Common use of Payment Form Election Clause in Contracts

Payment Form Election. I hereby modify my Payment Form election and designate the following as my Payment Form for the amounts credited to my Deferral Account [place an “X” preceding your choice and fill in the missing information, as applicable]: A lump sum payment. Quarterly installments for a period of [pick either 5 or 10] years. I understand that for purposes of modifications to the Payment Form, each installment stands alone (e.g., to change installments to a lump sum, the lump sum must be deferred to five years after the last installment payment would have been made). I understand that any future decision I make to change the Payment Form is subject to restrictions on acceleration and mandatory deferrals pursuant to applicable provisions of the Internal Revenue Code. I hereby agree that the terms of the Agreement, as effective as of , 2010, are incorporated herein and are made a part hereof. Dated:

Payment Form Election. I hereby modify my Payment Form election and designate the following as my Payment Form for the amounts credited to my Deferral Account [place an “X” preceding your choice and fill in the missing information, as applicable]: ____ A lump sum payment. ____ Quarterly installments for a period of ____ [pick either 5 or 10] years. I understand that for purposes of modifications to the Payment Form, each installment stands alone (e.g., to change installments to a lump sum, the lump sum must be deferred to five years after the last installment payment would have been made). I understand that any future decision I make to change the Payment Form is subject to restrictions on acceleration and mandatory deferrals pursuant to applicable provisions of the Internal Revenue Code. I hereby agree that the terms of the Agreement, as effective as of ________ __, 2010, are incorporated herein and are made a part hereof. Dated: