Pay Reduction Agreement definition

Pay Reduction Agreement means an agreement between the Company and the Participant in which the Participant irrevocably elects to reduce his or her Compensation for the Plan Year and the Company agrees to treat the amount of the Compensation reduction as a Participant Contribution to this Plan.
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Pay Reduction Agreement means a written agreement between a Participant and his Employer under which the Employer reduces the Participant's Pay with respect to services rendered after the execution of the agreement and the Employer agrees to contribute the amount of the reduction to the Plan on behalf of the Participant as a Before-Tax Contribution.
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Pay Reduction Agreement means an agreement, in form satisfactory to the Administrator, by which an Active Participant agrees to have his or her Pay reduced by a specified percentage in exchange for a promise by his or her Participating Employer to make Elective Contributions of equivalent amount to the Trust.
Sample 1

Examples of Pay Reduction Agreement in a sentence

  • No election shall be effective to defer any Compensation that would otherwise be paid to the Participant before the period for which the Pay Reduction Agreement is effective.

  • The Pay Reduction Agreement shall be in such form as may reasonably be required by the Committee and shall be executed at the time and in the manner prescribed by the Committee.

  • An Eligible Employee shall become a Participant by timely submitting a Pay Reduction Agreement during an applicable deferral election period to defer part of the Eligible Employee’s Compensation to which such election relates.

  • Participant Contributions made by a Participant pursuant to an executed Pay Reduction Agreement shall be made by payroll deductions from such Compensation payable to the Participant to which the Pay Reduction Agreement relates.

  • All Participant Contributions (i) shall be made by payroll deductions from Compensation payable to the Participant during the Plan Year, and (ii) shall commence with the first pay date that falls within the Plan Year to which the Pay Reduction Agreement applies.

  • Except to the extent specifically provided otherwise in Section 3.5, each Pay Reduction Agreement shall apply to (and only to) the Plan Year next following the applicable annual enrollment period and shall remain in force only as to that Plan Year.

  • A Participant may elect to make Participant Contributions by timely submitting an executed Pay Reduction Agreement and such other forms as may be required by the Committee.

  • Any 2001 Enrollee who timely submits a Pay Reduction Agreement during the special enrollment period shall eligible to participate in the Plan for the 2001 Plan Year effective for Compensation paid on or after June 29, 2001.

  • In order for an election to make Participant Contributions to be effective for any given Plan Year, the Participant must submit an executed irrevocable Pay Reduction Agreement during the applicable enrollment period preceding the period as to which the election is to take effect.

  • Any Eligible Employee who timely submits a Pay Reduction Agreement for a Plan Year shall become a Participant on the first day of that Plan Year.

Related to Pay Reduction Agreement

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Designation Agreement means a designation agreement in substantially the form of Exhibit G attached hereto, entered into by a Bank and a Designated Lender and accepted by the Administrative Agent.

  • Allocation Agreement or “Agreement” shall mean this NMTC Program Allocation Agreement between the Fund and the Allocatee and Subsidiary Allocatee, as the case may be, including the Organization Specific Terms and Conditions (Schedule 1) and the General Allocation Terms and Conditions (Schedule 2) and any attachments hereto, as such Agreement may, from time to time, be amended in accordance with its terms.

  • Termination Agreement has the meaning set forth in the Recitals.

  • Transition Agreement means the Transition Power Sales Agreement dated as of November 24, 1998, by and between Seller, Southern Energy, Southern Energy Bowline, L.L.C. and Southern Energy Xxxxxx, L.L.C.

  • Payment Agreement means a written agreement which provides

  • Master Separation Agreement has the meaning set forth in the recitals.

  • the First Variation Agreement means the agreement a copy of which is set forth in the Second Schedule;

  • Severance Agreement means the Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

  • Tax Allocation Agreement means the Tax Allocation Agreement between Corporation and New D&B.

  • 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.

  • Salary reduction plan means a benefit plan whereby state and

  • Participation Agreement means, with respect to each Indenture, the "Participation Agreement" referred to therein.

  • Foundation Agreement means the agreement dated the 20th February 1985 made between the Trustee, the Manager, Xxxxxxxx, Genting WA and Tileska providing for the subscription of Units and Options;

  • Enrollment Agreement means an agreement between the Company and an employee, in such form as may be established by the Company from time to time, pursuant to which the employee elects to participate in this Plan, or elects changes with respect to such participation as permitted under the Plan.

  • Sponsor Letter Agreement has the meaning set forth in the recitals to this Agreement.

  • the Second Variation Agreement means the agreement a copy of which is set forth in the Third Schedule;

  • Variation Agreement means the agreement a copy of which is set out in Schedule 2;

  • Equity Contribution Agreement means the Equity Contribution Agreement, to be dated as of the Closing Date, by and among Guarantor, Borrower and Administrative Agent.

  • the Second Supplementary Agreement means the Second Supplementary Agreement, a copy of which is set out in Schedule 3;

  • Repayment Agreement means an agreement

  • Disbursement Agreement means the Master Disbursement Agreement, dated as of the Closing Date, by and among the Administrative Agent, the Bank Facilities Administrative Agent, the Disbursement Agent, the Borrowers and LCR, in substantially the form of Exhibit D-3 hereto, as the same may be amended, supplemented, amended and restated, or otherwise modified in accordance with the terms hereof and thereof.

  • Termination Letter has the meaning specified in Section 2.17(b).

  • Accommodation Agreement means the agreement between the Student, the School, the Parents, which governs the Student’s accommodation arrangements. Act means the Education Act 1989. Agreement means this Agreement including any schedules. Application Form means the standard enrolment form which forms the cover page of this Agreement. Code means the Education (Pastoral Care of International Students) Code of Practice 2016.

  • Letter Agreement has the meaning set forth in the Recitals.

  • Terms-of-service agreement means an agreement that controls the relationship between a user and a custodian.