Common use of Election changes/Irrevocability Clause in Contracts

Election changes/Irrevocability. A Participant who makes an initial payment election which the Employer has accepted (complete (a) and (b)): (a) Initial payment elections. (choose one of (i), (ii) or (iii)): (i) May change. May change the initial payment election as to the Deferred Compensation to which the election applies, until the applicable election deadline under 4.02(A)(2)(a). Any change to an initial payment election made after the initial payment election becomes irrevocable is a change payment election. (ii) May not change. May not change the initial election as to the Deferred Compensation to which the election applies.

Election changes/Irrevocability. A Participant who makes an initial payment election which the Employer has accepted (complete (a) and (b)): (a) Initial payment elections. (choose one of (i), (ii) or (iii)): (i) May change. May change the initial payment election as to the Deferred Compensation to which the election applies, until the applicable election deadline under 4.02(A)(2)(a). Any change to an initial payment election made after the initial payment election becomes irrevocable is a change payment election. . ¨ (ii) May not change. May not change the initial election as to the Deferred Compensation to which the election applies.

Election changes/Irrevocability. A Participant who makes an initial payment election or a change payment election which the Employer has accepted (complete (a) and (b)): (a) Initial payment elections. (choose one of (i), (ii) or (iii)): (i) May change. May change the initial payment election as to the Deferred Compensation to which the election applies, until the applicable election deadline under 4.02(A)(2)(a). Any change to an initial payment election made after the initial payment election becomes irrevocable is a change payment election. . [X] (ii) May not change. May not change the initial election as to the Deferred Compensation to which the election applies.

Election changes/Irrevocability. A Participant who makes an initial payment election or a change payment election which the Employer has accepted (complete (a) and (b)): (a) Initial payment elections. (choose one of (i), (ii) or (iii)): x (i) May change. May change the initial payment election as to the Deferred Compensation to which the election applies, until the applicable election deadline under 4.02(A)(2)(a). Any change to an initial payment election made after the initial payment election becomes irrevocable is a change payment election. (ii) May not change. May not change the initial election as to the Deferred Compensation to which the election applies.