Prior Election definition

Prior Election means an election made by a Participant under the Prior Plan to defer all or a portion of his or her compensation payable by Pharmacia Corporation in accordance with the Prior Plan. Each Participant’s deferral election in effect under the Prior Plan shall be deemed a valid deferral election under this Plan and subject to the terms and conditions of this Plan.
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Examples of Prior Election in a sentence

  • If the Participant modifies only the form, and not the commencement date for payment, payments shall commence on the fifth anniversary of the date payment would have commenced under the Prior Election.

  • The date payments are to commence under the modified Payment Schedule must be no earlier than five years after the date payment would have commenced under the Prior Election.

  • Amounts that are deferred under this Plan pursuant to a Prior Election shall be treated as subject to a Retirement Election or a Date Certain Election, as specified in the Prior Election.

  • Each such Account shall be credited as of the relevant Payment Date with the amounts of all Deferred Compensation, including to the extent applicable Deferred Compensation pursuant to a Prior Election.

  • The date payments are to commence under the modified Payment Schedule must be no earlier than five (5) years after the date payment would have commenced under the Prior Election.

  • The calendar year in which payments are to commence under the modified Payment Schedule must be no earlier than the fifth calendar year after the calendar year payment would have commenced under the Prior Election.

  • If the Participant modifies only the form, and not the commencement date for payment, payments shall commence in the fifth calendar year following the calendar year payment would have commenced under the Prior Election.

  • For a Participant who does not make a New Election, such Participant's prior election, as in effect immediately preceding January 1, 1999 (the "Prior Election"), shall be deemed to be his or her irrevocable New Election except that, with respect to any amount that was determined based on the Share Unit Rate, the Participant shall be deemed to have made a New Election to have such amount determined in accordance with the Share Equivalent Rate.

  • If the Participant modifies only the form, and not the commencement date for payment, payments shall commence on the fifth (5th) anniversary of the date payment would have commenced under the Prior Election.

  • The modification election must be submitted to the Committee not less than 12 months prior to the date payments would have commenced as in effect prior to modification (the “Prior Election”) (in the case of installment payments, which shall be treated as a single payment, 12 months prior to the date the first amount was scheduled to be paid under the Prior Election).

Related to Prior Election

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • 10) Election has the meaning set forth in Section 6.05(a).

  • LCA Election has the meaning specified in Section 1.09(a).

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Stock Election shall have the meaning set forth in Section 3.2.2.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Investment Election means the Participant’s election to have deferred amounts credited with hypothetical earnings credits (or losses) that track the investment performance of the Investment Options and/or Common Stock in accordance with Article V.

  • Cash Election shall have the meaning set forth in Section 3.2.2.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Mixed Election has the meaning set forth in Section 3.01(b)(iii).

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • Extension Election has the meaning set forth in Section 2.16(c).

  • Election Date has the meaning specified in Section 3.12(h).

  • Deferral Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the amount of the Deferrals.