Regardless of whether the Director has elected to convert DSUs to cash value under [section D] above, all payouts of a Director's DSU Account will be paid in cash.

Installment payments of US $10,000.00 on the first day of each month, commencing on the month following the month in which Timberline completes its first Financing and continuing on the first day of each month thereafter until the Outside Date (the “Installment Payments”).

If installment payments are in effect, the Participant’s Deferred Compensation Account shall continue to be credited with earnings (or losses) under Article VII until payment of the final installment.

A Member who has commenced installment payments under this Subsection # may elect, in accordance with the Company’s administrative procedures, to terminate the remaining scheduled installments at any time, and shall be eligible to elect distribution of the remaining value of his Accounts in any other form of distribution available under this Section 8.6; provided, however, that any new election of installment payments shall be subject to the same 15 year maximum payment period that applied to the original installment payments.

Impact of Reemployment on Benefits. If a Participant incurs a Termination of Employment and begins receiving, installment payments from the ERA and such Participant is reemployed by the Employer or an Affiliate, then such Participant's installment payments will continue as scheduled during the period of his reemployment.

Annual Installment payments over a period of two (2) to ten (10) years commencing in January of the second Plan Year following the Plan Year in which the Participant's Separation from Service occurs, with subsequent installment payments to be made in each January within the applicable period.

Executive’s right to receive installment payments will be treated as a right to receive a series of separate and distinct payments.

Effective solely for distributions made before October 1, 2009, a participant was permitted to elect installment payments over a period of years that meets the Distribution Requirements of Section 5.3. Installment payments may be made in cash from the fund or by distribution of an annuity term certain contract.

“If the Director elected to receive annual installments with respect to any portion of the Director’s Deferred Compensation Accounts, the first such installment shall be equal to the portion of the balance in the Director’s Deferred Compensation Account to which such installment election applies on the date of payment divided by the number of annual installment payments. Each subsequent annual payment shall be an amount equal to the portion of the balance in the Director’s Deferred Compensation Account to which such installment election applies on the date of payment divided by the number of the then-remaining annual payments and shall be paid on the respective anniversary of the preceding date of payment.” 4.

All payments of deferred compensation hereunder shall be made in cash, except that all Stock Awards which would have been paid in stock if not deferred shall be paid in stock. In the case of a distribution in stock to a Participant who has elected installment payments, any installment that would consist of fractional shares of stock will be rounded down to the next lower number of whole shares of stock.