Common use of Payment Form and Medium Clause in Contracts

Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms: (a) a single lump sum; (b) a portion paid in a lump sum, and the remainder paid later (partial payment); or (c) periodic installments over a period not to exceed the life expectancy of the Participant and his on her Beneficiary. Distributions shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. Alternatively, a Participant may elect that a distribution in the form of a lump sum payment be made in the form of whole shares of Company Stock and cash in lieu of fractional shares (to the extent the distribution consists of amounts from the Company Stock Fund). With regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.

Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms: (a) a single lump sum; (b) a portion paid in a lump sum, and the remainder paid later (partial payment); or (c) periodic installments over a period not to exceed the life expectancy of the Participant and his on or her Beneficiary. Distributions shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. Alternatively, a Participant may elect that a distribution in the form of a lump sum or a partial payment be made in the form of whole shares of Company Stock and cash in lieu of fractional shares (to the extent the distribution consists of amounts from the Company Stock Fund). With regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.