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. Each Participant may elect to defer a portion of his Compensation during each Plan Year, and his Compensation shall be reduced by the amount he elects to defer. The amount each Participant elects to defer will be contributed to the Plan on his behalf, in accordance with the following provisions:
(a) In no event shall the amount a Participant defers to the Plan, or any other plan, during any taxable year of the Participant (excluding Catch-Up Contributions under Section 5.01(b)) exceed the dollar limitation contained in Section 402(g) of the Code in effect for the Participant’s taxable year, as adjusted by the Secretary of the Treasury for cost-of-living increases under § 402(g)(4).
(b) In addition, Participants who have attained age fifty (50) by the end of their taxable year may make Catch-Up Contributions. “Catch-Up Contributions” are Participant deferrals to the Plan that are in excess of an otherwise applicable plan limit. An otherwise applicable plan limit is a limit in the Plan that applies to deferrals without regard to Catch-Up Contributions, such as the limits on Annual Additions under Section 9.01, the dollar limitation on Participant deferrals under Section 402(g) of the Code and Section 5.01(a) above, and the limit imposed by the actual deferral percentage (ADP) test under Section 401(k)(3) of the Code, if applicable. Catch-Up Contributions for a Participant for a taxable year may not exceed the lesser of: (a) one hundred percent (100%) of the Participant’s Compensation when added to the Participant’s other deferrals under the Plan, or (b) the dollar limit on Catch-Up Contributions under Section 414(v)(2)(B)(i) of the Code for the taxable year, as adjusted by the Secretary of the Treasury for cost-of-living increases under Section 414(v)(2)(C) of the Code. Catch-Up Contributions are not counted in determining the minimum allocation under Section 6.07, but Catch-Up Contributions made in prior years are counted in determining whether the Plan is top-heavy under Section 27.02. The amount by which the Participant’s Compensation is reduced, including Catch-Up Contributions, shall be that Participant’s Deferred Income and shall be contributed to the Plan as an Elective Contribution by the Employer and allocated to the Participant’s Deferred Income Account. Except for occasional, bona fide administrative considerations, Elective Contributions made pursuant to a Participant’s deferral election cannot precede the earlier of (a) the date on which the Ser...
Compensation Deferrals. That portion of an Eligible Employee's Compensation which is deferred under the terms of this Nonqualified Deferred Compensation Plan.
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. 5 4.2 Matching Contributions...............................6 4.3
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