Common use of Optional Forms of Payment Clause in Contracts

Optional Forms of Payment. Section 2.04 of the Agreement is hereby amended by deleting the second to last sentence thereof in its entirety and replacing it with the following: "In addition, the Executive may elect a lump sum under this plan." The purpose of the amendment set forth in this Section 1.2 is to make clear that, if the Executive elects lump sum payment, the Company shall not have any right to require that payment be made over a period of five years.

Optional Forms of Payment. Section 2.04 of the Agreement is hereby amended by deleting the second to last sentence thereof in its entirety and replacing it with the following: "“In addition, the Executive may elect a lump sum under this plan." ” The purpose of the amendment set forth in this Section 1.2 is to make clear that, if the Executive elects lump sum payment, the Company shall not have any right to require that payment be made over a period of five years.