Interest On The Deferred Compensation Account Sample Clauses

Interest On The Deferred Compensation Account. The Deferred Compensation Account shall be credited annually on February first with an amount that is in addition to the amount deferred under Section 4, and shall be calculated by multiplying the balance of the Deferred Compensation Account by the specified Rate of Interest. Such interest shall be compounded annually and shall credited each year until such time as the benefits under this Agreement have been paid in full.
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Interest On The Deferred Compensation Account. The Executive’s Deferred Compensation Account shall be credited with an amount that is in addition to the salary and compensation credited under Paragraph IV. Such amount shall be determined by multiplying the balance of the Executive’s Deferred Compensation Account by a rate of interest equal to one hundred fifty percent (150%) of the average one year Treasury instrument for the plan year as quoted in the Wall Street Journal. Such rate shall be adjusted annually. Such amount shall be credited as long as there is a balance in the Executive’s Deferred Compensation Account and shall be credited on December 31st of each year.
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Interest On The Deferred Compensation Account. The Deferred Compensation Account shall be credited annually with an amount equal to the Rate of Interest earned. Interest earned shall be calculated by multiplying the balance of the Deferred Compensation Account by the specified Rate of Interest. Such amount shall be credited on December thirty-first (31st) of each year until such time as the benefits under this Agreement have been paid in full.
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Interest On The Deferred Compensation Account. The Director’s Deferred Compensation Account shall be credited with an amount that is in addition to the fees credited under Paragraph IV. Such amount shall be determined by multiplying the balance of the Director’s Deferred Compensation Account by a rate of interest equal to one hundred fifty percent (150%) of the average one year Treasury instrument for the plan year as quoted in the Wall Street Journal. Such rate shall be adjusted annually. Such amount shall be credited as long as there is a balance in the Director’s Deferred Compensation Account and shall be credited on December 31st of each year.
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Interest On The Deferred Compensation Account. The Directors Deferred Compensation Account shall be credited with an amount that is in addition to the fees credited under Section 4. Such amount shall be determined by multiplying the balance of the Directors Deferred Compensation Account by a rate of interest equal to 2% over LIBOR set at the December board meeting each year. Such rate shall be adjusted annually. Such amount shall be credited on December 31 of each year.
Sample 1
Interest On The Deferred Compensation Account. The Director’s Deferred Compensation Account shall be credited with an amount that is in addition to the fees credited under Paragraph II D herein. Such amount shall be determined by multiplying the balance of the Director’s Deferred Compensation Account by a rate of interest equal to two (2) times the one-year treasury rate as of December 31st of each year. However, in no case will the rate of interest credited be less than 8%. Such rate shall be adjusted annually. Such amount shall be credited as long as there is a balance in the Director’s Deferred Compensation Account and shall be credited on December 31 of each year.
Sample 1
Interest On The Deferred Compensation Account. On December 31 of each year for as long as there is a balance in the Directors Deferred Compensation Account, the Directors Deferred Compensation Account shall be credited with an amount in addition to the fees credited under Paragraph IV. Such annual amount shall be determined by multiplying the balance of the Directors Deferred Compensation Account by a rate of interest equal to one hundred fifty percent (150%) of the average of the interest rate on the ten year Treasury instrument for the plan year as quoted in the Wall Street Journal. Notwithstanding the foregoing, at no time shall the Crediting Rate be less than two percent (2.0%) or greater than six percent (6.0%).
Sample 1
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Related to Interest On The Deferred Compensation Account

  • 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.

  • 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:

  • Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • No Interest on Contributions No Partner shall be entitled to interest on its Capital Contribution.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • 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.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

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