Common use of Changing of Elections Clause in Contracts

Changing of Elections. I recognize that I may, by submitting an effective superseding election, file new elections under paragraph 3. Such superseding election shall be effective on the first day of the 13th month after I make such election only if (i) I make the election at least 12 months prior to the date that the Shares would have been distributed (or begun to be distributed) to me pursuant to my initial election and (ii) the election defers my receipt of Shares for at least 5 years from the date that the Shares would have been distributed (or begun to be distributed) to me pursuant to my initial election.

Changing of Elections. I recognize that I may, The elections made in paragraph 3 hereof may be changed by submitting an effective superseding election, file new elections under paragraph 3election in accordance with this paragraph. Such superseding election shall be effective on the first day of the 13th month after I make such election only if (i) I make the election at least 12 months prior to the date that the Shares would have been distributed (or begun to be distributed) to me pursuant to my initial election and (ii) the election defers my receipt of Shares for at least 5 years from the date that the Shares would have been distributed (or begun to be distributed) to me pursuant to my initial election.