Common use of Election of Payment Date Clause in Contracts

Election of Payment Date. The Executive must elect in this paragraph 3(b) the date on which his or her vested Deferred Compensation Account for the Bonus Year (the “Distributable Balance”) becomes payable. The Executive may elect payment either upon his or her separation from service, or at a specified month and year in 2013 or later (choose one option). This determination must be made at the time of execution of this Agreement, will apply to the entire Distributable Balance and, subject to paragraph 3(g), is irrevocable. i) Separation from service; or

Election of Payment Date. The Executive must elect in this paragraph 3(b) the date on which his or her vested Deferred Compensation Account for the Bonus Year (the “Distributable Balance”) becomes payable. The Executive may elect payment either upon his or her separation from service, or at a specified month and year in 2013 2012 or later (choose one option). This determination must be made at the time of execution of this Agreement, Agreement and will apply to the entire Distributable Balance and, subject to paragraph 3(g), is irrevocableBalance. i) Separation from service; or