Common use of Procedure for Adoption Clause in Contracts

Procedure for Adoption. Any Commonly Controlled Entity may adopt the Plan for the benefit of its Eligible Employees by resolution of such Commonly Controlled Entity’s board of directors and by completing (or the Senior Vice President completing pursuant to its authority to amend this Plan) one or more Appendices with respect to such Employees, which adoption shall be effective as of the date specified in the board resolution. No such adoption shall be effective until such adoption and any Appendix to be used in connection therewith has been approved by the Senior Vice President.

Procedure for Adoption. Any Commonly Controlled Entity may adopt the Plan for the benefit of its Eligible Employees by resolution of such Commonly Controlled Entity’s board of directors and by completing (or the Senior Vice President completing pursuant to its authority to amend this the Plan) one or more Appendices with respect to such Employees, which adoption shall be effective as of the date specified in the board resolution. No such adoption shall be effective until such adoption and any such Appendix to be used in connection therewith has been approved by the Senior Vice President.