Common use of DIRECT ROLLOVER OPTION Clause in Contracts

DIRECT ROLLOVER OPTION. In accordance with procedures established by the Committee, a Distributee has the right to direct that any portion of his Eligible Rollover Distribution will be directly paid to an. Eligible Retirement Plan specified by him that will accept the Eligible Rollover Distribution. Any such election shall be made at the time and in the manner prescribed by the Committee and shall be subject to any uniform restrictions or limitations (permissible under section 401(a)(31) and other applicable Code provisions) that the Committee may impose under rules adopted by it.

DIRECT ROLLOVER OPTION. In accordance with procedures established by To the Committeeextent required under Regulations, a Distributee has the right to direct that any portion of his Eligible Rollover Distribution will be directly paid to an. an Eligible Retirement Plan specified by him that will accept the Eligible Rollover Distribution. Any such election shall be made at the time and in the manner prescribed by the Committee and shall be subject to any uniform restrictions or limitations (permissible under section 401(a)(31) and other applicable Code provisions) that the Committee may impose under rules adopted by it.