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VII · VIII. basis, (b) or by purchasing a single premium annuity at time of participant's termination to provide payments for 180 consecutive months and life thereafter, or (c) payments for his lifetime and thereafter during any remaining lifetime of a designated second person. In the event such determination is made, the benefit provided in C. 3. will be appropriately modified to provide for payments in the case of (a) above, the 180 month period, and (c) above, for the bal- ance of the remaining lifetime of the designated second person. In addition, the City may choose, by written agreement at least 30 days prior to the Participant's retirement in lieu of fluctuat- ing payments, payments of a fixed amount or combi- nation of fixed and fluctuating payments. WITHDRAWAL - Due to unforeseeable financial obligations and after other sources of financial relief have been explored, a Participant may apply to the city for withdrawal from the Plan prior to retirement or other termination of the Parti- cipant's service with the City. If such application for withdrawal is approved by the City, the withdrawal will be effective at the later of the date specified in the Parti- cipant's application or the date of approval by the City. The city may elect to honor a request from the Participant to pay the amount of money determined as if the Participant had terminated his service; if such request by the Partici- pant is made and honored by the City, the City in its dis- cretion may make payments in a lump sum or in substantially equal monthly, quarterly, or annual installments over a pe- riod of up to five years from the date of withdrawal or in any other set number of periodic payments as determined by the City in its sole discretion. Following withdrawal, the Participant's compensation will be thereupon restored to its normal, current salary level. Unforeseeable financial obli- gations shall include but not be limited to the following: bankruptcy or impending bankruptcy, unexpected and unreim- bursed major expenses resulting from illness to person or accident to person or property and other types of unexpected and unreimbursed expenses of a major nature that would not normally be budgetable. Withdrawals for foreseeable expen- ditures normally hudgetable such as down payments on a home or purchase of an auto or college expenses will not be per- mitted. LEAVE OF ABSENCE - If a Participant is on an approved leave of absence from the City with compensation, his participation in this Plan may continue. 5 -