Employer Discretionary Credits Sample Clauses

Employer Discretionary Credits. The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined as follows:
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Employer Discretionary Credits. The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined each Plan Year by the Employer. ​ ☐ (i)Immediate 100% vesting. ​ ☐(ii)Number of YearsVested of ServicePercentage ​ Less than 1 % 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 % 10 or more % ​ ​ For this purpose, Years of Service of a Participant shall be calculated from the date designated below: ☐(1)First day the Participant begins to provide services to the Employer and all Participating Employers ​ ☐ (2)Each Crediting Date. Under this option (2), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Discretionary Credit is made to the Deferred Compensation Account. ​ Further, an Active Participant shall be fully vested in ALL Employer Credits, as noted above, upon the first to occur of the following events: ​
Sample 1
Employer Discretionary Credits. (i) Immediate 100% vesting. — (ii) 100% vesting after_ Years of Service. — (iii) 100% vesting at age_. — (iv) Number of Years of Service Vested Percentage Less than 1 % 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 % 10 or more % XX (v) Other: TBD Vesting - Vesting schedule to be determined by the Company at the time of the contribution subject to approval by Principal. For this purpose, Years of Service of a Participant shall be calculated from the date designated below:
Sample 1
Employer Discretionary Credits. The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined each Plan Year by the Employer. ☐ ☐ (i) (ii) Immediate 100% vesting. Number of Years Vested of Service Percentage Less than 1 % 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 10 or more % % For this purpose, Years of Service of a Participant shall be calculated from the date designated below:
Sample 1
Employer Discretionary Credits. (i) Immediate 100% vesting.
Sample 1
Employer Discretionary Credits. The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined each Plan Year by the Employer. These contributions shall immediately be 100% vested.
Sample 1

Related to Employer Discretionary Credits

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Annual Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • 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.

  • Amount of Employer Contribution The Employer Contribution amounts and rules in effect on June 30, 2017 will continue through December 31, 2017.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Discretionary Bonuses The Employee shall participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that the Board may award from time to time to the Bank’s senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Discretionary Leave 7.7.1 The employer may, where there are special circumstances, xxxxx discretionary leave with or without pay to any principal during periods when the school is officially open for instruction, provided that such leave does not unreasonably impinge upon the operational requirements of the school. Before approving any discretionary leave, the employer shall ensure that the granting of such leave complies with any funding arrangements applying to the school in respect of such leave.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

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