Deferred Compensation Units Sample Clauses
The Deferred Compensation Units clause establishes a mechanism for awarding compensation to employees or executives in the form of units that represent a promise of future payment, rather than immediate cash or stock. Typically, these units accrue value over time and may be subject to vesting schedules, with payment deferred until a specified event such as retirement, termination, or a set date. This clause is designed to incentivize long-term performance and retention by aligning the interests of recipients with the long-term success of the company, while also allowing the employer to manage cash flow and tax obligations more effectively.
Deferred Compensation Units. Notwithstanding anything to the contrary herein, if any Restricted Stock Units hereunder are considered nonqualified deferred compensation under Section 409A (“Deferred Compensation Units”), to the extent that any such Deferred Compensation Units become vested in accordance with the terms of the Plan or this Restricted Stock Unit Agreement, such Deferred Compensation Units shall be payable at the time that they would otherwise have been payable without regard to the occurrence of a Change in Control solely to the extent required to avoid the imposition of additional taxes and penalties under Section 409A.
Deferred Compensation Units. The Book Value Deferral Method credits Deferred Compensation units ("Units") to the Executive's account determined by dividing the cash amount of Deferred Compensation by the Book Value of the Common Stock at December 31, 1996. The Executive's account shall be credited with amounts equal to dividends paid in cash from time to time on the Common Stock. "Book Value" of Common Stock shall be the total Common Stock equity on a consolidated basis divided by total shares outstanding, as shown in the applicable annual report certified by the independent certified public accountants retained as auditors of the Company.
Deferred Compensation Units. Deferred Compensation Units" shall mean the right of a Grantee to receive distributions of deferred compensation pursuant to any Deferred Compensation Plan in the form of Common Stock after the deferral period, determined in accordance with the terms of such Deferred Compensation Plan and Article VI of this Plan and based on the Fair Market Value on the deferral date.
Deferred Compensation Units. SECTION 6.1
Deferred Compensation Units. Notwithstanding anything to the contrary herein, if any Restricted Stock Units hereunder are considered nonqualified deferred compensation under Section 409A (“Deferred Compensation Units”), to the extent that any such Deferred Compensation Units become vested in accordance