Unforeseeable Emergency Distribution. Upon the Bank’s determination (following petition by the Participant) that the Participant has suffered an unforeseeable emergency as described below, the Bank shall # terminate the then effective deferral election of the Participant to the extent permitted under [Section 409A] of the Code, and # distribute to the Participant all or a portion of the Deferral Account balance as determined by the Bank, but in no event shall the distribution be greater than the amount determined by the Bank that is necessary to satisfy the unforeseeable emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which the unforeseeable emergency is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Participant’s assets (to the extent the liquidation of assets would not itself cause severe financial hardship); provided, however, that such distribution shall be permitted solely to the extent permitted under [Section 409A] of the Code. For purposes of this Section, “unforeseeable emergency” means a severe financial hardship to the Participant resulting from # an illness or accident of the Participant, the Participant’s spouse or a dependent (as defined in [Section 152(a)] of the Code) of the Participant, # a loss of the Participant’s property due to casualty, or # other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, each as determined to exist by the Bank.