Examples of Written Election in a sentence
The portion of Plan Year Compensation deferred pursuant to Section 3.1 and specified in the Written Election for a given Plan Year (or part of a Plan Year) may not be changed.
If a Key Employee will become a Participant after the first day of Plan Year, he shall have 30 days before or after his Entry Date to submit the Written Election.
If a Participant dies after a distribution under Sections 5.1, 5.2, 5.3, 5.5 or 5.6 of this Plan has commenced, the payments of such distribution otherwise due to the Participant will continue to his designated Beneficiary, in the applicable form elected by the Participant in his Written Election.
If a Participant fails to submit a Written Election within the period specified in this Section 2.4, he may not participate in the Plan until the first Entry Date of the next succeeding Plan Year (provided that he continues to be eligible under Section 2.1).
Benefits under the Plan shall be paid in the form associated with Type of Benefit to be received by the Participant under Section 5, and to the extent a Type of Benefit may be distributed in various forms, the Company shall pay benefits in the form elected by the Participant in his Written Election.
At that time, the Participant must make a new Written Election to make deferrals under the Plan as of the beginning of a Plan Year, provided he is still eligible to do so, as his previous election will not automatically be reinstated.
Such Written Election is only effective for the Plan Year for which the election is made and if no Written Election to defer Plan Year Compensation is executed in relation to a subsequent Plan Year, no Plan Year Compensation will be deferred for such subsequent Plan Year.
Notwithstanding anything contained herein to the contrary, the date and form of distribution selected on the Written Election made for the Plan Year beginning January 1, 2004, shall supercede any contrary election for any previous Plan Year.
Notwithstanding the foregoing, the portion of a Written Election directing the investment of the Participant’s Participant Deferral Account and Company Contribution Account shall remain in effect until modified by the Participant, notwithstanding the Participant’s termination of employment or cessation of active participation in the Plan.
A Participant may change the date or form of distribution by submitting a new Written Election to the Company, provided that such change is submitted at least sixty (60) days prior to the original date of distribution, the new date of distribution is subsequent to the original date of distribution, and only one change may be made after the original election.