Dividends on Allocated Company Stock. Any dividends paid on Company Stock held in the Company Stock Component shall be allocated to Participants’ Accounts accordingly. Any such dividends will be paid to the Plan and, as directed by the Independent Fiduciary, reinvested in Company Stock in accordance with Section 404(k)(2)(A)(iii) of the Code, and such Participants will be fully vested at all times in such dividends. Notwithstanding the foregoing, within a reasonable time before payment of the dividends, the Participants will be given the opportunity to make an affirmative election, in accordance with the procedures established by the Plan Administrator, to receive their dividends in cash. Any election so made shall continue in effect until changed by the Participant. If a Participant elects to receive his dividend in cash, the Trustee, if directed in writing by the Company, will pay, in cash, any cash dividend on the Company Stock allocated or allocable to the Participant’s Account. The Company’s direction must state whether the Trustee is to pay the cash dividend distributions currently or within the 90-day period following the close of the Plan Year in which the Company pays the dividends to the Trust.
