Investment of Deferral Account Balance Clause Samples
The "Investment of Deferral Account Balance" clause governs how funds held in a deferral account are managed and invested during the deferral period. Typically, this clause specifies the types of investments permitted, who is responsible for making investment decisions, and how any earnings or losses from these investments are allocated. For example, it may allow the account holder to direct investments within certain guidelines or restrict investments to low-risk options. The core function of this clause is to ensure that deferred funds are managed prudently and transparently, protecting both parties' interests and clarifying how investment returns or losses will impact the account balance.
Investment of Deferral Account Balance. (1) The Trustee may select, from various options made available by the Fund, the investment media in which all or part of his Deferral Account shall be deemed to be invested.
(2) The Trustee shall make an investment designation on a form provided by the President of the Fund which shall remain effective until another valid direction has been made by the Trustee as herein provided. The Trustee may amend the investment designation as of the end of each calendar quarter by giving written direction to the President of the Fund at least 30 days prior to the end of such calendar quarter. A timely change in a Trustee's investment designation shall become effective on the first day of the calendar quarter following receipt by the President of the Fund.
(3) The investment media deemed to be made available to the Trustee, and any limitation on the maximum or minimum percentages of the Trustee's Deferral Account that may be invested in any particular medium, shall be the same as from time to time communicated to the Trustee by the President of the Fund.
(b) Except as provided below, the Trustee's Deferral Account shall be deemed to be invested in accordance with the investment designations, provided such designations conform to the provisions of this Section. If:
(1) the Trustee does not furnish the President of the Fund with written investment instructions,
(2) the written investment instructions from the Trustee are unclear, or
(3) less than all of the Trustee's Deferral Account is covered by such written investment instructions, then the Trustee's Deferral Account shall be deemed to be invested in the Fund until such time as the Trustee shall provide the President of the Fund with complete investment instructions. Notwithstanding the above, the Board of Directors, in its sole discretion, may disregard the Trustee's election and determine that all Compensation Deferrals shall be deemed to be invested in the Fund. The Fund shall provide an annual statement to the Trustee showing such information as is appropriate, including the aggregate amount in the Deferral Account, as of a reasonably current date.
Investment of Deferral Account Balance. (1) The Trustee may select from various options made available by the Funds the investment media in which all or part of his Deferral Account shall be deemed to be invested. The investment media available to the Trustee as of the date of this Agreement are listed in Attachment B hereto.
(2) The Trustee shall make an investment designation on a form provided by the Secretary of the Funds (Attachment C) which shall remain effective until another valid designation has been made by the Trustee as herein provided. The Trustee may amend his investment designation daily by giving instructions to the Secretary of the Funds.
(3) Any changes to the investment media to be made available to the Trustee, and any limitation on the maximum or minimum percentages of the Trustee's Deferral Account that may be invested in any particular medium, shall be communicated from time-to-time to the Trustee by the Secretary of the Funds.
(b) Except as provided below, the Trustee's Deferral Account shall be deemed to be invested in accordance with his investment designations, provided such designations conform to the provisions of this Section. If:
(1) the Trustee does not furnish the Secretary of the Funds with complete, written investment instructions, or
(2) the written investment instructions from the Trustee are unclear, then the Trustee's election to make Compensation Deferrals hereunder shall be held in abeyance and have no force and effect, and he shall be deemed to have selected the Evergreen Money Market Fund until such time as the Trustee shall provide the Secretary of the Funds with complete investment instructions. In the event that any fund under which any portion of the Trustee's Deferral Account is deemed to be invested ceases to exist, such portion of the Deferral Account thereafter shall be held in the successor to such Fund, subject to subsequent deemed investment elections.
Investment of Deferral Account Balance. (1) The Trustee may select, from various options made available by the Fund, the investment media in which all or part of his Deferral Account shall be deemed to be invested.
(2) The Trustee shall make an investment designation on a form provided by the President of the Fund which shall remain effective until another valid direction has been made by the Trustee as herein provided. On the investment designation form, the Trustee may select from underlying investment securities from theoptions made available to the Trustee pursuant to Section 3.3(a)(1). The Trustee may amend the investment designation only once each calendar quarter by giving written direction to the President of the Fund. Unless otherwise specified, a Trustee's amendment to an investment designation applies only to future compensation Deferrals. A Trustee may amend the investment designation for existing amounts in the Trustee's Deferral Account provided, however, that such changes in investment designation will only be valid and applied to the existing amounts in the Trustee's Deferral Account if the Trustee provides sufficient instruction regarding amounts to be exchanged. A change in
Investment of Deferral Account Balance. Subject to such limitations as -------------------------------------- may from time to time be required by law or imposed by the Committee, and subject to such operating rules and procedures as may be imposed from time to time by the Committee, each Director may express to the Committee a preference as to how the Director's Deferral Account should be constructively invested among the Investment Options.
(a) Any initial or subsequent expression of investment preference shall be in writing, on a form provided by and filed with the Committee, and shall be subject to such rules and procedures as the Committee may promulgate from time to time, including rules as to when an expression of investment preference will be effective. In the event a grantor trust has been established, the Committee shall forward the Directors expression of investment preference to the Trustee.
(b) If the Committee (or Trustee, in the case of establishment of a grantor trust) chooses to honor a Director's investment preferences, in whole or in part, (i) the contributions and credits and other amounts added to a Director's Deferral Account shall be constructively invested in accordance with the then effective designation of investment preference and (i) as of the effective date of any new investment preference, all or a portion of the Director's Deferral Account at that date shall be constructively reallocated among the designated Investment Options according to the directions specified in the investment preference unless and until a subsequent investment preference shall be filed and become effective. Unless otherwise announced by the Committee, investment preferences may be changed no more than two times per calendar year and must be received by the Committee no less than ten (10) days before the effective date of the change. In the event the Committee, or in the case a grantor trust is established, the Trustee, fails to honor a Director's expression of investment preference, in whole or in part, the Committee or Trustee shall so inform the Director as soon as reasonably practicable.
(c) If the Committee receives an initial or revised investment preference which it deems to be incomplete, unclear or improper, the Director's investment preference then in effect shall remain in effect (or, in the case of a deficiency in an initial investment preference) until the next Valuation Date, unless the Committee provides for, and permits the application of, corrective action prior to that time. ...
Investment of Deferral Account Balance. (1) The Trustee may select, from various options made available by the Fund, the investment media in which all or part of his Deferral Account shall be deemed to be invested.
(2) The Trustee shall make an investment designation on a form provided by the President of the Fund which shall remain effective until another valid direction has been made by the Trustee as herein provided. The Trustee may amend the investment designation as of the end of each calendar quarter by giving written direction to the President of the Fund at least 30 days prior to the end of such calendar quarter. A timely change in a Trustee's investment designation shall become effective on the first day of the calendar quarter following receipt by the President of the Fund.
(3) The investment media deemed to be made available to the Trustee, and any limitation on the maximum or minimum percentages of the Trustee's Deferral Account that may be invested in any particular medium, shall be the same as from time to time communicated to the Trustee by the President of the Fund.
(b) Except as provided below, the Trustee's Deferral Account shall be deemed to be invested in accordance with the investment designations,