General Except as otherwise provided in this Plan, an election shall be made before the beginning of the Plan Year which includes the first day of the Company Fiscal Year, during which Plan Year or Company Fiscal Year the Participant performs services for which the Retainer is earned The election must designate the percentage of the Retainer to be deferred under this Plan In accordance with Plan Rules, the Plan Administrator will determine the manner and timing required to file a deferral election An election to defer the Retainer for services to be performed in the Plan Year or Company Fiscal Year is irrevocable once it has been accepted by the Plan Administrator and the deadline for making such election has expired, except as otherwise provided under this Plan

A deferral election will be effective with respect to the first Retainer paid for services performed during the Plan Year or Company Fiscal Year and such election will remain in effect through the last Retainer paid for services performed during the Plan Year or Company Fiscal Year