Common use of Election of Payment Schedule and Form of Payment Clause in Contracts

Election of Payment Schedule and Form of Payment. At the time an Eligible Employee completes a deferral agreement, the Eligible Employee must elect a time and a form of payment for the Compensation subject to the deferral agreement from among the options the Administrator has made available for this purpose and which are specified in 6.01b of the Adoption Agreement.

Election of Payment Schedule and Form of Payment. At the time an Eligible Employee or Director completes a deferral agreement, the Eligible Employee or Director must elect a time distribution event (which includes a specified time) and a form of payment for the Compensation subject to the deferral agreement from among the options the Administrator has made available for this purpose and which are specified in 6.01b 6.01(b) of the Adoption Agreement.