Common use of Methods of Payment Clause in Contracts

Methods of Payment. Distributions from the Director's Deferral Accounts shall be paid in cash in a single sum unless the Participant elects, at the time a Payment Date is selected pursuant to paragraph 4.1(a) or 4.1(b), to receive the amount payable in generally equal quarterly installments over a period not to exceed ten (10) years. In addition, at least one year before the Payment Date, a Director may change the method of payment previously selected.

Methods of Payment. Distributions from the Director's Deferral Accounts shall be paid in cash in a single sum unless the Participant elects, at the time a Payment Date is selected pursuant to paragraph 4.1(a) or 4.1(b), to receive the amount payable in generally equal quarterly installments over a period not to exceed ten (10) years. In addition, at as least one year before the Payment Date, a Director may change the method of payment previously selected.

Methods of Payment. Distributions from the Director's Deferral Accounts shall be paid in cash in a single sum unless the cash. A Participant electsmay elect, at the time a Payment Date is selected pursuant to paragraph 4.1(a) or 4.1(b)selected, to receive the amount which will become payable as of such Payment Date in generally equal quarterly installments over a period not to exceed ten (10) years. In additionExcept as may be elected pursuant to this paragraph, at least one year before the Payment Date, all amounts becoming payable under this Plan shall be paid in a Director may change the method of payment previously selectedsingle sum.