Deferred Compensation Payment. Total Deferred compensation amount shall be paid at earliest possible opportunity or upon the occurrence of any Event from 2.1 “Compensation” and including any of the following:
Deferred Compensation Payment. Prior to December 1, 2003, the Company hereby agrees to pay to you in satisfaction of your expected accrued and vested account balances as of the Effective Time under each of the First Federal Savings Bank of America Supplemental Executive Retirement Plan, the First Federal Savings Bank of America Incentive Award and Salary Deferral Plan, Amended and Restated Deferred Compensation Plan for Executives of First Federal Savings Bank of America and each other non-qualified plan of the Company and its affiliates (the "Deferred Compensation Plans"), in the amount set forth on Exhibit A hereto. You hereby agree and acknowledge that, after such payment is made to you, the Parent, the Company Bank, the Company and their affiliates shall have no further payment obligations to you or for your benefit whatsoever under the Deferred Compensation Plans and your participation in such plans shall cease immediately. For the avoidance of doubt, and notwithstanding anything herein to the contrary, the payment described in this paragraph shall not be taken into account in computing any benefits under any plan, program or arrangement of the Parent, the Company Bank, the Company or their affiliates.
Deferred Compensation Payment. On the Effective Date, the Company shall pay or cause to be paid to Executive, in cash or other readily available funds, the sum of Two Hundred Ten Thousand Four Hundred Fifty Six Dollars and Ninety Five Cents ($210,456.95), less any amounts required to be deducted by the Company for federal and state taxes or other applicable requirements, which amount represents the full amount of deferred compensation, inclusive of all accrued interest that Executive is entitled to receive under the terms of the Company's Deferred Compensation Plan, as calculated pursuant to the crediting rate methodology.
Deferred Compensation Payment. (iii) Employee shall also receive payment in full of amounts owed pursuant to his participation in the Debtors’ 401(k) Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Payment”). The Deferred Compensation Payment will be determined as of the date the Bankruptcy Court enters an order approving this Agreement and is expected to be in the approximate amount of $215,985.33.
Deferred Compensation Payment. In recognition of the Executive’s past and continuing service to the Company, the Company agrees to pay to the Executive, subject to all required tax withholdings, up to $300,000, subject to vesting as follows:
Deferred Compensation Payment. Upon the occurrence of a Change of Control, the Participant may elect, within 30 days after the Change of Control, to receive a lump sum benefit payment equal to the total amount that the Participant was entitled to receive under the Compensation Plan as of the date of the Change of Control. The lump sum benefit shall be the lump sum actuarial equivalent of a single life annuity (with a 10-year certain term) payable over the lifetime of the Participant and will be calculated using the actuarial assumptions used for FAS 87 purposes in the most recently audited annual report and will be discounted to the net present value (using a discount rate equal to the Prime Rate in effect on the date of the Change of Control plus 1.0%). The lump sum benefit payment shall not be discounted due to commencement prior to reaching age 65. This Section 1 is intended to override any provision of the Compensation Plan that would otherwise cause Participant to receive an amount which is less that what is provided for herein. This payment is in full satisfaction of Dura's obligations to Participant under the Compensation Plan and with respect to any provisions in other agreements which provide for recognition of enhanced service under the Compensation Plan.
Deferred Compensation Payment. Sixty (60) days after Executive’s termination of employment by either party for any reason or for no reason, the Company shall pay Executive a lump sum payment equal to Four Million Eight Hundred Thousand Dollars ($4,800,000) (the “Deferred Payment”), less normal withholdings and deductions. Notwithstanding the foregoing, the timing of the payment of the Deferred Payment shall be subject to Section 5 below.
Deferred Compensation Payment
