Common use of Confirmation of Action Clause in Contracts

Confirmation of Action. The person making the Participant Election receives, within a reasonable time, a confirmation of the effect of the election under the terms of the Plan or arrangement through either a written paper document or an electronic medium under a system that satisfies the requirements of either paragraph (b) or (c) of Regulations Section 1.401(a)-21 (as if the confirmation were an applicable notice). In the case of a Participant Election which is required to be witnessed by a Plan representative or a notary public (such as a spousal consent under Section 417 of the Code), the signature of the individual making the Participant Election must be witnessed in the physical presence of a Plan representative or a notary public. An electronic notarization acknowledging a signature (in accordance with Section 101(g) of E-SIGN and State law applicable to notary publics) may be permitted by the Plan if the signature of the individual is witnessed in the physical presence of a notary public.