Potential Participants means the directors, officers, advisors, consultants and other personnel of the Company, New York Recovery Advisors, LLC (the "Advisor"), New York Recovery Properties, LLC (the "Property Manager"), and affiliates, personnel of the Advisor, the Property Manager and affiliates, and any joint venture affiliates of the Company. (v)
Each determination, interpretation or other action made or taken pursuant to the provisions of this Plan by the Committee shall be final, conclusive and binding for all purposes and upon all persons, including, without limitation, the holders of any Options and the Potential Participants and their respective heirs, executors, administrators, personal representatives and other successors in interest.
The Potential Participants preference must be received on or before October 31 of the year in which said Section 2(c) notice was received.
The Potential Participants preference must be received in the period beginning 365 days prior to and ending no less than 90 days prior to the Participants retirement date at age 55 or above except that if a Potential Participant is notified of layoff during or after the year in which the Potential Participant reaches age 50, the Potential Participants preference must be received no later than 30 days after being notified of layoff.
The Potential Participants election shall become irrevocable on December 31 of the year in which said Section 2(a) notice was received (except in the case of an election for an Award under an Incentive Compensation Plan determined by the Plan Administrator to be performance-based compensation under Code section 409A, the election shall become irrevocable on June 30 of the year for which the Award is to be made), subject to the provisions Section 5(d).
Subject to Paragraph (g) of this Section, if the Committee or CEO, as appropriate, accepts the Potential Participants indication of preference, the election of the method of payment of the amount deferred shall become irrevocable.