Credits to Deferred Compensation Account Sample Clauses
The "Credits to Deferred Compensation Account" clause defines how and when contributions or earnings are added to an employee's deferred compensation account. Typically, this clause outlines the timing and manner in which salary deferrals, employer contributions, or investment gains are credited to the account, ensuring that records accurately reflect the participant's entitlements. For example, it may specify that credits occur monthly or after payroll processing. The core function of this clause is to provide clarity and consistency in the administration of deferred compensation plans, ensuring participants receive proper credit for their contributions and any associated earnings.
Credits to Deferred Compensation Account. As discussed in Section 1.10, the Bank shall establish a bookkeeping account for Director, known as the Deferred Compensation Account. This Deferred Compensation Account shall be credited on the dates such Director’s Fees would otherwise have been paid with the percentage (dollar amount) that the Participant has notified the Bank (in writing and pursuant to the terms of Section 4), that he elected to have deferred. The Deferred Compensation Account shall be equal to the sum of (i) all amounts deferred in each Deferral Period under this Agreement, including all amounts deferred previously under the Original Agreement and (ii) interest thereon credited in accordance with the applicable interest crediting provisions, net of all distributions from such account. Amounts deferred pursuant to the Original Agreement and this Agreement shall be credited to the Deferred Compensation Account, along with the specified interest thereon. In addition to the forgoing, the Deferred Compensation Account shall include those amounts previously deferred under the Director’s Santa Lucia Bank Director Retirement Agreement (effective as of February 1, 1997 and thereafter amended by virtue of the January 10, 2001 Amendment thereto), as amended and superseded by the First Amended and Restated Santa Lucia National Bank Director Retirement Agreement
Credits to Deferred Compensation Account. The Bank shall establish a bookkeeping account for the Director (hereinafter called the “Director’s Deferred Compensation Account”) which shall be credited on the dates such fees, as defined in Paragraph II, would otherwise have been paid with the percentage or dollar amount that the Director has notified the Bank in writing, pursuant to Paragraph III, that the Director elected to have deferred.
Credits to Deferred Compensation Account. The Bank shall establish a bookkeeping account for the Executive (hereinafter called the “Executive’s Deferred Compensation Account”) which shall be credited on the dates such salary and compensation, as defined in Paragraph II, would otherwise have been paid with the percentage or dollar amount that the Executive has notified the Bank in writing, pursuant to Paragraph III, that the Executive elected to have deferred.
Credits to Deferred Compensation Account. The Company shall establish the Deferred Compensation Account. This Deferred Compensation Account shall be credited on the dates Director’s Fees would otherwise have been paid.
Credits to Deferred Compensation Account. The Bank shall establish a bookkeeping account for the Executive (hereinafter referred to as the “Executive Deferred Compensation Account”) which shall be credited on the dates such salary as defined in Paragraph II, would otherwise have been paid with the percentage or dollar amount that the Executive has notified the Bank in writing pursuant to Paragraph III, that the Executive elected to have deferred. Said Executive Deferred Compensation Account shall have a pre-existing balance of Ninety-Two Thousand Eight Hundred Forty-Four Dollars and Sixteen Cents ($92,844.16) on the date of the Agreement.
Credits to Deferred Compensation Account