Waiver Election Sample Clauses

Waiver Election. There is no limit on the number of times the Participant may revoke a waiver of the qualified joint and survivor annuity or make a new waiver during the election period (which, subject to Section D of this Article III, is the 90-day period ending on the annuity starting date). The spouse may execute a blanket consent to any form of payment designation or to any Beneficiary designation made by the Participant, if the spouse acknowledges the right to limit that consent to a specific designation but, in writing, waives that right. The consent requirements of this paragraph apply to a former spouse of the Participant, to the extent required under a Qualified Domestic Relations Order.
Sample 1
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Waiver Election. Preretirement Survivor 1.16 Nonforfeitable 5 Annuity 8 1.17 Plan Year/Limitation Year 5 6.07 Distributions Under Domestic 1.18 Effective Date 5 Relations Orders 8 1.19 Plan Entry Date 5 ARTICLE VII, EMPLOYER ADMINISTRATIVE 1.20 Accounting Date 5 PROVISIONS 1.21 Trust 5 7.01 Information to Committee 1 1.22 Trust Fund 5 7.02 No Liability 1 1.23 Nontransferable Annuity 5 7.03 Indemnity of Certain Fiduciaries 1 1.24 ERISA 5 7.04 Employer Direction of Investment 1 1.25 Code 5 7.05 Amendment to Vesting Schedule 1 1.26 Service 5 ARTICLE VIII, PARTICIPANT ADMINISTRATIVE 1.27 Hour of Service 5 PROVISIONS 1.28 Disability 7 8.01 Beneficiary Designation 1 1.29 Service for Predecessor Employer 7 8.02 No Beneficiary Designation/Death 1.30 Related Employers 7 of Beneficiary 1 1.31 Leased Employees 8 8.03 Personal Data to Committee 2 1.32 Special Rules for Owner-Employees 8 8.04 Address for Notification 2 1.33 Determination of Top Heavy Status 9 8.05 Assignment or Alienation 2 1.34 Paired Plans 10 8.06 Notice of Change in Terms 2 ARTICLE II, EMPLOYEE PARTICIPANTS 8.07 Litigation Against the Trust 2 2.01 Eligibility 1 8.08 Information Available 2 2.02 Year of Service - Participation 1 8.09 Appeal Procedure for Denial 2.03 Break in Service - Participation 1 of Benefits 2 2.04 Participation upon Re-employment 1 8.10 Participant Direction of Investment 3 2.05 Change in Employee Status 2 ARTICLE IX, ADVISORY COMMITTEE - DUTIES 2.06 Election Not to Participate 2 WITH RESPECT TO PARTICIPANTS' ACCOUNTS ARTICLE III, EMPLOYER CONTRIBUTIONS AND 9.01 Members' Compensation, Expenses 1 FORFEITURES 9.02 Term 1 3.01 Amount 1 9.03 Powers 1 3.02 Determination of Contribution 1 9.04 General 1 3.03 Time of Payment of Contribution 1 9.05 Funding Policy 2 3.04 Contribution Allocation 1 9.06 Manner of Action 2 3.05 Forfeiture Allocation 3 9.07 Authorized Representative 2 3.06 Accrual of Benefit 3 9.08 Interested Member 2 3.07 - 3.16 Limitations on Allocations 5 9.09 Individual Accounts 2 3.17 Special Allocation Limitation 7 9.10 Value of Participant's Accrued Benefit 2 3.18 Defined Benefit Plan Limitation 7 9.11 Allocation and Distribution of 3.19 Definitions - Article III 7 Net Income Gain or Loss 3 ARTICLE IV, PARTICIPANT CONTRIBUTIONS 9.12 Individual Statement 3 4.01 Participant Nondeductible Contributions 1 9.13 Account Charged 4 4.02 Participant Deductible Contributions 1 9.14 Unclaimed Account Procedure 4 4.03 Participant Rollover Contributions 1 ARTICLE X, TRUSTEE AND CUSTODIAN, POWERS 4...
Sample 1
Waiver Election. Preretirement Survivor Annuity............. 46 6.14 Direct Rollover/Transfer Provisions.......................... 47 ARTICLE VII
Sample 1

Related to Waiver Election

  • 83(b) Election You may make and file with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the grant of the Restricted Shares hereunder, electing to include in your gross income as of the Grant Date the Fair Market Value of the Restricted Shares as of the Grant Date. You shall promptly provide a copy of such election to the Company. If you make and file such an election, you shall make such arrangements in accordance with Section 8 as are satisfactory to the Committee to provide for the timely payment of all applicable withholding taxes.

  • Section 83(b) Election Purchaser understands that Section 83(a) of the Code, taxes as ordinary income the difference between the amount paid for the Stock and the fair market value of the Stock as of the date any restrictions on the Stock lapse. In this context, "restriction" includes the right of the Company to buy back the Stock pursuant to the Repurchase Option set forth in Section 2(a) above. Purchaser understands that Purchaser may elect to be taxed at the time the Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) of the Code (an "83(b) Election") with the Internal Revenue Service in the form attached hereto as Exhibit C within thirty (30) days from the date the Stock is purchased. Even if the fair market value of the Stock at the time of the execution of this Agreement equals the amount paid for the Stock, the 83(b) Election must be made to avoid income under Section 83(a) of the Code in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Purchaser. Purchaser further understands that an additional copy of such 83(b) Election is required to be filed with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser acknowledges and understands that it is solely Purchaser's obligation and responsibility to timely file such 83(b) Election, and neither the Company nor the Company's legal or financial advisors shall have any obligation or responsibility with respect to such filing. Purchaser acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase of the Stock hereunder and does not purport to be complete. Purchaser further acknowledges that the Company has directed Purchaser to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser's death. Purchaser assumes all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or the lapse of the restrictions on the Stock.

  • Joint Election As a condition of the Units granted hereunder, you agree to accept any liability for secondary Class 1 National Insurance Contributions (the “Employer NICs”), which may be payable by the Company or your Employer with respect to the Units and/or payment of the Units and issuance of Shares pursuant to the Units, the assignment or release of the Units for consideration, or the receipt of any other benefit in connection with the Units. Without limitation to the foregoing, you agree to make an election (the “Election”), in the form specified and/or approved for such election by HMRC, that the liability for your Employer NICs payments on any such gains shall be transferred to you to the fullest extent permitted by law. You further agree to execute such other elections as may be required between you and any successor to the Company and/or your Employer. You hereby authorize the Company and your Employer to withhold such Employer NICs by any of the means set forth in Section III of the Agreement. Failure by you to enter into an Election, withdrawal of approval of the Election by HMRC or a joint revocation of the Election by you and the Company or your Employer, as applicable, shall be grounds for the forfeiture and cancellation of the Units, without any liability to the Company or your Employer.

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

  • Section 754 Election In the event of a distribution of the Fund's property to a Member or an assignment or other transfer (including by reason of death) of Units of a Member in the Fund, at the request of a Member, the Board, in its sole and absolute discretion, may cause the Fund to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Fund's property as provided by Sections 734 and 743 of the Code.

  • Spousal Consent If any individual Stockholder is married on the date of this Agreement, such Stockholder’s spouse shall execute and deliver to the Company a consent of spouse in the form of Exhibit B hereto (“Consent of Spouse”), effective on the date hereof. Notwithstanding the execution and delivery thereof, such consent shall not be deemed to confer or convey to the spouse any rights in such Stockholder’s Shares that do not otherwise exist by operation of law or the agreement of the parties. If any individual Stockholder should marry or remarry subsequent to the date of this Agreement, such Stockholder shall within thirty (30) days thereafter obtain his/her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement by causing such spouse to execute and deliver a Consent of Spouse acknowledging the restrictions and obligations contained in this Agreement and agreeing and consenting to the same.

  • Section 336(e) Election If UTC determines, in its sole discretion, that one or more protective elections under Section 336(e) of the Code (each, a “Section 336(e) Election”) shall be made with respect to the Carrier Distribution, the Otis Distribution, and/or any of the Internal Distributions, the relevant SpinCo(s) shall (and shall cause any relevant member of such SpinCo Group(s) to) join with UTC and/or any relevant member of the UTC Group, as applicable, in the making of any such election and shall take any action reasonably requested by UTC or that is otherwise necessary to give effect to any such election (including making any other related election). If a Section 336(e) Election is made with respect to the Carrier Distribution, the Otis Distribution, and/or any of the Internal Distributions, then this Agreement shall be amended in such a manner as is determined by UTC in good faith to take into account such Section 336(e) Election(s), including by requiring that, in the event (a) any Contribution, Distribution, or Internal Distribution fails to have U.S. Tax-Free Status and (b) a Company (or such Company’s Group) that does not have exclusive responsibility pursuant to this Agreement for Tax-Related Losses arising from such failure actually realizes in cash a Tax Benefit from the step-up in Tax basis resulting from the relevant Section 336(e) Election(s), such Company shall pay over to the Company that has exclusive responsibility pursuant to this Agreement for such Tax-Related Losses any such Tax Benefits realized (provided, that, if such Tax-Related Losses are Shared Taxes or Taxes for which more than one Company is liable under Section 7.05(c)(i), the Company that actually realizes in cash the Tax Benefit resulting from the relevant Section 336(e) Election shall pay over to each of the other Companies responsible for such Taxes the percentage of any such Tax Benefits realized that corresponds to each such Company’s percentage share of such Taxes).

  • Lender Elections to Increase Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase its Commitment.

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • Conversion and Continuation Elections (a) The Borrower may, upon irrevocable written notice to the Agent in accordance with this Section 2.5:

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