Common use of Constructive Receipt Clause in Contracts

Constructive Receipt. In the event the Committee determines that amounts deferred under the Plan have been constructively received by a Participant and must be recognized as income for federal income tax purposes, such amounts shall be distributed to the Participant. The determination of the Committee under this Section 5.6 shall be binding and conclusive.

Constructive Receipt. In the event the Committee determines that amounts deferred under the Plan have been constructively received by a Participant and must be recognized as income for federal income tax purposes, such amounts shall be distributed to the Participant. The determination of the Committee under this Section 5.6 5.5 shall be binding and conclusive.