Additional Rules for Payout Elections Sample Clauses
The "Additional Rules for Payout Elections" clause defines specific procedures and conditions that govern how parties may choose to receive payments under an agreement. It typically outlines the available payout options, such as lump sum or installment payments, and may set deadlines, notification requirements, or eligibility criteria for making such elections. By establishing clear rules for payout elections, this clause ensures that both parties understand their choices and obligations, reducing the risk of disputes or confusion regarding payment methods.
Additional Rules for Payout Elections. The Committee has complete discretion to establish procedures for the completion of payout elections, including the acceptable forms and formats of the payout election. The Committee has complete discretion to establish deadlines for the completion of payout elections, within the bounds described in this section. The Committee may establish default choices in the absence of an affirmative Participant election.