Common use of Continuing Participation Clause in Contracts

Continuing Participation. (i) After the initial year for eligibility, an Eligible Employee may authorize or change a previously authorized Salary Deferral for any Plan Year by executing and delivering to the Corporation a Salary Deferral Agreement at a date determined by the Corporation, but no later than December 31 of the Plan Year immediately preceding the Plan Year in which the Compensation would otherwise be paid to the Member. Once a Salary Deferral Agreement is made, it will remain in effect for that Plan Year and subsequent Plan Years until suspended or changed in accordance with these terms. Table of Contents (ii) A Bonus Deferral Agreement must be executed for any Plan Year that a Bonus Deferral is desired. An irrevocable Bonus Deferral Agreement must be delivered to the Corporation prior to the last business day of March in order to defer that Plan Year’s Bonus, payable in the following Plan Year. A Bonus Deferral Agreement is irrevocable, but may be changed for subsequent Plan Years in accordance with these terms. (iii) A Long-Term Incentive Deferral Agreement must be executed for each payout year that a Long-Term Incentive Deferral is desired. The Long-Term Incentive Deferral Agreement must be delivered to the Corporation prior to the last business day of March of the year prior to the plan year of payment. This Long-Term Incentive Deferral Agreement is irrevocable, but will only apply to the Long-Term Incentive designated in the Agreement. (iv) A Restricted Stock Deferral Agreement must be executed for each payment that a Restricted Stock Deferral is desired. The Restricted Stock Deferral Agreement must be delivered to the Corporation more than six (6) months prior to the vesting in the Restricted Stock Award and in the Plan Year prior to the year in which the Restricted Stock Award vests. This Deferral Agreement is irrevocable, but will only apply to the Restricted Stock Award designated in the Agreement. (v) A Stock Option Deferral Agreement must be executed for each Common Stock option exercise that a Stock Option Deferral is desired. The Stock Option Deferral Agreement must be delivered to the Corporation: (A) no later than December 31 of the Plan Year immediately preceding the Plan Year in which the Member will exercise such option, and Table of Contents (B) at least six (6) months before the exercise of the Common Stock option. This Stock Option Deferral Agreement is irrevocable, but will only apply to the stock option(s) designated in the Agreement.

Continuing Participation. (i) After the initial year for eligibility, an Eligible Employee may authorize or change a previously authorized Salary Deferral for any Plan Year by executing and delivering to the Corporation a Salary Deferral Agreement at a date determined by the Corporation, but no later than December 31 of the Plan Year immediately preceding the Plan Year in which the Compensation would otherwise be paid to the Member. Once a Salary Deferral Agreement is made, it will remain in effect for that Plan Year and subsequent Plan Years until suspended or changed in accordance with these terms. Table of Contents. (ii) A Bonus Deferral Agreement must be executed for any Plan Year that a Bonus Deferral is desired. An irrevocable Bonus Deferral Agreement must be delivered to the Corporation prior to the last business day of March in order to defer that Plan Year’s Bonus, payable in the following Plan Year. A Bonus Deferral Agreement is irrevocable, but may be changed for subsequent Plan Years in accordance with these terms. (iii) A Long-Term Incentive Deferral Agreement must be executed for each payout year that a Long-Term Incentive Deferral is desired. The Long-Term Incentive Deferral Agreement must be delivered to the Corporation prior to the last business day of March of the year prior to the plan year of payment. This Long-Term Incentive Deferral Agreement is irrevocable, but will only apply to the Long-Term Incentive designated in the Agreement. (iv) A Restricted Stock Deferral Agreement must be executed for each payment that a Restricted Stock Deferral is desired. The Restricted Stock Deferral Agreement must be delivered to the Corporation more than six (6) months prior to the vesting in the Restricted Stock Award and in the Plan Year prior to the year in which the Restricted Stock Award vests. This Deferral Agreement is irrevocable, but will only apply to the Restricted Stock Award designated in the Agreement. (v) A Stock Option Deferral Agreement must be executed for each Common Stock option exercise that a Stock Option Deferral is desired. The Stock Option Deferral Agreement must be delivered to the Corporation: (A) no later than December 31 of the Plan Year immediately preceding the Plan Year in which the Member will exercise such option, and Table of Contentsand (B) at least six (6) months before the exercise of the Common Stock option. This Stock Option Deferral Agreement is irrevocable, but will only apply to the stock option(s) designated in the Agreement.