Examples of Bonus Deferral in a sentence
If the Participant’s Bonus Deferral election is so canceled, the Participant may not again elect to make Bonus Deferrals until the first day of any Plan Year following the effective date of such cancellation (and only then by making a new Bonus Deferral election in accordance with Section 4.2(a) and 4.2(b)).
Except as provided in Section 4.2(c) and 4.2(e), the Participant’s election to make a Bonus Deferral for a Plan Year must be made on or before the applicable Bonus Election Date for such Plan Year and in the manner and within the time period required by the Administrator in accordance with the Nonqualified Deferred Compensation Rules.
If an Employee initially becomes eligible to participate in the Plan on or after the first day of a Plan Year, such Employee may, subject to Administrator approval, elect to make a Bonus Deferral of his Bonus for the remainder of the Plan Year if such Employee properly completes the election procedures required by the Administrator by his prescribed Bonus Election Date.
A Participant’s election to make a Bonus Deferral for a Plan Year will become effective as of the day immediately following the applicable Bonus Election Date.
A Participant’s Bonus Deferral election will be effected by deduction(s) from such Participant’s Bonus when the Bonus for which such election was made would otherwise be paid.