Exhibit 4.8 THRIFT-INCENTIVE PLAN (TIP) PAYOUT AUTHORIZATION FORM FOR AN EMPLOYEE TERMINATING SERVICE WITH THE BANK TIP/ESOP Administration, HA-00 1-800-291-PLAN (7526) or Northern Retirement Services 400 Perimeter Center Terrace NE Suite 850 Atlanta, GA 30346-1243 - ------------------------------------------------------------------------------ Last First Middle - ------------------------------------------------------------------------------ Street - ---------------- --------------- -------- _____ Check if New Address City State Zip Code - --------------------------------- Daytime Phone (after termination) - --------------------------------- ------------------------ --------------- Signature Social Security # Date I. TIP DISTRIBUTION CHOICES I understand that I will receive my distribution approximately five weeks after the end of the month following my official termination date, provided I return this form by the deadline stated below. ____ A. DISTRIBUTE the entire balance of my TIP account in CASH (NO SHARES). ____ B. DISTRIBUTE my Northern Trust Stock account in shares. DISTRIBUTE the balance of all other investment funds in my TIP account in cash. ____ C. PLACE my account balance IN A DEFERRED STATUS, DEFER PAYMENT TO THE EARLIER OF AGE 65 OR DEATH (only if the vested balance of your account is greater than $3,500). I understand that I may request payment sooner and that it will be paid approximately five weeks after the end of the month in which I make my request. I understand that any outstanding loan balance must be repaid or the loan balance will be considered taxable income. II. TIP TAX CHOICES - The taxable portion of your TIP Account is subject to an automatic 20% Federal income tax withholding on any amount that is not rolled over to an IRA or another Employer's Plan. - The after-tax portion of your account is not subject to tax withholding and cannot be rolled over to an IRA or another Employer's Plan. - If you do not return this form, and your balance is greater than $3,500, the 20 percent withholding will automatically apply to the taxable portion of your TIP distribution. Please see the enclosed Special Tax Notice on Distributions. ____ A. Distribute 100% of my balance, cash and any shares, payable to me. I understand 20% tax withholding will apply to the taxable portion of the distribution. ____ B. Direct Rollover 100% of the taxable portion of my balance, cash and any shares, to the IRA/Employer Plan below (any after-tax money will be payable to me). ____ C. Split my distribution between direct rollover and payable to me. I understand 20% tax withholding will apply to the taxableportion of my distribution made payable to me. ____ 1. Distribute only $___________ in cash to me. Direct rollover any remaining cash and shares to the IRA/Employer Plan below. ____ 2. Distribute only ___________ shares of stock to me. Direct rollover any remaining shares and all of my cash to the IRA/Employer Plan below. DIRECT ROLLOVER MY CASH/SHARES TO: ============================================================================== Rollover IRA OR Another Employer's Qualified Retirement Plan Make check/shares payable and Make check/shares payable and mail directly to: mail directly to: - ----------------------------- -------------------------------------------- - ----------------------------- -------------------------------------------- Tax I.D.#: Tax I.D.#: ------------------- ---------------------------------- - ----------------------------- -------------------------------------------- - ----------------------------- -------------------------------------------- Address: Address: ------------------- ---------------------------------- - ----------------------------- -------------------------------------------- Attn: Attn: ------------------------ --------------------------------------- If information is incomplete, If information is incomplete, the Distribution will not be the Distribution will not be processed. processed. Account#: ------------------- (optional) ============================================================================== YOUR CHECK WILL BE MADE PAYABLE TO THIS IRA/EMPLOYER PLAN AND MAILED TO THEM FOR DEPOSIT.