PARTICIPATION ELECTIONS. Salary Deferral Elections
PARTICIPATION ELECTIONS. Salary Deferral Elections I hereby apply for Participation in the above-named 403(b) Plan and direct my employer to withhold through payroll reduction the following amounts from each pay. I understand this election will be applied to future contributions only and will remain in effect until I direct new elections through the Plan’s Internet or Voice Response System. NOTE: I understand that if I am 50 years of age or will reach the age of 50 during this calendar year any contribution deferrals in excess of the traditional salary will be applied to the Age 50 Catch-up option. Election to Defer Participation Election to Revoke Participation I do not want to participate in the Plan at this time. I understand that I may change this election by completing a new Enrollment Form prior to the next Plan Entry Date. Please discontinue my Salary Deferral Contributions to the Plan. I understand that I will be able to resume participation by completing a new Enrollment Form prior to the next Plan Entry Date. I direct my new money to be invested in the funds selected below. I understand these investment directions will remain in effect until I direct new elections through the Plan’s web site or voice response system. Investment Elections Fund Name Amount to Traditional 403(b) (Per Pay Period) AXA Equitable By signing this Agreement, Xxxxxxxx agrees to modify his/her salary as indicated above and Employer agrees to contribute this amount on Employee’s behalf into the 403(b) annuity(ies) or custodial account(s) selected by Employee and authorized by the Employer. It is intended that the requirements of all applicable state and federal tax rules and regulations (Applicable Law) will be met. Employee understands and agrees that this Agreement:
PARTICIPATION ELECTIONS. Failure to Elect (Default Elections)
1. Prior Plan Year elections will automatically apply to the applicable Plan Year:
a. [ X ] Yes
b. [ ] No Change in Status
2. An Eligible Employee may change his or her election upon the following Change in Status events:
a. [ ] None
b. [ X ] At any time permitted under Treas. Reg. section 1.125-4 and other times permitted by IRS guidance
c. [ ] Pursuant to Plan Administrator written procedures, which are incorporated herein by reference
d. [ ] Other:
PARTICIPATION ELECTIONS. Pursuant to the Drilling Program, and during each phase thereof, PetroQuest shall send WSGP an AFE for each well to be drilled hereunder detailing (i) the proposed location of the well along with the geological and geophysical justification for such location; (ii) the estimated drilling and completion costs for such well specifying WSGP’s share of such costs (either on a carried or heads-up basis, as applicable); (iii) the proposed Spud Date for such well; and (iv) customary title information and any other information reasonably material to WSGP’s decision whether or not to participate therein. WSGP shall have thirty (30) days from receipt of each AFE to elect, in writing to PetroQuest, to participate or not participate in the applicable well. For each Program Well or PUD Well in which WSGP elects to participate, PetroQuest shall send WSGP a cash call notice for WSGP’s proportionate share of the AFE cost for such well no earlier than fifteen (15) days prior to the estimated Spud Date for such well. WSGP shall pay the cash called amount for such well to PetroQuest within five (5) Business Days of receipt of the cash call notice, and shall thereafter be responsible, subject to Section 4.3, for its share of all costs and expenses for drilling, completing, equipping and producing such well (or plugging and abandoning, if a dry hole).
PARTICIPATION ELECTIONS. Rules regarding Participant elections including the effect of any failure to elect or change in status events are as set forth in the relevant Sections of the Plan Document.
PARTICIPATION ELECTIONS
