Deferred Profit Sharing Plan Sample Clauses

Deferred Profit Sharing Plan. You are not allowed to withdraw or transfer outside established plan, any of the Company contributions (Deferred Profit Sharing Plan - DPSP) or earnings until retirement or termination.
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Deferred Profit Sharing Plan. Employee’s Deferred Profit Sharing Plan account is 100% vested. Employee is eligible for a regular company contribution through the effective date of termination, and no further contributions will be made thereafter. Employee’s eligibility to make voluntary employee contributions will terminate on the effective date of Employee’s termination. Any existing Wellness or Plan Credits designated as a DPSP contribution will default to taxable cash through the end of the severance period or the end of the current calendar year should the severance period extend beyond the current calendar year. Distribution of DPSP account values will be made in accordance with the provisions of the Plan. Questions regarding Deferred Profit Sharing should be directed to Xxxxxx Xxxxxxxx at 000 000-0000. Additionally, you may contact Xxxxxx Xxxxxxxx to discuss the distribution of your Non-qualified Deferred Compensation Plan (NQ Plan) account. Distribution of your NQ Plan account will be made in accordance with such plans and applicable regulations, including, without limitation, Section 409A of the Internal Revenue Code and regulations issued thereunder.
Deferred Profit Sharing Plan. The company will contribute .83 cents per hour into the Company’s Deferred Profit Sharing Plan beginning April 1, 2017; .85 cents per hour into the Company’s Deferred Profit Sharing Plan beginning April 1, 2018; and .87 cents per hour into the Company’s Deferred Profit Sharing Plan beginning April 1, 2019.

Related to Deferred Profit Sharing Plan

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • 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.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • 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.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

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