Common use of Investment Directions Clause in Contracts

Investment Directions. (a) Responsibility for directing the Trustee with respect to the investment of the Trust Fund shall be allocated to the Employer, or a named fiduciary appointed by the Employer for that purpose (the "Named Investment Fiduciary"), the Participants, or any investment manager (an "Investment Manager"), who meets the requirements of Section 3(38) of the Employee Retirement Income Security Act of 1974 (ERISA) appointed by the Named Investment Fiduciary, all as provided in the Plan (including the Adoption Agreement). To the extent investment responsibility is allocated to the Participant, the Designated Beneficiary of a deceased Participant shall discharge the responsibility subsequent to the Participant's death and any reference to the Participant in any provision of the Plan pertaining to investment directions shall in such event be construed as a reference to the Designated Beneficiary. (b) Investment directions shall be given in a manner and form prescribed by the Trustee and shall be subject to such limitations, including limitations as to the frequency with which any standing investment instructions may be changed and funds may be moved among investment choices, as the Employer or other Named Investment Fiduciary shall prescribe. If Investment responsibility is allocated to Participants, to the extent permitted by the Trustee, investment directions may be given directly to the Service Company in a manner and form prescribed by the Service Company. (c) Cash for which no investments are directed shall be automatically invested in such investment or investments as the Employer or other Named Investment Fiduciary shall select from the investments the Service Company makes available for that purpose unless and until the person responsible for giving directions directs otherwise. Such automatic investment shall be made at regular intervals and pursuant to procedures provided by the Service Company (which procedures may, without limitation, provide for more frequent intervals only if reinvested balances exceed a stated amount). Absent a contrary direction in accordance with the preceding provisions of Section 13.2 the Service Company is hereby directed to make such automatic investments. Notwithstanding other provisions of the Plan to the contrary, if another qualified plan is amended and restated in the form of this Plan, the Employer or the named investment fiduciary shall have the power to prescribe rules regarding the investment of the assets held under the other qualified plan until such time as any resulting reconciliation of Participant Accounts is completed and the assets may be reinvested in investments permitted under Section 13.4 of the Plan.

Investment Directions. In order to provide for an accumulation of assets comparable to the contractual liabilities accruing under the Plan, the Sponsor may direct the Trustee in writing to invest the assets held in the Trust to correspond to the hypothetical investments made for Participants under the Plan. Such directions may be made by Participants by use of a Participant service representative, the Voice Response System ("VRS"), the internet or such other electronic means as may be agreed upon from time to time by the Sponsor and the Trustee, maintained for such purposes by the Trustee or its agents, in accordance with Schedule "E." In the event that the Trustee fails to receive a proper direction from the Sponsor or from Participants regarding investments for Participant deferrals, the deferrals shall be invested in the Xxxxx'x Baa Index until the Trustee receives a proper direction. However for assets in the TIP Restoration source, in the event that the Trustee fails to receive a proper direction from the Sponsor or from Participants, regarding investments for Participant deferrals, the deferrals shall be invested in the Fidelity Money Market Trust: Retirement Money Market Portfolio until the Trustee receives a proper direction. All assets received into the Trust for which no direction has been received by the Trustee shall be invested in Fidelity Institutional Money Market: Portfolio Class I. The Sponsor's designation of available investment options under paragraphs (a) Responsibility and (b) above, the maintenance of accounts for directing each Participant and the Trustee crediting of investments to such accounts, the giving of investment directions by Participants under this paragraph (c), and the exercise by Participants of any other powers relating to investments under this Section 5 are solely for the purpose of providing a mechanism for measuring the obligation of the Sponsor to any particular Participant under the applicable Plan. As provided in Section 2(c) above, no Participant or beneficiary will have any preferential claim to or beneficial ownership interest in any asset or investment, and the rights of any Participant and his or her beneficiaries under the applicable Plan and this Agreement are solely those of an unsecured general creditor of the Sponsor with respect to the investment benefits of the Trust Fund shall be allocated to the Employer, or a named fiduciary appointed by the Employer for that purpose (the "Named Investment Fiduciary"), the Participants, or any investment manager (an "Investment Manager"), who meets the requirements of Section 3(38) of the Employee Retirement Income Security Act of 1974 (ERISA) appointed by the Named Investment Fiduciary, all as provided in the Plan (including the Adoption Agreement). To the extent investment responsibility is allocated to the Participant, the Designated Beneficiary of a deceased Participant shall discharge the responsibility subsequent to the Participant's death and any reference to the Participant in any provision of the Plan pertaining to investment directions shall in such event be construed as a reference to the Designated Beneficiary. (b) Investment directions shall be given in a manner and form prescribed by the Trustee and shall be subject to such limitations, including limitations as to the frequency with which any standing investment instructions may be changed and funds may be moved among investment choices, as the Employer or other Named Investment Fiduciary shall prescribe. If Investment responsibility is allocated to Participants, to the extent permitted by the Trustee, investment directions may be given directly to the Service Company in a manner and form prescribed by the Service Company. (c) Cash for which no investments are directed shall be automatically invested in such investment or investments as the Employer or other Named Investment Fiduciary shall select from the investments the Service Company makes available for that purpose unless and until the person responsible for giving directions directs otherwise. Such automatic investment shall be made at regular intervals and pursuant to procedures provided by the Service Company (which procedures may, without limitation, provide for more frequent intervals only if reinvested balances exceed a stated amount). Absent a contrary direction in accordance with the preceding provisions of Section 13.2 the Service Company is hereby directed to make such automatic investments. Notwithstanding other provisions of the Plan to the contrary, if another qualified plan is amended and restated in the form of this Plan, the Employer or the named investment fiduciary shall have the power to prescribe rules regarding the investment of the assets held under the other qualified plan until such time as any resulting reconciliation of Participant Accounts is completed and the assets may be reinvested in investments permitted under Section 13.4 of the Plan.

Investment Directions. (a) Responsibility for directing the Trustee with respect to the investment of the Trust Fund shall be allocated to the Employer, or a another named fiduciary appointed by the Employer for that purpose (the "Named Investment Fiduciary"), or the Participants, or any investment manager (an "Investment Manager"), ) who meets the requirements of Section section 3(38) of the Employee Retirement Income Security Act of 1974 (ERISA) ERISA appointed by the Named Investment FiduciaryFiduciary to manage all or a portion of the Trust Fund, all as provided in the Plan (including the Adoption Agreement). Unless otherwise provided in the Adoption Agreement, each Participant shall have the responsibility for directing the investment of the assets allocated to his Account from among the investment options selected by the Named Investment Fiduciary, one or more of which options may be pools of investments permitted by Section 10.4 the investment of which is directed by an Investment Manager. To the extent investment responsibility is allocated to the ParticipantParticipants, the Designated Beneficiary of a deceased Participant shall discharge the responsibility subsequent to the Participant's death and any reference to the Participant in any provision of the Plan pertaining to investment directions shall in such event be construed as a reference to the Designated Beneficiary. Notwithstanding the foregoing, and regardless of a Participant's authority to direct the investment of assets allocated to his Account, the Named Investment Fiduciary is authorized and empowered to direct the Trustee to invest funds in short term investments pending other investment instructions by the Plan Administrator. (b) Investment directions shall be given in a manner and form prescribed by the Trustee and shall be subject to such limitations, including limitations as to the frequency with which any standing investment instructions may be changed and funds may be moved among investment choices, as the Employer or other Named Investment Fiduciary shall prescribe. If Investment investment responsibility is allocated to Participants, to the extent permitted by the Trustee, investment directions may be given directly to the Service Company in a manner and form prescribed by the Service Company. (c) Cash for which no investments are directed shall be automatically invested in such investment or investments as the Employer or other Named Investment Fiduciary shall select from the investments the Service Company makes available for that purpose unless and until the person responsible for giving directions directs otherwise. Such automatic investment shall be made at regular intervals and pursuant to procedures provided by the Service Company (which procedures may, without limitation, provide for more frequent intervals only if reinvested balances exceed a stated amount). Absent a contrary direction in accordance with the preceding provisions of Section 13.2 the Service Company is hereby directed to make such automatic investments. Notwithstanding other provisions of the Plan to the contrary, if another qualified plan Qualified Plan is amended and restated in the form of this Plan, the Employer or the named investment fiduciary Named Investment Fiduciary shall have the power to prescribe rules regarding the investment of the assets held under the other qualified plan Qualified Plan until such time as any resulting reconciliation of Participant Accounts is completed and the assets may be reinvested in investments permitted under Section 13.4 10.4 of the Plan. (d) Notwithstanding other provisions of the Plan to the contrary, if securities issued by the Employer or any Affiliate are permissible investments pursuant to Section 10.2, the Employer or Named Investment Fiduciary may prepare a written document, the provisions of which shall be applicable only with respect to officers and directors who are subject to the provisions of Section 16(b) of the Securities Exchange Act of 1934 with respect to their transactions in such securities, setting forth such restrictions on and procedures applicable to such persons' salary deferral elections, investment directions and withdrawals as, in the Employer's or Named Investment Fiduciary's judgment, are necessary or appropriate for the Plan and such transactions to meet the conditions of an applicable exemption from the provisions of such Section 16(b), the provisions of which written document are incorporated herein by this reference.

Investment Directions. (a) Responsibility for directing the Trustee with respect to the investment of the Trust Fund shall be allocated to the Employer, or a named fiduciary appointed by the Employer for that purpose (the "Named Investment Fiduciary"), the Participants, or any investment manager (an "Investment Manager"), who meets the requirements of Section 3(38) of the Employee Retirement Income Security Act of 1974 (ERISA) appointed by the Named Investment Fiduciary, all as provided in the Plan (including the Adoption Agreement). To the extent investment responsibility is allocated to the Participant, the Designated Beneficiary of a deceased Participant shall discharge the responsibility subsequent to the Participant's Participant?s death and any reference to the Participant in any provision of the Plan pertaining to investment directions shall in such event be construed as a reference to the Designated Beneficiary. (b) Investment directions shall be given in a manner and form prescribed by the Trustee and shall be subject to such limitations, including limitations as to the frequency with which any standing investment instructions may be changed and funds may be moved among investment choices, as the Employer or other Named Investment Fiduciary shall prescribe. If Investment responsibility is allocated to Participants, to the extent permitted by the Trustee, investment directions may be given directly to the Service Company in a manner and form prescribed by the Service Company. (c) Cash for which no investments are directed shall be automatically invested in such investment or investments as the Employer or other Named Investment Fiduciary shall select from the investments the Service Company makes available for that purpose unless and until the person responsible for giving directions directs otherwise. Such automatic investment shall be made at regular intervals and pursuant to procedures provided by the Service Company (which procedures may, without limitation, provide for more frequent intervals only if reinvested balances exceed a stated amount). Absent a contrary direction in accordance with the preceding provisions of Section 13.2 the Service Company is hereby directed to make such automatic investments. Notwithstanding other provisions of the Plan to the contrary, if another qualified plan is amended and restated in the form of this Plan, the Employer or the named investment fiduciary shall have the power to prescribe rules regarding the investment of the assets held under the other qualified plan until such time as any resulting reconciliation of Participant Accounts is completed and the assets may be reinvested in investments permitted under Section 13.4 of the Plan.

Investment Directions. (aA) Responsibility for directing the Trustee with respect to the investment of the Trust Fund shall be allocated to the Employer, or a named fiduciary appointed by the Employer for that purpose (the "Named Investment Fiduciary"), the Participants, or any investment manager (an "Investment Manager"), who meets the requirements of Section 3(38) of the Employee Retirement Income Security Act of 1974 (ERISA) appointed by the Named Investment Fiduciary, all as provided in the Plan (including the Adoption Agreement). To the extent investment responsibility is allocated to the Participant, the Designated Beneficiary of a deceased Participant shall discharge the responsibility subsequent to the Participant's death death, and any reference to the Participant in any provision of the Plan pertaining to investment directions shall in such event be construed as a reference to the Designated Beneficiary. (bB) Investment directions shall be given in a manner and form prescribed by the Trustee and shall be subject to such limitations, including limitations as to the frequency with which any standing investment instructions may be changed and funds may be moved among investment choices, as the Employer or other Named Investment Fiduciary shall prescribe. If Investment responsibility is allocated to Participants, to the extent permitted by the Trustee, investment directions may be given directly to the Service Company in a manner and form prescribed by the Service Company. (cC) Cash for which no investments are directed shall be automatically invested in such investment or investments as the Employer or other Named Investment Fiduciary shall select from the investments the Service Company makes available for that purpose unless and until the person responsible for giving directions directs otherwise. Such automatic investment shall be made at regular intervals and pursuant to procedures provided by the Service Company (which procedures may, without limitation, provide for more frequent intervals only if reinvested balances exceed a stated amount). Absent a contrary direction in accordance with the preceding provisions of Section 13.2 13.2, the Service Company is hereby directed to make such automatic investments. Notwithstanding other provisions of the Plan to the contrary, if another qualified plan is amended and restated in the form of this Plan, the Employer or the named investment fiduciary shall have the power to prescribe rules regarding the investment of the assets held under the other qualified plan until such time as any resulting reconciliation of Participant Accounts is completed and the assets may be reinvested in investments permitted under Section 13.4 of the Plan.