This excerpt taken from the Q 8-K filed Dec 16, 2005.
Deferral Elections. An Eligible Director may elect to irrevocably defer all or any portion of the Directors Fees that he or she anticipates earning. Such election shall be made and filed with the Company no later than (i) the last day of the calendar year prior to the calendar year in which such Directors Fees would otherwise be payable, if the Director initiates the
election, or (ii) three months prior to the date the Directors Fees would otherwise be payable if a deferral election is solicited from all Directors by the Company. Such elections shall be made by filing a written notice with the Company in such form, in such manner and by such time as the Administrator shall specify. Notwithstanding the foregoing, a Director who first becomes an Eligible Director during a calendar year may, within thirty days following the date on which he or she becomes an Eligible Director, elect to defer Directors Fees that he or she has not yet earned (as of the date such Director files a deferral election with the Company) but that are payable in such calendar year.