Common use of Executive Deferral Plan Clause in Contracts

Executive Deferral Plan. During the Salary Continuation Period, ▇▇▇▇▇▇ may continue, at his election, to remain a participant in the Company's Executive Salary Deferral Plan. If ▇▇▇▇▇▇ elects not to continue as a plan participant during the Salary Continuation Period, the distribution of benefits will begin at the time of such election; otherwise, the distribution of benefits will commence after August 1, 2002 in accordance the payment options permitted by the Plan as they may exist at such time.

Executive Deferral Plan. During the Salary Continuation Period, ▇▇▇▇▇▇ may continue, at his election, to remain a participant in the Company's Executive Salary Deferral Plan. If ▇▇▇▇▇▇ elects not to continue as a plan participant during the Salary Continuation Period, the distribution of benefits will begin at the time of such election; otherwise, the distribution of benefits will commence after August 1June 30, 2002 2003 in accordance with the payment options permitted by the this Plan as they may exist at such time.