Examples of Irrevocable Election Form 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.
An Irrevocable Election Form submitted by or on behalf of a Participant shall be binding upon and inure to the benefit of the Corporation, its successors and assigns, and to the Participant and to the Participant’s Beneficiaries, heirs, executors, administrators and other legal representatives.
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.
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.
At the time a Participant submits an Irrevocable Election Form, and from time to time thereafter at intervals to be determined by the Committee, each Participant shall invest the balance of his Account, any earnings and dividends thereon in Comerica Stock.
If the Participant dies after the commencement of installments hereunder but prior to the distribution of his or her entire Account, then notwithstanding the manner of distribution specified in the applicable Irrevocable Election Form, the Corporation shall distribute (or direct the Trustee to distribute) the balance of the Participant’s Account in Comerica Stock to the Participant’s Beneficiary in a single lump sum distribution within ninety (90) days following the date of the Participant’s death.
An Eligible Employee or Participant must timely file an Irrevocable Election Form with respect to each calendar year or Performance Period in which he or she wishes to defer Compensation.
An individual who wishes to become a Participant in the Plan must complete and sign an Irrevocable Election Form.
As soon as is administratively feasible following the date the Incentive Award subject to an Irrevocable Election Form would otherwise be paid to the Participant, the Plan Administrator shall credit the amount of the Incentive Award being deferred to the Participant’s Account.
An Eligible Employee who wishes to become a Participant in the Plan must submit a signed Irrevocable Election Form in accordance with Article III(B) and (D) below within the time frame permitted by the Plan Administrator, which shall in no event be later than the last business date preceding the calendar year in which such Annual Base Compensation or Incentive Award that does not qualify as Section 409A Performance Based Compensation is earned.