Definition of Pre-409A Account


Pre-409A Account means the portion of a Participants Account attributable to (i) the balance of the Participants Account that was earned and vested as of December 31, 2004, plus (ii) any contributions to the Account after December 31, 2004, the right to which was earned and vested as of December 31, 2004, to the extent such contributions are actually made.

Examples of Pre-409A Account in a sentence

Except as provided in subsection (b) hereof, the Pre-409A Account payable to a Participant under Section 6.1 shall be distributed in the form of a single-sum payment.
Each Account shall be subdivided into a Pre-409A Account and a Post-409A Account, which shall be separately accounted for under the Plan.
Notwithstanding any other provision of this Article VI to the contrary, a Participant may elect, at any time prior to termination of his employment with the Controlling Company and all of its Affiliates, to receive a distribution of a portion of the total of the entire vested amount credited to his Pre-409A Account, determined as of the Valuation Date on which such distribution is processed.
A Participant shall at all times be fully vested in his Pre-409A Account, and in the Deferred Compensation and the Investment Return credited to his 409A Account with respect to such Deferred Compensation.
Notwithstanding any other provision of this Article VI to the contrary, a Participant may elect, at any time prior to the distribution of his entire Pre-409A Account, to withdraw a portion of the remaining amount credited to his Pre-409A Account, determined as of the Valuation Date on which such distribution is processed.