A Participant May Make or Revoke an Election Sample Clauses

A Participant may make or revoke an election. Cash Election") during any calendar year. Such election or revocation shall apply to Dividend Equivalents with respect to any record date occurring in any subsequent calendar year until a new election or revocation takes effect. When a Cash Election is in effect, Dividend Equivalents with respect to all Deferred Shares credited to such Participant's account shall be paid in cash to the Participant in lieu of being credited as Deferred Shares.