Transitional Election Rights Sample Clauses

Transitional Election Rights. On or after the date this amended and restated Agreement is executed and on or before December 31, 2008, the Executive (A) may make the election described (i) in Section 2.2.7 with respect to the Normal Retirement Benefit, (ii) in Section 2.2.8 with respect to the Change in Control Benefit, or (iii) in Section 2.2.9 with respect to any other benefit, to receive such benefit in the form of a monthly benefit as provided therein, but without regard to the requirements that such election not take effect until twelve months following the date on which it is made or that the commencement of payment be deferred for at least five years after the Executive’s termination of employment; or (B) may revoke a prior election to receive any such benefit in the form of a monthly benefit and elect to receive a cash lump sum equal to the actuarial present value of such benefit instead; provided, however, that the election does not affect any amount to be paid under this Agreement during calendar year 2008 or cause any amount to be paid during calendar year 2008 that would otherwise be paid after such year.

Transitional Election Rights. (A) On or before December 31, 2007, Employee may make any of the elections described (i) in Section 1.1 with respect to the Normal Retirement Benefit, (ii) in Section 1.2(A), (B) or (C) with respect to the Early Retirement Benefit, or (iii) in Section 5.1(A), (B) or (C) with respect to the Change in Control Benefit, but without regard to the requirements that such election not take effect until twelve months following the date on which it is made or that the commencement of payment be deferred for at least five years after the date on which the date on which payment of the benefit otherwise would have been made or commenced; provided, however, that the election shall not affect any amount to be paid under this Agreement during calendar year 2007 or cause any amount to be paid during calendar year 2007 that would otherwise be paid after such year. (B) On or after January 1, 2008 and on or before December 31, 2008, Employee may (I) make any of the elections described (i) in Section 1.1 with respect to the Normal Retirement Benefit, (ii) in Section 1.2(A), (B) or (C) with respect to the Early Retirement Benefit, or (iii) in Section 5.1(A), (B) or (C) with respect to the Change in Control Benefit, but without regard to the requirements that such election not take effect until twelve months following the date on which it is made or that the commencement of payment be deferred for at least five years after the date on which the date on which payment of the benefit otherwise would have been made or commenced; or (II) may revoke any election previously made pursuant to any such section or (I) above; provided, however, that any such election or revocation shall not affect any amount to be paid under this Agreement during calendar year 2008 or cause any amount to be paid during calendar year 2008 that would otherwise be paid after such year.