OPC Deferred Compensation Plans definition

OPC Deferred Compensation Plans means the Occidental Petroleum Corporation Modified Deferred Compensation Plan and the Occidental Petroleum Corporation Supplemental Retirement Plan II, each as amended.
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Examples of OPC Deferred Compensation Plans in a sentence

  • On or prior to the Effective Time, CRC shall, or shall cause another CRC Entity to, establish and adopt one or more deferred compensation plans (the “CRC Deferred Compensation Plan”) to provide each CRC Group Employee who was eligible to participate in one or more OPC Deferred Compensation Plans as of immediately prior to the Effective Time (the “CRC Deferred Compensation Beneficiaries”) benefits following the Effective Time.

  • As of the Effective Time, the CRC Group Employees shall no longer participate in the OPC Deferred Compensation Plans.

  • OPC shall have sole responsibility for the administration of the OPC Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of OPC Group Employees, Former OPC Group Employees and Former CRC Group Employees, and no member of the CRC Group shall have any liability or responsibility therefor.

  • The Liabilities in respect of CRC Deferred Compensation Beneficiaries under the OPC Deferred Compensation Plans are hereby assumed by CRC, effective as of the Effective Time.

  • In connection with the assumption of the Liabilities under the OPC Deferred Compensation Plans in respect of CRC Deferred Compensation Beneficiaries, OPC shall (or shall cause a member of the OPC Group to), as soon as reasonably practicable after the Effective Time), transfer Assets in an amount equal to amounts funded in the OPC [name of grantor trust] with respect to CRC Deferred Compensation Beneficiaries (as determined by OPC) as of the Effective Time to the CRC Grantor Trust.

  • The Liabilities in respect of CRC Deferred Compensation Beneficiaries under the OPC Deferred Compensation Plans shall be assumed by the member of the CRC Group which sponsors the applicable CRC Deferred Compensation Plan, effective as of the Effective Time.

Related to OPC Deferred Compensation Plans

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 12 of the Plan.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • Deferred Compensation Agreement means an agreement to participate and to defer compensation between a Participant and the Company in such form and consistent with terms of the Plan as the Company may prescribe from time to time.

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).

  • Deferred Compensation means the Compensation elected by the Participant to be deferred pursuant to the Plan.

  • Deferred Plan means a trust governed by a registered retirement savings plan, registered retirement income fund, registered education savings plan or tax-free savings account.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Managing Member for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Parent Benefit Plan means any Employee Benefit Plan maintained by, sponsored by or contributed to by, or obligated to be contributed to by any Parent Group Entity.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after the effective date of the NYSE listing standard, (ii) after the person became an Executive Officer and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association.

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m)(i).

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.