Common use of Election Period Clause in Contracts

Election Period. The period during which the election, provided for in (a) above, may be made shall commence with the date the amendment is adopted or deemed to be made, and shall end on the latest of: (1) sixty (60) days after the amendment is adopted; (2) sixty (60) days after the amendment becomes effective; or (3) sixty (60) days after a Participant is issued written notice of the amendment by the Employer or Plan Administrator. Notwithstanding any vesting schedule specified in the Adoption Agreement, if this is an amendment and restatement of the Plan, then the vested percentage of a Participant’s Discretionary Account or Matching Account shall not be less than the vested percentage attained for the Discretionary Account or Matching Account, as applicable, as of the later of the effective date or adoption date of this amendment and restatement.

Election Period. The period during which the election, provided for in (a) above, may be made shall commence with the date the amendment is adopted or deemed to be made, and shall end on the latest of: (1) sixty (60) days after the amendment is adopted; (2) sixty (60) days after the amendment becomes effective; or (3) sixty (60) days after a Participant is issued written notice of the amendment by the Employer or Plan Administrator. Notwithstanding any vesting schedule specified in the Adoption Agreement, if this is an amendment and restatement of the Plan, then the vested percentage of a Participant’s 's Discretionary Account or Matching Account shall not be less than the vested percentage attained for the Discretionary Account or Matching Account, as applicable, as of the later of the effective date or adoption date of this amendment and restatement.