SPECIFIED IN, RESPECTIVELY,
SECTION 3.4(2)(D)(I) OR SECTION 3.4(2)(E), REMAINS UNCHANGED.
(E)
TRANSITION ELECTIONS.
NOTWITHSTANDING ANY PROVISION OF THE PLAN,
ANY EXECUTIVE WHO IS AN ACTIVE EMPLOYEE OF THE COMPANY OR A MEMBER OF THE
CONTROLLED GROUP DURING THE ELECTION PERIOD DESIGNATED BY THE ADMINISTRATOR,
ENDING NO LATER THAN DECEMBER 31, 2008, MAY MAKE AN ELECTION TO RECEIVE HIS
NON-GRANDFATHERED SERP BENEFIT IN ONE OF THE OPTIONAL FORMS SPECIFIED IN
SECTION 3.4(2)(B), COMMENCING ON THE DATE SPECIFIED IN SECTION 3.3(2)(A) OR
(B) (AS APPLICABLE); PROVIDED, HOWEVER, THAT SUCH ELECTION SHALL NOT APPLY IF
THE EXECUTIVE SEPARATES FROM SERVICE ON OR BEFORE DECEMBER 31, 2008 AND IS
SUBJECT TO THE PROVISION OF SECTION 3.3(2)(C).
THE TRANSITION ELECTION MUST BE
MADE IN WRITING, ON A FORM PROVIDED BY THE ADMINISTRATOR AND FILED WITH THE
ADMINISTRATOR WITHIN THE DESIGNATED TRANSITION ELECTION PERIOD.
THE TRANSITION
ELECTION MADE PURSUANT TO THIS PARAGRAPH (E) MAY NOT CAUSE ANY AMOUNT TO BE PAID
IN 2008 IF NOT OTHERWISE PAYABLE AND MAY NOT DELAY PAYMENT OF ANY AMOUNT THAT IS
OTHERWISE PAYABLE IN 2008.
(F)
COORDINATION OF PAYMENT ELECTIONS WITH MIRROR PENSION PLAN.
IF
AN EXECUTIVE IS ALSO A PARTICIPANT IN THE MIRROR PENSION PLAN, THE EXECUTIVE'S
NON-GRANDFATHERED MIRROR PENSION BENEFIT AND THE NON-GRANDFATHERED SERP BENEFIT
WILL BE PAID IN THE SAME FORM AND AT THE SAME TIME.
IF AN EXECUTIVE MAKES AN
ELECTION OF AN OPTIONAL PAYMENT FORM PURSUANT TO SECTION 3.4(2)(B) OF THE PLAN
OR SECTION 3.3(2)(B) OF THE MIRROR PENSION PLAN, THE MOST RECENT ELECTION FILED
WITH THE ADMINISTRATOR UNDER EITHER THIS PLAN OR THE MIRROR PENSION PLAN AT
LEAST TWELVE (12) MONTHS BEFORE THE SEPARATION FROM SERVICE (OR, IF APPLICABLE,
AT A DATE SPECIFIED IN PARAGRAPH (D)(II) OF THIS SUBSECTION) THAT REMAINS ON
FILE WITH THE ADMINISTRATOR ON THE DATE OF SEPARATION FROM SERVICE WILL GOVERN
THE FORM AND TIME OF PAYMENT UNDER THE PLAN.
IN THE EVENT OF CONFLICTING
ELECTION FORMS FILED SIMULTANEOUSLY UNDER THIS PLAN AND THE MIRROR PENSION PLAN,
THE ELECTION FILED UNDER THIS PLAN SHALL GOVERN.
SECTION 3.5
DEATH AFTER COMMENCEMENT OF NON-GRANDFATHERED SERP
BENEFITS.
IF AN EXECUTIVE DIES AFTER COMMENCING PAYMENT OF HIS
NON-GRANDFATHERED SERP BENEFIT UNDER THE PLAN BUT BEFORE HIS ENTIRE
NON-GRANDFATHERED SERP BENEFIT IS DISTRIBUTED, PAYMENTS TO THE EXECUTIVE'S DEATH
BENEFICIARY (IF ANY) WILL BE MADE (A) IN ACCORDANCE WITH THE ELECTED OPTIONAL
FORM OF PAYMENT DESCRIBED IN SECTION 3.4(2)(B)(II) OR (III) (IF ELECTED), OR
(B) NINETY (90) DAYS AFTER THE EXECUTIVE'S DEATH IN THE FORM OF A SINGLE LUMP
SUM, CALCULATED USING THE ACTUARIAL FACTORS IN EFFECT ON THE DATE OF
DISTRIBUTION, IF THE EXECUTIVE ELECTED ONE OF THE OPTIONAL FORMS OF PAYMENT
DESCRIBED IN SECTION 3.4(B)(IV).
ARTICLE IV
SERP PRE-RETIREMENT BENEFITS
SECTION 4.1
ELIGIBILITY.
THE DEATH BENEFICIARY OF AN EXECUTIVE WHO
DIES AFTER BECOMING VESTED IN HIS SERP BENEFITS (INCLUDING THE DEATH BENEFICIARY
OF AN EXECUTIVE WHO DIES WHILE HE IS DISABLED) BUT PRIOR TO COMMENCING TO
RECEIVE SERP BENEFITS HEREUNDER SHALL BE ENTITLED TO RECEIVE THE SERP
PRE-RETIREMENT BENEFITS DESCRIBED IN SECTION 4.2 IN