Common use of DISTRIBUTION ELECTION Clause in Contracts

DISTRIBUTION ELECTION. Pursuant to the Provisions of my Executive Supplemental Retirement Plan Executive Agreement with North Georgia National Bank, I hereby elect to have any distribution of the balance in my Deferral Account paid to me in installments as designated below: _____ Lump sum. _____ Five (5) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. _____ Ten (10) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account.

DISTRIBUTION ELECTION. Pursuant to the Provisions of my Executive Supplemental Retirement Plan Executive Agreement with North Georgia National Bank, I hereby elect to have any distribution of the balance in of my Deferral Account paid to me in installments as designated below: _____ Lump sum. _____ Five (5) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. _____ Ten (10) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account.