Distribution Elections. Except as otherwise specifically provided in this Plan, a Participant may irrevocably elect for each Plan Year or Company Fiscal Year the form and time of distribution of the Deferral Credits (and related Earnings Credits) made to his or her Account for such Plan Year or Company Fiscal Year.
Initial Distribution Elections. In order to make an effective Deferral Election, each Participant must file with the Company, as a part of the Participant’s Deferral Election under [Section 3(a)], a written or electronic initial election with respect to the timing and manner of distribution of the amount credited to the Participant’s Deferral Account and to the manner of distribution of the amount credited to the Participant’s Matching Account. An election with respect to a Participant’s Deferral Account may include an election to begin distribution upon Termination of Employment (which election, for a Participant’s 2005-2008 Subaccounts and Post-2008 Subaccounts, shall be irrevocable after ) or an election to begin distribution upon such specified date as may be elected by the Participant (which election may be amended as provided in [Section 7(d), 7(e) or 7(f)])])] (as the case may be)). An election with respect to a Participant’s Deferral Account or Matching Account may include an election to receive a distribution # in one lump-sum payment, or # in annual installments over a period not to exceed ten (10) years, as the Participant may designate (which election may be amended as provided in [Section 7(d), 7(e) or 7(f)])])] (as the case may be)). Each such initial election may be made with respect to such portion of the Participant’s Deferral Account and Matching Account related to the corresponding Deferral Election (e.g., prospectively, on a Plan Year by Plan Year basis) and pursuant to such rules and procedures as the Company may establish from time to time.
Changes to Prior Distribution Elections. A Director may elect to modify a prior Distribution Election to the extent permitted under Section 409A of the Code; provided, that, # such election may not take effect until at least twelve (12) months after the date on which the election is made; # the payment (except in the case of death) with respect to which the election is made is deferred for a period of not less than five (5) years from the date such payment would otherwise have been paid (in the case of installment payments, five years from the date the first installment was scheduled to be paid); and # the election must be made not less than twelve (12) months before the payment is scheduled to be paid (in the case of installment payments, twelve (12) months before the first installment was scheduled to be paid).
Elections. All elections and notices of any kind hereunder shall be in writing and provided to the Secretary of the Company in a form prescribed by the Secretary. Unless marked as irrevocable, an election may be modified or revoked at any time prior to, and shall not be effective until, the deadline for making such election.
Elections. Any election under this Paragraph 8.9 shall be in writing on a form approved by the Committee, shall be filed in accordance with such procedures as the Committee shall establish and shall be subject to the written consent of the Eligible Participant’s spouse (as defined in Paragraph 8.1(e)) in accordance with the provisions of Paragraph 8.1(f), if applicable. If an Eligible Participant who has filed an election under this Paragraph 8.9 becomes legally married prior to the Early Distribution Date, such election shall be subject to such spousal consent requirements.
Amendment of Distribution Elections—Matching Account. A Participant may not elect to change the manner of distributions from Participant’s Matching Account after an election as to the form of distribution has become effective.
“5.4 Distribution Elections
Distribution of Deferral Elections Made Prior to . This [Section 5.1] shall apply to the distribution of all deferral elections made by a Participant prior to .
[Section 5.1(b)(1)(C)] (setting forth certain distribution options for the amount credited to a Participant’s Active SRSP Account) is hereby amended by adding thereto to [clauses [(iii) and (iv)])]])], such that it shall read as follows effective for distribution elections or changes to distribution elections made on or after such date as the Committee shall designate:
Form of Distribution for Director and Survivor Payout Elections for Post 2004 DSUs.
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