Projected Deferral definition

Projected Deferral is an estimate, determined upon execution of a Joinder Agreement, of the total amount to be deferred by the Director during his Deferral Period, and so designated in the Director’s Joinder Agreement.
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Examples of Projected Deferral in a sentence

  • Commencing on the Effective Date, and continuing through the end of the Deferral Period, the Director and the Bank agree that the Director shall defer into his Elective Contribution Account up to one hundred (100%) percent of the monthly fees that the Director would otherwise be entitled to receive from the Bank for each month of the Deferral Period, with the total deferral during the term of the Deferral Period not to exceed the Director’s Projected Deferral.

  • Commencing on the Effective Date, and continuing through the end of the Deferral Period, the Executive and the Bank agree that the Executive shall defer into his Elective Contribution Account between one (1%) and fifteen (15%) percent of monthly base compensation that the Executive would otherwise be entitled to receive from the Bank for each month of the Deferral Period, with the total deferral during the term of the Deferral Period not to exceed the Executive's Projected Deferral.

  • If, in accordance with Section II of this Agreement, the Director’s Revised Projected Deferral exceeds the Director’s Projected Deferral; the Director’s Survivor’s Benefit may be recomputed to reflect the increase in the Director’s Projected Deferral.

  • The total deferral during the term of the Deferral Period shall not exceed the Director's Projected Deferral without Board of Director approval.

  • Contractor shall not delay or postpone any Work because of pending unresolved disputes, disagreements, or alternative resolution processes, except as Owner and Contractor may agree in writing.

  • If Early Involuntary Termination occurs, the Employer shall, in lieu of any other benefit hereunder, pay the Executive an annual benefit equal to the greater of (i) Two Hundred Thousand Dollars ($200,000) or (ii) an annual amount payable over fifteen (15) years commencing at Normal Retirement Age based on the Projected Deferral Account Balance at Normal Retirement Age and calculated using the Distribution Period Crediting Rate as of the date of Separation from Service.

  • I hereby elect to defer the following monthly amounts for a period of One Hundred Twenty (120) months known as the "Deferral Period" and will result in a "Projected Deferral" in the amount of $____________.

  • Such deferrals shall commence with respect to bonuses declared and paid after the execution of the Joinder Agreement for Plan Year 1997, shall renew annually unless otherwise changed and shall continue for a period of five years known as the "Deferral Period", and will result in a "Projected Deferral" in the amount of $__________ and a "Projected Deferred Bonus Benefit" of $__________.

  • The amount of such reduced Survivor's Benefit shall be determined by multiplying the monthly payment available as a Survivor's Benefit by a fraction, the numerator of which is equal to the total amount of bonus compensation actually deferred by the Executive, and the denominator of which is equal to the Executive's Projected Deferral.

  • At no time shall the Executive’s Revised Projected Deferral exceed the Executive’s Projected Deferral, without Board of Director approval.