Irrevocable Election Agreement definition

Irrevocable Election Agreement means the written agreement, substantially in the form of Exhibit A, between the Company and a Participant, which, together with the Plan, governs the Participant’s rights to payment of Compensation under the Plan.
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Irrevocable Election Agreement means the written agreement, substantially in the form of Exhibit A, between the Company and a Participant.
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Examples of Irrevocable Election Agreement in a sentence

  • In order to participate in any Year, the Participant must complete and return the Irrevocable Election Agreement no later than the dates set forth in Section 6(b) and agree to defer a minimum of twenty-five percent (25%) of any Bonus, Performance Award or Supplemental Compensation which the Company or Subsidiary would otherwise pay to the Participant during such Year.

  • If a Participant desires to defer any Bonus, Performance Award or Supplemental Compensation, or the required portion thereof, the Irrevocable Election Agreement must be completed and returned (i) before the end of the Year in which the Bonus or Supplemental Compensation is earned, or (ii) before the end of the Performance Period with respect to any Performance Award.

  • The Participant shall specify in the Irrevocable Election Agreement to have any Year’s deferral, together with interest accrued thereon, paid in a lump sum or in a specified number of approximately equal annual installments.

  • At the time the Irrevocable Election Agreement is completed, the Participant shall be required to specify the term of deferral and manner of payment in accordance with the options provided in Section 8.