Deferred Compensation Option Clause Samples

Deferred Compensation Option. Notwithstanding the provisions of this Section, on separation from CITY employment for any reason, EMPLOYEE may choose to apply all unused accrued leave allowances provided in this Agreement to a deferred compensation plan, provided such allocation is, at the time of such separation lawful and permitted in accordance with the terms of said plan. Accumulated leave balances shall be paid at EMPLOYEE’S monthly salary rate at the effective date of separation.
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Deferred Compensation Option. Qualified Permanent full-time employees who choose to participate in the Employer's 457 Deferred Compensation Plan as may be in effect from time to time may take advantage of the following option if they so choose:
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Deferred Compensation Option. ‌ A. An employee must submit proof of coverage under a qualified health plan, which must be accompanied by a signed health insurance waiver by January 1st of each year. B. An employee must provide proof of coverage under the employee’s retired health plan, which must be a qualified plan and a signed health insurance waiver by January 1st of each year to qualify for waiver from the Town medical plan requirements.
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Related to Deferred Compensation Option

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.