Examples of Local plan administrator in a sentence
Any amounts remaining in his Contribution Account after such ADRs are purchased, will at the direction of the Local Plan Administrator, be refunded by the Administrator in a lump sum distribution.
The Local Plan Administrator may appoint an Administrator to: (i) on each Investment Date, purchase ADRs for each Participant with amounts held in such Participant’s Contribution Account; and (ii) on each Matching Date, credit each Participant’s Account with the appropriate Matching Contribution.
A Participant may stop his Contribution election at any time by filing a Stop Contribution Form at such time in advance of the Investment Date as the Local Plan Administrator shall prescribe.
A Participant may request a distribution of ADRs purchased for the Participant under this Plan or order the sale of such ADRs at any time by making a request in such form and at such time as the Local Plan Administrator shall prescribe.
Prior to that time, none of the rights or privileges of a shareholder of the Company shall inure to the Participant with respect to such ADRs. All the ADRs purchased under this Plan shall be delivered by the Company in a manner as determined by the Local Plan Administrator or the Administrator.
The Company shall appoint the Local Plan Administrator, which shall have the authority and power to administer this Plan and to make, adopt, construe, and enforce rules and regulations not inconsistent with the provisions of this Plan.
Unless determined otherwise by the Local Plan Administrator, for purposes of this Section 3.2, the Contribution Period shall be twelve (12) months long.
Any Participant who files a Stop Contribution Form pursuant to this Section 3.3 may again begin making Contributions by filing with the Local Plan Administrator a new Stock Purchase Plan Participation Agreement and a new Stock Purchase Plan Account Agreement (if necessary) pursuant to Section 2.4.
Delivery by any other mechanism shall be deemed effective at the option and discretion of the Local Plan Administrator, or, if applicable, the Administrator.
Each New Hire may elect to participate in this Plan and may become a Participant in this Plan by executing and filing with the Local Plan Administrator a Stock Purchase Plan Participation Agreement and by executing and filing with the Administrator a Stock Purchase Plan Account Agreement, within sixty (60) days of his hire date.