Common use of Participant Direction Clause in Contracts

Participant Direction. As authorized under the Plan, each --------------------- Participant shall direct the Trustee in which investment option(s) to invest the assets in the Participant's individual accounts. Such directions may be made by Participants by use of the telephone exchange system, the internet or in such other manner as may be agreed upon from time to time by the Sponsor and the Trustee. Such direction shall be made in accordance with written exchange guidelines attached hereto as Schedule "H". The Trustee shall not be liable for any loss or expense that arises from a Participant's exercise or non-exercise of rights under this Section 5 over the assets in the Participant's accounts, unless such loss or expense is a direct result of the Trustee's negligence. In the event that the Trustee fails to receive a proper direction from the Participant, the assets shall be invested in the investment option set forth for such purpose on Schedule "C", until the Trustee receives a proper direction.

Appears in 2 contracts

Sources: Trust Agreement (FMC Corp), Trust Agreement (FMC Technologies Inc)

Participant Direction. As authorized under the Plan, each --------------------- Participant shall direct the Trustee in which investment option(s) to invest the assets in the Participant's ’s individual accounts. Such directions may be made by Participants by use of the telephone exchange system, the internet or in such other manner as may be agreed upon from time to time by the Sponsor and the Trustee. Such direction shall be made in accordance with written exchange guidelines attached hereto as Schedule "H". The Trustee shall not be liable for any loss or expense that arises from a Participant's ’s exercise or non-exercise of rights under this Section 5 over the assets in the Participant's ’s accounts, unless such loss or expense is a direct result of the Trustee's ’s negligence. In the event that the Trustee fails to receive a proper direction from the Participant, the assets shall be invested in the investment option set forth for such purpose on Schedule "C", until the Trustee receives a proper direction.

Appears in 1 contract

Sources: Trust Agreement (FMC Technologies Inc)