No Deferral of Compensation Under Section 409A of the Code. All Plan Share Awards granted under the Plan are designed to not constitute a deferral of compensation for purposes of Section 409A of the Code, in reliance upon the short-term deferral exception in the proposed regulations. No Recipient shall be permitted to defer the recognition of income beyond the date a Plan Share Award shall be deemed earned pursuant to Article VII of this Plan.
Appears in 2 contracts
Samples: Esb Financial Corp, Esb Financial Corp
No Deferral of Compensation Under Section 409A of the Code. All Plan Share Awards granted under the Plan are designed to not constitute a deferral of compensation for purposes of Section 409A of the Code, in reliance upon the exemption for the transfer of nonvested restricted property and the short-term deferral exception exemption in the proposed final regulations. No Recipient shall be permitted to defer the recognition of income beyond the date a Plan Share Award shall be deemed earned pursuant to Article VII of this Plan.
Appears in 2 contracts
Samples: Esb Financial Corp, Esb Financial Corp
No Deferral of Compensation Under Section 409A of the Code. All Plan Share Awards granted under the Plan are designed to not constitute a deferral of compensation for purposes of Section 409A of the Code, in reliance upon the short-term deferral exception in the proposed regulations. No Recipient Participant shall be permitted to defer the recognition of income beyond the date a Plan Share Award shall be deemed earned pursuant to Article VII of this Plan.. Article V
Appears in 1 contract
Samples: Esb Financial Corp
