Second Deferral Period definition

Second Deferral Period means the period from the Second Deferral Effective Date through March 31, 2022 (inclusive).
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Examples of Second Deferral Period in a sentence

  • The Plan will end in 2026, 24 months after the end of the Vesting Period, on the date of Grant of 15% of the Shares to the Beneficiaries at the end of the Second Deferral Period.

  • The proposed Plan provides for the free Grant of Shares of the Company following their Accrual: • for a total of 70% at the end of the Vesting Period, equal to three years (2021, 2022 and 2023);• for a total of 15% at the end of the First Deferral Period, equal to 12 months from the date of Grant of the first portion of Shares;• for a total of 15% at the end of the Second Deferral Period, equal to 24 months from the date of Grant of the first portion of Shares.

  • The proposed Plan provides for the free Grant of Shares of the Company following their Accrual: x for a total of 70% at the end of the Vesting Period, equal to three years (2021, 2022 and 2023);x for a total of 15% at the end of the First Deferral Period, equal to 12 months from the date of Grant of the first portion of Shares;x for a total of 15% at the end of the Second Deferral Period, equal to 24 months from the date of Grant of the first portion of Shares.

  • PBGC's assets consist primarily of accumulated premiums paid by covered plans (invested in Treasury securities) and plan assets that PBGC has taken over when it becomes trustee of terminated underfunded plans.PBGC's liabilities consist primarily of future benefit payment obligations both for trusteed plans and for those deemed likely to default.

  • The Grant of Shares shall take place following Accrual:x for a total of 70% of the Shares at the end of the Vesting Period;x for a total of 15% of the Shares at the end of the First Deferral Period;x for a total of 15% of the Shares at the end of the Second Deferral Period.

  • The Grant of Shares shall take place:• for a total of 70% of the Shares at the end of the Vesting Period and by 30 June 2024;• for a total of 15% of the Shares at the end of the First Deferral Period;• for a total of 15% of the Shares at the end of the Second Deferral Period.

  • The Grant of Shares shall take place:x for a total of 70% of the Shares at the end of the Vesting Period and by 30 June 2024;x for a total of 15% of the Shares at the end of the First Deferral Period;x for a total of 15% of the Shares at the end of the Second Deferral Period.

  • The Shares Granting shall take place after the Shareholders’ Meeting which will approve the Company Financial Statements and take note of the Consolidated Financial Statements as of 31st December 2025: • for a total of 70% of the Shares at the end of the Vesting Period and by 30th June 2026;• for a total of 15% of the Shares at the end of the First Deferral Period;• for a total of 15% of the Shares at the end of the Second Deferral Period.

  • The proposed Plan provides for the Grant of Shares free of charge of the Company following their Accrual: • for a total of 70% at the end of the Vesting Period, equal to three years (, 2023,2024 and 2025);• for a total of 15% at the end of the First Deferral Period, equal to 12 months from the date of Grant of the first portion of Shares;• for a total of 15% at the end of the Second Deferral Period, equal to 24 months from the date of Grant of the first portion of Shares.

Related to Second Deferral Period

  • Deferral Period has the meaning set forth in Section 3(h) hereof.

  • Deferral Year means each calendar year during which the Trustee makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Plan Year means the calendar year.

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • 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.

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

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • 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.

  • Election Period shall have the meaning set forth in Section 14.3(a).

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

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

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Limitation Year means the Plan Year.

  • 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.

  • Election cycle means the period beginning on the first day persons are eligible to

  • 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.