Compensation Deferrals Sample Clauses
The Compensation Deferrals clause establishes the terms under which an employee or contractor may postpone receipt of a portion of their earned compensation to a future date. Typically, this clause outlines the procedures for electing to defer compensation, the timing and form of deferred payments, and any conditions or limitations that apply, such as compliance with tax regulations like Section 409A of the Internal Revenue Code. Its core practical function is to provide flexibility in income timing for tax planning or personal financial reasons, while ensuring both parties understand the rules governing deferred payments and minimizing legal or tax-related risks.
Compensation Deferrals. That portion of a Participant’s Compensation which is deferred under the terms of this Plan.
Compensation Deferrals. If at any time and from time to time a Deferred Amount of compensation shall be payable by the Company to, or accrue to the benefit of, Employee, the Deferred Amount shall, in lieu of being then paid to Employee, be deferred to later payment by the Company to Employee in accordance with the terms of this Agreement. As of each Deferral Date throughout the term of this Agreement, Employee's Deferral Account shall be credited with an amount equal to the Deferred Amount. In the case of the lapsing of restrictions relating to restricted stock which constitute a Deferred Amount, the shares of common stock as to which restrictions lapse shall be credited to Employee's Deferral Account, and all subsequent dividends and other distributions with respect to such shares, whether in cash, securities or other property, shall, in lieu of being distributed to Employee, be credited to Employee's Deferral Account at the time of any such distribution.
Compensation Deferrals. (a) The Company shall credit to the Account of a Participant an amount equal to the amount designated in the Participant's Participation Election Form for that Plan Year. Such amounts shall not be made available to such Participant, except as provided in ARTICLE VII hereof, and, as Compensation Deferrals, shall reduce such Participant's Compensation from the Company in accordance with the provisions of the applicable Participation Election Form; provided, however, that all such amounts shall be subject to the rights of the general creditors of the Company as provided in ARTICLE IX hereof.
(b) Each Eligible Employee or Director shall deliver a Participation Election Form to the Company before any Compensation Deferrals can become effective. Such Participation Election Form shall be void with respect to any Compensation Deferral unless submitted before the beginning of the calendar year during which the amount to be deferred will be earned; provided, however, that in the year in which the Plan is first adopted or an Employee or Director is first eligible to participate, such Participation Election Form shall be filed within thirty (30) days of the date on which the Plan is adopted or the date on which an Employee or Director is first eligible to participate, respectively, with respect to Compensation earned during the remainder of the calendar year. Notwithstanding the foregoing, a Participant may cease Compensation Deferrals upon thirty (30) days advanced written notice to the Administrator.
(c) The Participation Election Form shall, subject to the limitations set forth in this Section 4.1, designate the amount of Compensation deferred by each Participant, the beneficiary or beneficiaries of the Participant and such other items as the Administrator may prescribe. Such designations shall remain effective unless amended as provided in subsection (d), below.
(d) A Participant may amend his or her Participation Election Form from time to time; provided, however, that any amendment to the amount of a Participant's Compensation Deferrals shall comply with the provisions of subsection (b), above.
Compensation Deferrals. That portion of an Eligible Employee’s Compensation which is deferred under the terms of this Nonqualified Deferred Compensation Plan.
Compensation Deferrals. The portion of Compensation that a Participant elects to defer in accordance with Section 4.1 hereof.
Compensation Deferrals. Compensation Deferral Agreement
Compensation Deferrals. 5 4.2 Matching Contributions...............................6 4.3
Compensation Deferrals. Compensation Deferrals shall be made through, and only through, regular deductions by the Company from Compensation otherwise payable to the Participant. Compensation Deferrals so deducted by the Company from the Compensation of a Participant shall be credited to the Compensation Deferral Account of the Participant.
Compensation Deferrals