Deferral Account. 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:
Deferral Account. The Executive shall be entitled to participate in the Company’s executive deferred compensation program in accordance with its terms. The benefits, terms, and conditions of such program shall be in the sole discretion of the Company.
Deferral Account. The vested portion of a Participant's Deferral Account shall be distributed to the Participant upon the termination of employment with the Company.
Deferral Account. Book entries maintained by the Company reflecting the amount of the Participant’s Accrued Benefit attributable to the Participant’s Deferred Contributions pursuant to the Participant’s Deferral Elections, the Investment Adjustments with respect to the balance of the Deferral Account, the Plan Expenses allocated thereto (if any), and the Discretionary Contributions allocated thereto, if any, provided, however, that the existence of such book entries shall not create, and shall not be deemed to create a trust of any kind or a fiduciary relationship between the Company and the Participant and the Participant’s Beneficiaries. The Plan Administrator shall maintain a separate Deferral Account for each Participant for each Plan Year in which the Participant makes a Deferral Election or in which the Participant is allocated a Discretionary Contribution. The Plan Administrator may maintain additional Deferral Accounts or sub-accounts as it deems necessary to accurately track and reflect (a) the Investment Adjustments, and (b) any conditions established by the Company with respect to any Discretionary Contributions, e.g. vesting.
Deferral Account. The Company shall establish a Deferral Account on its books for the Director. The Deferral Account balance as of any date is determined by (a) taking the cash surrender value of the first simulated investment less the balance of the second simulated investment as of such date, and (b) dividing the net difference by the result of one minus the Company's highest marginal tax rate for the previous calendar year.
Deferral Account. A number of units equal to the number of shares of Common Stock otherwise deliverable to the Grantee from the exercise of the portion of the Option subject to the Deferral Election, less that number of shares of Common Stock used to exercise such portion of the Option pursuant to Section 3 hereof, shall be credited to a "deferral account" on behalf of the Grantee. The Grantee's deferral account shall be a bookkeeping account only.
Deferral Account. The Committee shall establish and maintain a Deferral Account for each Participant under the Plan. Each Participant's Deferral Account shall be divided into separate subaccounts ("investment fund subaccounts"), each of which corresponds to an investment fund elected by the Participant pursuant to Section 3.2. A Participant's Deferral Account shall be credited as follows:
Deferral Account. (a) The Bank shall establish a bookkeeping account (a "Deferral Account") for each Participant to record the amounts due under this Agreement.