Annual Deferred Amount definition

Annual Deferred Amount means the annual deferred cash incentive compensation amount, if any, that will be credited to the Participant’s Deferral Account based upon the following criteria, as more specifically set forth on Addendum A: (i) the percentage of the Participant’s annual bonus (if any) to be deferred (such amount determined by the Bank); and (ii) the Participant achieving certain performance objectives. The Board may change the criteria set forth on Addendum A on an annual basis, including to reduce the percentage deferred into the Deferral Account to zero; provided, however, that such criteria must be communicated to the Participant in writing by delivering a revised Addendum A to the Participant on or before March 31st of the current Plan Year. Otherwise, the Addendum A for the prior Plan Year will remain in effect.
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Annual Deferred Amount means the annual deferred compensation amount calculated in accordance with Addendum A
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Examples of Annual Deferred Amount in a sentence

  • The amount of the benefit under Section 3.5 is one hundred percent (100%) of the Deferral Account, regardless of the date an Annual Deferred Amount was credited to the Deferral Account, determined as of the date of the Change in Control.

  • Tenant may remove all alterations, additions, improvements and trade fixtures installed by Tenant from the Premises upon the expiration or earlier termination of this Lease; and, upon such removal, Tenant shall repair the Premises to a condition substantially similar to that condition when received by Tenant, except for normal wear and tear and damage due to casualty.

  • The Bank shall contribute the Annual Deferred Amount to the Deferral Account on the last day of the Plan Year.

  • The amount of the benefit under Section 3.1 is one hundred percent (100%) of the Deferral Account balance attributable to a specific Annual Deferred Amount, determined as of the Normal Annual Distribution Date.

  • At the end of each Plan Year, the Bank will determine the Annual Deferred Amount, if any, with respect to the Participant.

  • Upon termination of this Agreement, the Bank shall pay the Participant one hundred percent (100%) of the Deferral Account, regardless of the date an Annual Deferred Amount was credited to the Deferral Account, determined as of the date of the termination of this Agreement, with such payment to be made within sixty (60) days following termination of this Agreement.

  • Notwithstanding the preceding, upon the Participant’s attainment of Final Distribution Age, the Bank shall pay the Participant one hundred percent (100%) of the Deferral Account, regardless of the date an Annual Deferred Amount was credited to the Deferral Account, determined as of the date the Participant attained Final Distribution Age in a single-lump sum no later than sixty (60) days following the Participant’s attainment of Final Distribution Ageherein.

  • On the Normal Annual Distribution Date with respect to an Annual Deferred Amount, the Participant shall be entitled to the benefit described in this Section 3.1 in lieu of any other benefit under this Article 3.

  • Grantor affirms that Grantor has granted a continuing security interest in the Collateral in favor of Lender to secure any and all present and future Indebtedness of Grantor in favor of L▇▇▇▇▇, as may be outstanding from time to time set forth above, in principal, interest, costs, expenses, reasonable attorneys' fees and other fees and charges, with the continuing preferences and priorities provided under applicable Louisiana law.

  • The amount of Compensation actually deferred in any Fiscal Year, taking into account discontinuance of deferral pursuant to a Notice of Discontinuance, termination of Pankuch's employment, th▇ ▇▇▇▇▇ ▇f Pankuch, or otherwise is ▇▇▇▇▇▇after referred to as the "Annual Deferred Amount." The portions of Pankuch's Annual Deferre▇ ▇▇▇▇▇▇ deferred bi-weekly shall be credited to Pankuch's Retirement Acc▇▇▇▇ ▇▇-▇eekly, as Deferrals are accrued.