Deferral Election Uses in Special Rule for New Fees Clause

Special Rule for New Fees from Deferred Compensation Plan

Special Rule for New Fees. If, during the course of a year, a non-employee director becomes eligible to receive a type of Fee for which the director was not eligible on December 31 of the prior year, the director may file a Deferral Election with respect to any payments of such Fee payable during the remainder of the current year, provided the Deferral Election is made before the earlier of (i) 30 days following the date the director becomes eligible for the Fee, and (ii) the date the Fee or any portion thereof is payable.