Examples of Prior Election in a sentence
If the Participant modifies only the form, and not the commencement date for payment, payments shall commence on the fifth anniversary of the date payment would have commenced under the Prior Election.
The date payments are to commence under the modified Payment Schedule must be no earlier than five years after the date payment would have commenced under the Prior Election.
Amounts that are deferred under this Plan pursuant to a Prior Election shall be treated as subject to a Retirement Election or a Date Certain Election, as specified in the Prior Election.
Each such Account shall be credited as of the relevant Payment Date with the amounts of all Deferred Compensation, including to the extent applicable Deferred Compensation pursuant to a Prior Election.
The date payments are to commence under the modified Payment Schedule must be no earlier than five (5) years after the date payment would have commenced under the Prior Election.
The calendar year in which payments are to commence under the modified Payment Schedule must be no earlier than the fifth calendar year after the calendar year payment would have commenced under the Prior Election.
If the Participant modifies only the form, and not the commencement date for payment, payments shall commence in the fifth calendar year following the calendar year payment would have commenced under the Prior Election.
For a Participant who does not make a New Election, such Participant's prior election, as in effect immediately preceding January 1, 1999 (the "Prior Election"), shall be deemed to be his or her irrevocable New Election except that, with respect to any amount that was determined based on the Share Unit Rate, the Participant shall be deemed to have made a New Election to have such amount determined in accordance with the Share Equivalent Rate.
If the Participant modifies only the form, and not the commencement date for payment, payments shall commence on the fifth (5th) anniversary of the date payment would have commenced under the Prior Election.
The modification election must be submitted to the Committee not less than 12 months prior to the date payments would have commenced as in effect prior to modification (the “Prior Election”) (in the case of installment payments, which shall be treated as a single payment, 12 months prior to the date the first amount was scheduled to be paid under the Prior Election).