Deferred Compensation Plan Contributions Sample Clauses
The Deferred Compensation Plan Contributions clause outlines the rules and procedures for making contributions to an employee's deferred compensation plan. Typically, this clause specifies who is eligible to participate, how contributions are calculated or elected, and the timing or limits of such contributions. For example, it may allow employees to defer a portion of their salary or bonuses into the plan, subject to certain caps or conditions. The core function of this clause is to provide a structured mechanism for employees to save for retirement or other long-term goals on a tax-deferred basis, while ensuring compliance with applicable laws and plan requirements.
Deferred Compensation Plan Contributions. (a) If you are employed by Intuit on the first anniversary of the Commencement Date, Intuit will make a fully vested employer contribution of $350,000 on your behalf to the Intuit Inc. Executive Deferred Compensation Plan (the “NQDCP”). Intuit will make this contribution within thirty days following the first anniversary of the Commencement Date You will not be entitled to this contribution if your Intuit employment terminates prior to the first anniversary of the Commencement Date.
(b) If you are employed by Intuit on the second anniversary of the Commencement Date, Intuit will make a fully vested employer contribution of $350,000 on your behalf to the NQDCP. Intuit will make this contribution within thirty days following the second anniversary of the Commencement Date. You will not be entitled to this contribution if your Intuit employment terminates prior to the second anniversary of the Commencement Date.
(c) If you are employed by Intuit on the third anniversary of the Commencement Date, Intuit will make a fully vested employer contribution of $350,000 on your behalf to the NQDCP. Intuit will make this contribution within thirty days following the third anniversary of the Commencement Date. You will not be entitled to this contribution if your Intuit employment terminates prior to the third anniversary of the Commencement Date.
(d) In accordance with the terms and conditions of the NQDCP, you will be able to elect to have these contributions credited with earnings pursuant to the investment alternatives offered under the NQDCP and elect when to take distribution of these contributions and any earnings credited thereon.
Deferred Compensation Plan Contributions. You will be eligible to elect to participate in Intuit’s Non-Qualified Deferred Compensation Plan and the Management Stock Purchase Plan (the “MSPP”), in accordance with the terms and conditions of those plans. For purposes of the MSPP, your maximum match will remain at 1,500 RSUs per year.
Deferred Compensation Plan Contributions. (a) If you are employed by Intuit on January 3, 2006, Intuit will make a fully vested employer contribution of $350,000 on your behalf to the Intuit Inc. 2005 Executive Deferred Compensation Plan (the “NQDCP”) within thirty days thereafter. You will not be entitled to this contribution if your Intuit employment terminates prior to January 3, 2006.
(b) In accordance with the terms and conditions of the NQDCP, you will be able to elect to have these contributions credited with earnings pursuant to the investment alternatives offered under the NQDCP and elect when to take distribution of these contributions and any earnings credited thereon.
Deferred Compensation Plan Contributions