Investment Media. The Administrative Committee, in its sole discretion may periodically designate certain mutual funds or other investment media among which the Participant may request that his or her Deferral Account should, for the purposes of Section 4.2, be deemed invested. Current referent investment media include Steelcase Phantom Stock and the Kent Money Market Fund. The Steelcase Phantom Stock valuation will be based on the weighted average price of the stock traded on the relevant Deferral Date or Valuation Date. The Mandatory Deferral shall be deemed invested in the Steelcase Phantom Stock. The remainder of the Participant's Deferral Account shall be deemed invested as the Participant elects. The Participant may alter his or her selection among the investment media either for the Participant's existing Deferral Account balance and/or future deferrals in one percent increments (or such other increments that the Administrative Committee may specify) once each Plan Year (or at such other intervals as the Administrative Committee may specify); provided that Mandatory Deferrals, as adjusted pursuant to Section 4.2, must remain deemed invested in the Steelcase Phantom Stock. In the absence of any written direction, the Participant's entire Deferral Account shall be deemed invested in the Steelcase Phantom Stock. A Participant's deemed investment selection shall remain in effect until changed by the Participant. The Administrative Committee may elect either to invest funds equal to the amounts credited to the Participant's Deferral Account as elected by the Participant, invest funds targeted to pay Plan obligations in any other manner or not make investments in connection with Plan obligations. The actual investment shall not affect the obligation of the Company to provide a benefit as if the Deferral Account were actually invested as suggested by the Participant. The Administrative Committee shall establish such procedures and forms as are appropriate to implement the fund selection process of this Section 4.3.
Investment Media. The Administrative Committee, in its sole discretion, may periodically designate certain mutual funds or other investment media (having varying risk/return characteristics) from which the Participant may request that his or her Deferral Account should, for purposes of Section 4.2 (Debits/Credits to Deferral Accounts), be deemed invested. The Participant may request that he or she be permitted to alter his or her selection among any such funds, either for the Participant's existing Deferral Account balance and/or future deferrals, in one percent increments (or in such other increments as the Administrative Committee may specify), once in each Plan Year quarter (or at other intervals selected by the Administrative Committee), to be effective as of the first day of the next Plan Year quarter (or at other times specified by the Administrative Committee). Subaccounts within each Deferral Account shall be deemed invested pro rata within the funds selected by the Participant. The Administrative Committee may elect either to invest deferred amounts as elected by the Participant, invest the deferred amounts in any other manner or not invest the deferred amounts. The actual investment of any Deferral Account shall not affect the obligation of the Company to provide a benefit as if the Deferral Account were actually invested as suggested by the Participant. The Administrative Committee shall establish such procedures and forms as are appropriate to implement the fund selection process of this Section 4.3.
