portion of the Participants Account attributable to such Compensation deferrals shall be payable to the Participant in the form of ten (10) annual installments, in which case any Company Contribution Credits credited on behalf of the Participant for 2018 (i.e., credited in January 2019) shall also be subject to that distribution form.
If the whole or any part of a payment hereunder is to be in installments, the total to be so paid shall continue to be deemed to be invested pursuant to Article 4 under such procedures as the Administrator may establish, in which case any deemed income, gain, loss or expense or tax allocable thereto (as determined by the Administrator, in its discretion) shall be reflected in the installment payments, using such method for the calculation of the installments as the Administrator shall reasonably determine.
Any form of distribution election made hereunder may be revised, so long as such revised election (A) is made by the Participant at least twelve (12) months prior to the date on which the distribution is to be made (or commence), (B) results in a postponement of the distribution for at least five (5) full calendar years from the date the distribution would otherwise have been made (or commence), and (C) does not postpone any payment later than ten (10) years following the Participants Separation from Service. In no event may a change in a form of distribution election hereunder result in an acceleration of payments, and in no event may a Participant change an installment form of distribution election to a lump sum form of distribution election.
(ii) Elections Effective Before January 1, 2018. With respect to elections as to the timing and non-lump form of distribution that were effective before January 1, 2018, the terms of the Plan then in effect shall apply, which means (among other things) that, if a Participant becomes entitled to a distribution under this Plan because of his or her Separation from Service with the Company before attaining age 62, the sole form of distribution available to the Participant shall be a single lump sum payment of his or her entire vested Account.
6.3. ACCELERATIONS. Notwithstanding anything in the Plan to the contrary, the Administrator, in its discretion (without any direct or indirect election on the part of any Participant), may accelerate the date of distribution or commencement of distributions hereunder, or accelerate installment payments hereunder, to the extent permitted under Code section 409A (such as, for example, as provided in Section 1.409A-3(j)(4) of the Treasury regulations, to comply with domestic relations orders or certain conflict of interest rules, to pay employment taxes, to make a lump sum cashout of certain de minimus amounts that are less than the applicable dollar amount under Code Section 402(g)(1)(B), or to make payments upon income inclusion under Code section 409A).
6.4. DELAYS. If the Administrator reasonably anticipates that any payment scheduled to be made hereunder would violate securities laws (or other applicable laws) or jeopardize the ability of the Company to continue as a going concern if paid as scheduled, then the Administrator may defer that payment, provided the Administrator treats payments to all similarly situated Participants on a reasonably consistent basis. In addition, the Administrator