Distribution Elections Sample Clauses

Distribution Elections. Notwithstanding Section III(a), you may, on or before the Grant Date and in all cases at a time that complies with the initial deferral election requirements of Section 409A of the Code, make an election (a “Distribution Election”) to (A) defer your Distribution Date with respect to some or all of your vested Units and/or (B) have your vested Units distributed to you in annual installments as provided in Section III(c), provided that such election complies with this Section III. You may change your Distribution Election with respect to each Tranche (set forth in Section II(a) above) up to three times without the approval of the Committee, provided such Distribution Election is made in a timely manner. Any changes to your Distribution Election with respect to a Tranche in addition to the three provided in the preceding sentence may only be made with the approval of the Committee, in its sole discretion. In order for a change to your Distribution Election to be valid, it must be made at least one year prior to the then-existing Distribution Date with respect to the Units subject to such Distribution Election change, the new Distribution Date must be at least five years after the then-existing Distribution Date with respect to such Units, and the election must otherwise be consistent with the “subsequent election” rules of Section 409A(a)(4)(C) of the Code so as to prevent application of the penalty and interest provisions of Section 409A(a)(1)(B) of the Code. Your Distribution Date with respect to any portion of your Units may not be prior to the earlier of the Vesting Date for such vested Units or the date of the Committee Determination. Distribution Elections may only be made by delivering a written election to the Company care of its General Counsel in the form attached as Exhibit B hereto.
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Distribution Elections. (a) A Participant’s election of the form and timing of payment of his or her benefit under the Plan applies (select one):
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Distribution Elections. Except as provided in Section 5.11, a Participant shall elect the form and time of distribution of his Plan Benefit not later than the date by which the Participant makes his initial election to defer Compensation under the Plan or, if later, the 30th day after the date as of which the Employer first determines that an Employer Matching Contribution or an Employer Profit Sharing Contribution shall be credited to the Participant’s Deferred Compensation Account. A Participant shall be entitled to elect the form of payment of his Plan Benefit that is payable upon the Participant’s Separation from Service after Early, Normal or Late Retirement. A Participant may elect that his Plan Benefit be paid in a form listed in Section 5.7. A Participant shall also be entitled to elect the form of payment to his Beneficiary in the event of the Participant’s death. If the Participant does not elect a form of payment, benefits shall be paid in a lump sum. A Participant may elect to change his distribution election provided that such election change satisfies (a) through (c) below: (a) The election change may not take effect until at least 12 months after the date on which such election is made. (b) In the case of an election related to a payment that is not on account of Disability or death, the payment with respect to such election is made must be deferred for period of not less than five years from the date such payment would otherwise have been paid (or in the case of installment payments, five years from the date the first installment is scheduled to be paid). (c) Any election related to a payment at a specified time or pursuant to a fixed schedule may not be made less than 12 months prior to the date the payment is scheduled to be paid (or in the case of installment payments, 12 months prior to the date of the first installment scheduled to be paid). 8
Sample 1
Distribution Elections. The time at which benefits under this Agreement will be paid and their manner of distribution are specified below. The Director may not change the time or manner of benefit payment under this Agreement without the written approval of the Board of Directors of the Company. Any change in the time or form of benefit payment (i) may not take effect until at least 12 months after the date on which an election to make such change is received in writing by the Company and approved by the Board of Directors; (ii) in the case of an election related to a payment not attributable to death, disability or hardship, as provided in this Agreement, must defer payment for a period of not less than 5 years from the date such payment would otherwise have been made; and (iii) in the case of any election related to a payment based upon a specified time or fixed schedule may not be made less than 12 months prior to the date of the first scheduled payment. For purposes of changing the time or form of benefits distribution, if the Director has elected in this Agreement an installment form of payment, the installments shall be treated as a single payment occurring on the date of the first installment, and subject to the other rules for changes in distribution elections as set forth above, the Director may elect to receive a lump sum payment five years after the first installment payment would otherwise have been made. Notwithstanding the foregoing, a Director may, on or before December 31, 2006, make distribution elections different from those previously made by the Director without regard to the limitations described in (i), (ii) and (iii) of this Section 2.3; provided, however, that the Director may not make any election that would have the effect of deferring payment to a later year of an amount that would otherwise be payable in 2006 or that would have the effect of causing a payment to be made in 2006 that would otherwise be paid after 2006, and any such purported election by the Director shall be ineffective. Similarly, a Director may, on or before December 31, 2007, make distribution elections different from those previously made by the Director without regard to the limitations described in (i), (ii) and (iii) of this Section 2.3; provided, however, that the Director may not make any election that would have the effect of deferring payment to a later year of an amount that would otherwise be payable in 2007 or that would have the effect of causing a payment to be made in 2...
Sample 1
Distribution Elections. Notwithstanding Section III(a), you may, on or before the Grant Date and in all cases at a time that complies with the initial deferral election requirements of Section 409A of the Code, make an election (a “Distribution Election”) to (A) defer your Distribution Date with respect to some or all of your vested Units and/or (B) have your vested Units distributed to you in annual installments as provided in Section III(c), provided that such election complies with this Section III. You may change your Distribution Election up to three times without the approval of the Committee, provided such Distribution Election is made in a timely manner. Any changes to your Distribution Election in addition to the three provided in the preceding sentence may only be made with the approval of the Committee, in its sole discretion. In order for a change to your Distribution Election to be valid, it must be made at least one year prior to the then-existing Distribution Date with respect to the Units subject to such Distribution Election change, the new Distribution Date must be at least five years after the then-existing Distribution Date with respect to such Units, and the election must otherwise be consistent with the “subsequent election” rules of Section 409A(a)(4)(C) of the Code so as to prevent application of the penalty and interest provisions of Section 409A(a)(1)(B) of the Code. Your Distribution Date with respect to any portion of your Units may not be prior to the earlier of the Vesting Date for such vested Units or the date of the Committee Determination. Distribution Elections may only be made by delivering a written election to the Company care of its General Counsel in the form attached as Exhibit B hereto.
Sample 1
Distribution Elections. Except as provided in Section 5.11, a Participant shall elect the form and time of distribution of his Plan Benefit not later than the date by which the Participant makes his initial election to defer Compensation under the Plan or, if later, the 30th day after the date as of which the Employer first determines that an Employer Matching Contribution or an Employer Profit Sharing Contribution shall be credited to the Participant’s Deferred Compensation Account. A Participant shall be entitled to elect the form of payment of his Plan Benefit that is payable upon the Participant’s Separation from Service after Early, Normal or Late Retirement. A Participant may elect that his Plan Benefit be paid in a form listed in Section 5.7. A Participant shall also be entitled to elect the form of payment to his Beneficiary in the event of the Participant’s death. If the Participant does not elect a form of payment, benefits shall be paid in a lump sum. A Participant may elect to change his distribution election provided that such election change satisfies (a) through (c) below:
Sample 1
Distribution Elections. For a Participant, the Company will pay deferred compensation in compliance with the most recent signed and dated Deferral Election on file with the Company. In no circumstance (except for hardship as determined by the Committee as set forth in Article VI and except as provided in Section 5.2. below) will payment be made to a Participant before the distribution payment date elected by the Participant. Notwithstanding the forgoing, any and all elections made by a Participant with respect to distributions and/or payments as set forth in Section 5.1 of the Prior Program and are in effect as of the date before the Effective Date shall continue to be in effect as distribution and/or payment elections under Section 5.1 of this Program.
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Distribution Elections 
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Related to Distribution Elections

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • 83(b) Election You may make and file with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the grant of the Restricted Shares hereunder, electing to include in your gross income as of the Grant Date the Fair Market Value of the Restricted Shares as of the Grant Date. You shall promptly provide a copy of such election to the Company. If you make and file such an election, you shall make such arrangements in accordance with Section 8 as are satisfactory to the Committee to provide for the timely payment of all applicable withholding taxes.

  • Change in Form or Timing of Distributions All changes in the form or timing of distributions hereunder must comply with the following requirements. The changes:

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Fund Elections Each Fund (or its Investment Advisor acting on its behalf) may elect to enter into and execute foreign exchange transactions with third parties that are not affiliated with the Custodian, with State Street Global Markets, which is the foreign exchange division of State Street Bank and Trust Company and its affiliated companies (“SSGM”), or with a sub-custodian. Where the Fund or its Investment Advisor gives Proper Instructions for the execution of a foreign exchange transaction using an indirect foreign exchange service described in the Client Publications, the Fund (or its Investment Advisor) instructs the Custodian, on behalf of the Fund, to direct the execution of such foreign exchange transaction to SSGM or, when the relevant currency is not traded by SSGM, to the applicable sub-custodian. The Custodian shall not have any agency (except as contemplated in preceding sentence), trust or fiduciary obligation to the Fund, its Investment Advisor or any other person in connection with the execution of any foreign exchange transaction. The Custodian shall have no responsibility under this Agreement for the selection of the counterparty to, or the method of execution of, any foreign exchange transaction entered into by the Fund (or its Investment Advisor acting on its behalf) or the reasonableness of the execution rate on any such transaction.

  • REMIC Elections (a) The Depositor hereby instructs and authorizes the Trustee to make an appropriate election to treat each of the Upper Tier REMIC, the Lower Tier REMIC and the SWAP REMIC as a REMIC. The Trustee shall sign the returns providing for such elections and such other tax or information returns that are required to be signed by the Trustee under applicable law. This Agreement shall be construed so as to carry out the intention of the parties that each of the Upper Tier REMIC, the Lower Tier REMIC and the SWAP REMIC be treated as a REMIC at all times prior to the date on which the Trust Fund is terminated.

  • Section 83(b) Election Purchaser understands that Section 83(a) of the Code, taxes as ordinary income the difference between the amount paid for the Stock and the fair market value of the Stock as of the date any restrictions on the Stock lapse. In this context, "restriction" includes the right of the Company to buy back the Stock pursuant to the Repurchase Option set forth in Section 2(a) above. Purchaser understands that Purchaser may elect to be taxed at the time the Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) of the Code (an "83(b) Election") with the Internal Revenue Service in the form attached hereto as Exhibit C within thirty (30) days from the date the Stock is purchased. Even if the fair market value of the Stock at the time of the execution of this Agreement equals the amount paid for the Stock, the 83(b) Election must be made to avoid income under Section 83(a) of the Code in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Purchaser. Purchaser further understands that an additional copy of such 83(b) Election is required to be filed with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser acknowledges and understands that it is solely Purchaser's obligation and responsibility to timely file such 83(b) Election, and neither the Company nor the Company's legal or financial advisors shall have any obligation or responsibility with respect to such filing. Purchaser acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase of the Stock hereunder and does not purport to be complete. Purchaser further acknowledges that the Company has directed Purchaser to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser's death. Purchaser assumes all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or the lapse of the restrictions on the Stock.

  • Number Designation Election Term Etc Section 1.

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