“(b) An election to defer Cash Compensation is irrevocable for a Plan Period. Such an election (including any changed election made in accordance with this sentence) shall continue from Plan Period to Plan Period unless the Director timely changes his or her election to defer Cash Compensation payable for a future Plan Period prior to the beginning of such future Plan Period.”

General Requirements. A Participant’s distribution election must be made prior to the date the Participant’s deferral election becomes irrevocable. Earnings Credits will be distributed in the same form and time as in effect for the related Account credit. The election shall be made in the form and manner prescribed by Plan Rules.

Distribution of Restricted Stock Units. The Restricted Stock Units credited hereunder will be distributed in accordance with an irrevocable distribution election previously made by the Participant.

Election to Defer. Prior to November 1, 2019, an election to defer may be made within 30 days following the date an individual first becomes an Outside Director of A&B or thereafter in December of each year. In December of each year, the Plan Administrator will send to each Outside Director a deferral election form. Elections to defer shall be irrevocable on the first day of the calendar year following the year in which the election was made. For an election to be effective for any calendar year, the form must be executed by the Outside Director, returned to the Plan Administrator, and accepted and approved by the Plan Administrator before the beginning of the calendar year for which the election is to be effective. Such election shall be effective and irrevocable on January 1 of the calendar year following the calendar year in which the Plan Administrator accepts and approves the Outside Director's executed election form. Any election will apply to subsequent calendar years until the Outside Director provides the Plan Administrator with a notice to modify or revoke the election. Such notice to modify or revoke the election will become irrevocable and effective on the January 1 following the year in which it was made. Notice of modification or revocation of an election must be submitted in writing, and may be submitted to the Plan Administrator at any time.

No Change in Specified Payment Date Permitted. If a Participant has selected a Specified Payment Date with respect to a Deferral Election, subject to the provisions of [Section 10(a)] herein, such election becomes irrevocable as of the last day of the calendar year immediately preceding the calendar year to which the Deferral Election relates.

Irrevocability. A Participant’s deferral election under this Article III shall be irrevocable after the last date prescribed under [Section 3.2] for the making of such election; provided, however, that such election may be revoked with the consent of the Board of Directors as part of a determination that an Unforeseeable Emergency exists permitting distribution under [Section 5.3] hereof.

shall be deemed to have elected not to defer any amount under the Restoration Plan for such Plan Years and such election shall be irrevocable for such Plan Years.”

To make an election pursuant to this Section, a Borrower, or ​ on its behalf, shall notify [[Administrative Agent:Organization]] of such election (by telephone or irrevocable written notice in the case of a Borrowing denominated in Dollars or by irrevocable written notice (via an Interest Election Request in a form approved by [[Administrative Agent:Organization]] and signed by such Borrower, or ​ on its behalf) in the case of a Borrowing denominated in a Foreign Currency by the time that a Borrowing Request would be required under [Section 2.03] if such Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to [[Administrative Agent:Organization]] of a written Interest Election Request in a form approved by the Administrative Agent and signed by the relevant Borrower, or ​ on its behalf. Notwithstanding any contrary provision herein, this Section shall not be construed to permit any Borrower to # change the currency of any Borrowing, # elect an Interest Period for Eurocurrency Loans that does not comply with Section 2.02(d) or (iii))] convert any Borrowing to a Borrowing of a Type that is not available.

An election to defer Compensation shall be effective on the date an eligible Employee or Director delivers a completed Election of Deferral form to the Plan Administrator; provided, however, that, if the eligible Employee or Director delivers another properly completed Election of Deferral form to the Plan Administrator prior to the close of the deferral election period described in [Section 4.1] , the deferral election on the form bearing the latest date shall control. After the last day of the election period, the controlling election made prior to the close of the period shall be irrevocable.

As described in Section 5.2(a), an account balance in excess of $5,000 shall not be immediately distributed without the consent of the participant. The participant shall receive the notice required under Regulation [section 1.411(a)-11(c)])] no less than 30 days and no more than 180 days before the annuity starting date with respect to the distribution. The written explanation shall include a description of the consequences of failing to defer receipt of the distribution. For any distribution in excess of $200, the plan administrator shall give the participant notice of his eligible rollover distribution rights. The participant shall receive such notice in the same time period as the 411 notice is required to be provided. If a distribution is one to which Code sections 401(a)(11) and 417 do not apply, such distribution may commence less than 30 days after the 411 notice is given, provided that: