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5.4 TERMINATION DISBURSEMENTS. On the Termination Disbursement Date, We will <br />disburse, or begin to disburse all assets held under this Agreement. Any limitations under <br />the applicable Investment Addendum will apply to these Termination Disbursements. <br />We will recover any Expenses incurred under the Agreement up to the Termination <br />Disbursement Date. We will disburse all assets from the investment vehicle(s) as <br />follows: <br />(A) If the Plan continues to meet the requirements of Code section 457 but <br />a new funding agent is selected, You may direct Us to transfer the <br />assets to the Plan's trustees or new funding agent. You or another <br />authorized Plan representative must give Us written instructions <br />regarding the Termination Disbursement. We may also require that <br />You or another authorized Plan representative provide Us with written <br />confirmation that the Plan will continue to meet the requirements of <br />Code section 457. <br />(B) If the Internal Revenue Service determines that the Plan initially fails to <br />meet the requirements of Code section 457, We will disburse the Plan <br />assets in a single sum cash payment. <br />(C) If the Plan is terminated or the Internal Revenue Service determines <br />that the Plan no longer meets the requirements of Code section 457, We <br />will disburse the Plan assets as You and We mutually agree. If <br />government approval is required, We may require that You or another <br />authorized Plan representative provide Us with written confirmation <br />that the Plan Sponsor has received any required government approval <br />before We disburse the assets. <br />GA -2020 -IA -0805 <br />25D-49 <br />City of Santa Ana - rove trnent Agreement (speoimen).doc <br />