Examples of OCN Committee in a sentence
Expenses against which a member of the OCN Committee or the Administrative Benefit Committee shall be indemnified hereunder shall include without limitation, the amount of any settlement or judgment, costs, counsel fees, and related charges reasonably incurred in connection with a claim asserted, or a proceeding brought or settlement thereof.
The rights of any individual who was a Participant and whose designation as a Participant is revoked or rescinded by the OCN Committee shall cease upon such action.
As a condition to receiving payments under the Plan, the OCN Committee may require that Participant to enter into a separate confidentiality and/or noncompetition agreement in a form acceptable to the Company.
Any responsibility or authority given under this Plan to either the Administrative Benefit Committee or the OCN Committee may be delegated by the respective committee.
The OCN Committee may change its designation of any individual officer as a Participant at any time; provided, however, that in any event an individual shall remain a Participant only so long as the individual remains an elected officer.
An Eligible Employee who is designated to participate in the Plan by the OCN Committee shall become a Participant in the Plan as of the date specified by the OCN Committee.
A Participant who is an employee of the Company shall continue to participate in the Plan until such date as the OCN Committee may declare that he or she is no longer a Participant or until the date that he or she is no longer an Eligible Employee.
For distributions on or after June 1, 2002, the election of the rollover option must be made either (i) at least six (6) months prior to the commencement of the receipt of benefits or (ii) at least one (1) month prior to the commencement of the receipt of benefits if the election is approved by the Administrative Benefit Committee or the OCN Committee in its absolute discretion.
For distributions prior to June 1, 2002, the Participant may elect the rollover option (regardless of whether the Participant has previously made an election with respect to the payment of the benefit under this Section 3.1), and such election shall be effective 10 days after the receipt of such election by the Administrative Benefit Committee or the OCN Committee.
Unless such action is prohibited by Section 8.1(b), the OCN Committee may revoke or rescind the designation of an individual as a Participant at its discretion.