Common use of Participant Elections Clause in Contracts

Participant Elections. Any election made by a SpinCo Group Employee, Former SpinCo Group Employee and Transferred Director under the Parent Deferred Compensation Plan, including without limitation those with respect to compensation deferral, investments, optional forms of benefit, benefit commencement and beneficiaries, shall be recognized for the same purposes under the SpinCo Deferred Compensation Plan. No new elections shall be permitted under the Parent Deferred Compensation Plan and SpinCo Deferred Compensation Plan as a result of the Separation.

Participant Elections. Any election made by a SpinCo Group Employee, Former SpinCo Group Employee and Transferred Director under the Parent Company Deferred Compensation PlanPlans, including without limitation those with respect to compensation deferral, investments, optional forms of benefit, benefit commencement and beneficiaries, shall be recognized for the same purposes under the SpinCo Executive Deferral Plan or the applicable SpinCo Deferred Compensation Plan. No new elections shall be permitted under the Parent Company Deferred Compensation Plans, the SpinCo Executive Deferred Plan and SpinCo Deferred Compensation Plan Plans as a result of the SeparationDistribution.