Examples of Irrevocable Election in a sentence
A Participant is not permitted to make a subsequent election with respect to the timing or form of payment of any Compensation deferred under this Plan pursuant to an Irrevocable Election Form that has become irrevocable in accordance with Article III(D)(4) above.
If a Participant receives a hardship distribution under this Article V(A)(5) and/or under the Comerica Incorporated Preferred Savings Plan, the Irrevocable Election Form submitted hereunder by or on behalf of the Participant shall be automatically cancelled.
The contractual agreement between Comerica Incorporated and each Participant resulting from the execution of an Irrevocable Election Form shall be binding upon and inure to the benefit of Comerica Incorporated, its successors and assigns, and to the Participant and to the Participant's heirs, executors, administrators and other legal representatives.
This Election Form permits you to make an election as to the type of consideration (cash and/or Nicolet stock) that you wish to receive in connection with the Merger.
Any Participant who receives a hardship distribution or whose deferral election is cancelled hereunder shall not again be eligible to submit a deferral election until the next enrollment period after the calendar year in which the hardship distribution is made or the Irrevocable Election Form is cancelled.
At any time prior to the occurrence of an Irrevocable Election, Change in Control or Potential Change in Control, the Dime may remove the Trustee without cause upon at least 30 days' notice in writing to the Trustee.
Further, the effective date of any Irrevocable Election Form shall not be earlier than the first day of the calendar year which begins after the Irrevocable Election Form is signed by the Participant and accepted by the Committee.
Irrevocable Election or Change in Control, the Dime shall either (i) notify the Trustee that there have been no changes in the Participant Information from the Participant Information most recently provided or (ii) if there have been changes in the Participant Information, provide the Trustee with Participant Information updated to the date of the Irrevocable Election or Change in Control.
As of the last business day of each calendar month, the Trustee shall value the Trust Fund at current market values, and shall report such valuation, and the allocation thereto as between Company Trust Assets and Bank Trust Assets, to the Company and the Bank and, following an Irrevocable Election or Change in Control, to the Committee.
Upon the Committee's acceptance of a Participant's Irrevocable Election Form, the Participant shall be (i) bound by the provisions of the Plan and by the provisions of any agreement governing the Trust; (ii) bound by the provisions of the Irrevocable Election Form; and (iii) deemed to have assumed the risks of deferral, including, without limitation, the risk of poor investment performance and the risk that Comerica Incorporated may become insolvent.