Election of Measurement Funds Sample Clauses

Election of Measurement Funds. At the time each Participant makes his initial election under the Plan in accordance with Section 2.2, the Participant shall elect one or more Measurement Funds that shall be used to determine the additional amounts, if any, to be credited to his Plan Account for the first calendar quarter or portion thereof in which he participates in the Plan and continuing thereafter, unless changed as provided in the next sentences. All allocations among Measurement Funds shall be made in increments of at least one percent (1%). Commencing with the first calendar quarter that follows the Participant's commencement of participation in the Plan, no later than the fifth (5th) business day preceding the last business day of the calendar quarter, the Participant may elect, by submitting an Election Form to the Committee that is actually received and accepted by the Committee, to add or delete one or more Measurement Funds, to change the allocation of his Plan Account among Measurement Funds, or both. Elections made according to the previous sentence shall become effective on the next business day following the Committee's actual receipt and acceptance of the Election Form and shall continue in effect until the Participant makes a subsequent election in accordance with the preceding sentence. The Committee may permit Participants to change their elections more frequently. The Committee may adopt additional rules and procedures for making changes that it deems, in its sole discretion, to be necessary or appropriate. If a Participant fails to elect at least one Measurement Fund, amounts, if any, to be credited to his Plan Account shall be determined by the Measurement Fund designated by the Committee as the default Measurement Fund. Notwithstanding the foregoing, nothing contained in this Plan shall be construed to require the Committee to make Measurement Funds available to Participants, and in lieu thereof the manner in which additional amounts may be credited or debited from Plan Accounts may be determined by the Company or the Trustee.
Sample 1
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Related to Election of Measurement Funds

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