Change in Designation. If the name or address of the person designated to receive notices, demands, or communications is changed, written notice shall be given to the other party, in accordance with this section, within five (5) working days of said change.
Change in Designation. A Participant desiring to (1) change their form of benefit at cessation of services or (2) have a new spouse recognized for purposes of the Plan’s post-retirement surviving spouse benefit, must make such election prior to cessation of services and will receive the actuarially computed revised benefit commencing on the member’s effective date of cessation of services. The term “spouse” for purposes of benefit qualification, shall mean: (1) the person to whom the Participant was legally married to on the Participant’s date of death if such death occurs during DROP Participation; or (2) the person to whom the retirant was legally married on both the effective date of termination of employment and the retirant’s date of death if such death occurs after termination of Employment. The definition of “spouse” herein may be amended pursuant to an Eligible Domestic Relations Order entered pursuant to Michigan Public Act 46 of 1991, as amended (MCL 38.1701 et seq.).
Change in Designation. Executive hereby agrees and acknowledges that, as of the date that the Board appoints a new President and Chief Executive Officer, and such person commences employment, Executive shall no longer serve in the capacity of or use the title of President and Chief Executive Officer of the Company, but shall continue to serve the Company on the terms set forth in this Amendment. Executive further agrees and acknowledges that such change shall not be deemed to constitute a material diminution in Executive’s title, authority, duties or responsibilities or otherwise entitle Executive to resign with “Good Reason” pursuant to Section 8.17(j) of the Employment Agreement (other than for purposes of Section 6(a) hereunder), provided Executive has the new title, authority, duties or responsibilities provided for in this Amendment.
