ELECTION OF FORMER SCHEDULE Sample Clauses

ELECTION OF FORMER SCHEDULE. In the event the Company adopts an amendment to the Plan that directly or indirectly affects the computation of a Participant's nonforfeitable interest in his Annual Employer Contributions Account or Profit Sharing Contributions Account, any Participant with three or more years of vested service shall have a right to have his nonforfeitable interest in such Separate Accounts continue to be determined under the vesting schedule in effect prior to such amendment rather than under the new vesting schedule, unless the nonforfeitable interest of such Participant in such Separate Accounts under the Plan, as amended, at any time, is not less than such interest determined without regard to such amendment. Such Participant shall exercise such right by giving written notice of his exercise thereof to the 61 - 56 - Company within 60 days after the latest of (a) the date he received notice of such amendment of the Company, (b) the Effective Date of the amendment, or (c) the date the amendment is adopted. Notwithstanding the foregoing provisions of this Section 11.5, the vested interest of each Participant on the Effective Date of such amendment shall not be less than his vested interest under the Plan as in effect immediately prior to the Effective Date thereof.
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Related to ELECTION OF FORMER SCHEDULE

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