Common use of Form and Time of Elections Clause in Contracts

Form and Time of Elections. Except as otherwise provided by the Administration Committee, any election or consent permitted or required to be made under the Plan, and any permitted modification or revocation thereof, shall be made in writing or other manner permitted by the Administration Committee and at such time as the Administration Committee may require. The Administration Committee may permit or require that some or all transactions be effected through a telephone, internet or other electronic system utilizing a personal identification number (“PIN”) or password, the use of which shall constitute a valid signature for purposes of any transaction for which use of such system is authorized or required by the Administration Committee, as long as such telephone, internet or other electronic system complies with Treas. Reg. §1.401(a)-21.