a. POC/deferred comp amendmnt - Laserfiche WebLink

when such person has a Plan Joan outstanding, the principal and any accrued interest with respect to such loan shall be deducted from the amount of the distribution, If the amount of such distribution is r~ot sufficient to repay the outstanding balance of the loan (including principal and accrued interest), the Participant, or his or her estate, if applicable, shall be liable for and shall continue to make payments on any baJance stiII due from him or her. ' 5. Lean Amortization. Each Joan shall be amortized in substantiaIly equal payments consisting of principal and interest dudng the term of the Icon. Payments of principal and interest shall be made in a manner and pursuant to the terms set forth in the loan agreement on a monthly basis in equal amounts, except that the amount of the fina~ payment may be higher or lower. Before the Joan is made, the Participant will be notified of the date on which the [irst payment will be deducted and the dates on which subsequent payments are due. 6. Loan Frequency/Renegotiatiens. Each Participant may have only one (1) Plan loan outstanding at any given time. A Plan loan which is in default, even if the defaulted loan was treated as a "deemed distribution" under federal regulations, shall be Ireated as an outstanding loan until such Participant's account balance is offset by the amount of pdncipa~ and accrued interest under the loan. NRS shalI offset a defaulted loan at any fime that is administratively practicable, including but not limited to severance from employment by the Participant or upon a request for a distribution from the Plan. A Participant will be granted a loan no more frequently than two (2) times in any twelve (12) month period. Under no circumstances may Joan terms be renegotiated, A new loan shall not be granted prior to the repayment of an outstanding loan. 7. Default. The Participant must pay the full amount of each payment (principal and interest) on the date that it is due by having su~cient funds in the account designated for loan payments through the ACH process. If NRS is unable to process a payment on the date due because the Participant fails to have sufficient funds in the account on that date, NRS will assess a fee of $25.00 that will be deducted from Participant's account(s) and will send wdtten notification to the Participant. The Participant shaII be in default for the entire amount of the loan UNLESS the Participant does each of the following: I) contacts NRS at the Deferred Compensation Service Center, 2) mutually agrees with NRS on a date, which is within 38 days of the missed payment an which funds sufficient to cover the missed payment will be in the account and; 3) actually pays the missed payment. Failure to make such a payment through mutually agreeable terms shall cause the Participant to be in default for the entire amount of the loan. No additionaI loans shall be made to a Participant who has defaulted on a Plan loan and who has not repaid all defaulted loans in full, including accrued interest and fees. 8. Loan Prepayment. The entire amount of a loan, including outstanding principal and any accrued interest, may be paid without penalty prior to the end of the term of the loan fn the manner prescribed by NRS. However, payments rr~ade that are less than the remaining principal amount of the loan and any accrued interest with respect to the loan, or which are not paid in the form prescribed by NRS, are not permitted. 9. Loan Security. By accepting a Ioan, the Participant is giving a security interest in their vested Plan balance as of the date of the Loan Process Date, together with all additions thereof, to the Plan that shall at all times be equal to 100% of the unpaid principal balance of the Icon together with accrued interest. 10. Maximum/Minimum Loan Amount. The maximum amounl of any loan permitted under the Plan is the lesser of (i) 50% of the Parlicipant's vested account balance (not including any value attributable to applicable life insurance or deemed IRA account) less any outstanding Ioan balances under the Plan or $50,000 less the highest outstanding Ioal~ balance during the preceding one-year period. The minimum loan amount permitted is $1,000.00' Loans shall be made in accordance with these limits and those limits imposed under federal regulations without regard to any other loans received by the Participant from any