MODIFYING ELECTIONS Clause Samples
MODIFYING ELECTIONS. An Employee, on a prospective basis, may increase or may decrease his salary reduction percentage or dollar amount: (Choose one)
(1) As of the beginning of each payroll period.
(2) As of the first day of each quarter. [X] (3) As of any Plan Entry Date. [ ] (4) (Specify at least once per Plan Year) _______________ _____________________________________________________________.
MODIFYING ELECTIONS. A Participant may modify a prior election as to the time at which a Participant's Deferral Account (including a specified subaccount) will be settled at any time prior to the time the Participant ceases to serve as a director, subject to such requirements as may be specified by the Company. Such modification shall be made by filing a new election with the Company. The foregoing notwithstanding, the Board may disapprove or limit elections under this Section 8(f)(iv) in order to ensure that the Participant will not be deemed to have constructively received compensation in respect of the Participant's Deferral Account prior to settlement.