Form of Benefit Payment. In the event of a Participant’s Separation from Service, the Participant’s vested Account shall be paid in the form of a cash lump sum or in annual cash payments (over a period of five (5), ten (10), or fifteen (15) years), as elected by the Participant. If applicable, the initial installment shall be based on the value of the Participant’s vested Account, measured on the date of his or her Separation from Service, and shall be equal to 1/n (where ‘n’ is equal to the total number of annual benefit payments not yet distributed). Subsequent installment payments shall be computed in a consistent fashion, with the measurement date being the anniversary of the original measurement date. Notwithstanding the Participant’s election regarding the form of the Separation from Service Payment, the Service Recipient shall have the right to make a De Minimis Distribution, as elected by the Service Recipient in the Adoption Agreement, and pay the Participant’s or Beneficiary’s benefit or remaining benefit in a single lump sum payment. Election of the form of the Separation from Service Payment must be provided to the Plan Administrator at the time the Participant first enters into a Compensation Deferral Agreement. Payments made by reason of a Change in Control Event, shall be made in a cash lump sum. A payment to a Specified Employee must be delayed for at least 6 months, or until death, if earlier. If determined by the Service Recipient in the Adoption Agreement, Participants may be permitted to subsequently elect a change in the timing or the form of the Separation from Service Payment, as previously selected, by submitting the appropriate form to the Plan Administrator. The Plan Administrator shall have sole and absolute discretion to decide whether such a request shall be approved but may approve no more than three such requests for any Participant, and such change in form shall be effective only if:
Form of Benefit Payment. (Check only one of the options 4(a), (b), or (c) if you elected to defer any portion of your Compensation into the Deferred Compensation Plan under Part 2 above.) Pay my Deferred Compensation Plan benefit relating to the Compensation deferred hereby in:
Form of Benefit Payment. 4.1 Executive shall, upon executing this Agreement or thereafter, elect the form in which his Benefit shall be distributed. Such election of a distribution form shall be irrevocable; provided, however, that Executive may change his election of a distribution form if such election is made no later than one (1) year prior to the date that Benefit payments actually commence to Executive. If Executive elects a change in the distribution form of his Benefit and such election is made less than one (1) year prior to the date that Benefit payments actually commence to Executive, then such election change shall be ineffective, and the Benefit shall be distributed according to Executive's immediately prior election. If Executive does not elect a distribution form prior to becoming eligible to receive a Benefit under this Agreement, he shall be deemed to have elected the lump sum Benefit pursuant to Section 4.2(b)(ii).
Form of Benefit Payment. (Check and Initial 3.(a), (b) or (c)) Pay my Deferred Compensation Benefit in: **
Form of Benefit Payment. The Supplemental Retirement Benefit shall be paid in the basic form provided below, unless the Participant selects an alternate form of payment. The basic and alternative forms of payment are as follows:
Form of Benefit Payment. The Actuarial Equivalent of the Applicable Percentage of the Supplemental Retirement Benefit, adjusted to present value in any case in which payments will commence other than upon attaining age 60 shall be paid in the form of a lump sum. Present value shall be based on the interest rate then used for present valuing benefits under the Company’s defined benefit plans.
Form of Benefit Payment. The flush sentence immediately following Section 5.4(b) shall be deleted in its entirety and replaced with the following: All payments shall be made in cash; provided, however, to the extent distributable amounts are credited to the Member’s Stock Account, such payments shall be made in shares of Company Stock (with any fractional share interest therein paid in cash to the extent of the then fair market value thereof), cash, or any combination thereof, in the sole discretion of the Plan Committee.
Form of Benefit Payment. The Executive shall elect payment of the benefits provided hereunder in one of the following forms:
Form of Benefit Payment. I hereby elect to receive benefits from this election in the following form (select A or B):
Form of Benefit Payment for Director Participants, the benefit shall be paid in the form elected by the Participant prior to the beginning of each deferral period.
