Executive Deferred Salary Plans Sample Clauses
An Executive Deferred Salary Plan clause establishes a framework for deferring a portion of an executive's compensation to a future date, typically to provide tax advantages or to serve as a long-term incentive. Under such a plan, a specified amount or percentage of the executive's salary is set aside and paid out at a later time, often upon retirement, termination, or after a vesting period. This clause helps align executive interests with the long-term goals of the company and provides a mechanism for retaining key personnel by offering future financial benefits.
Executive Deferred Salary Plans. Payments from any Executive Deferred Salary Plan in which the Employee participated will be made after the Separation Date in accordance with the rules of the Plan.
Executive Deferred Salary Plans. The Employee will receive payment from his 2006 Executive Deferred Salary Plan, with 8 ½ percent simple interest. Such payment will be made in one lump sum as soon as practicable following the Employee's Separation Date. The Employee’s other Executive Deferred Salary Plan accounts will be payable in accordance with the terms of such Plans, consistent with his prior election(s).
Executive Deferred Salary Plans. Any deferred salary amounts shall be paid out in accordance with the terms of the applicable Executive Deferred Salary Plan.