Subject to the terms of the Plan, the Outside Director hereby elects to receive payment of the amount in his or her Interest Account that is deferred pursuant to the election above (or, if applicable, the first installment of such amount) within ten (10) days following the earliest of (a) the date he or she ceases to be a Director, (b) the date on which a Change in Control occurs, and (c) February 20, 20__ (insert a year 20__ or later or circle “N/A”) .
timing of payouts