Stockholder Notes and Deferred Compensation Liabilities definition

Stockholder Notes and Deferred Compensation Liabilities means (i) liabilities to the Xxxxxxxxx X. Xxxxxx III Individual Property Trust u/a/d September 29, 2005; the Xxxxxxxxx X. Xxxxxx III Irrevocable Trust of 1992, dated July 9, 1992; the Xxxxxxxx Xxxxxx Irrevocable Trust of 1992, dated July 9, 1992; Xxxxxxxx Xxxxxx; the Xxxxxxx Xxxxxx Irrevocable Trust of 1992 dated July 9, 1992; Xxxxxxx Xxxxxx; the Xxxxxxxxx Xxxxxx Irrevocable Trust of 1992 dated July 9, 1992; and Xxxxxxxxx Xxxxxx in the aggregate amount as of October 4, 2010 of $4,315,199.70 (collectively, the “Former Stockholder Debt”); (ii) amounts owing to Xxxxxxx Xxxxxxxx pursuant to his Employment Agreement dated November 30, 2008 for deferred compensation in the amount of $79,550.00 (plus a discretionary amount of $73,125.00 for the period January 1, 2010 through September 30, 2010) and for severance (if terminated) (the “Xxxxxxxx Xxxxxxxxx Obligation”) currently estimated in the amount of $292,940.00 (“Xxxxxxxx Amount”); (iii) amounts owing to Xxxx Xxxxxx pursuant to his Employment Agreement dated November 30, 2008 for deferred compensation in the amount of $34,834.00 (plus a discretionary amount of $34,125.00 for the period January 1, 2010 through September 30, 2010) and for severance (the “Xxxxxx Xxxxxxxxx Obligation”) currently estimated in the amount of $221,675.00 (“Konrad Amount”); (iv) amounts owing to Xxxxxxx Xxxxxxxx and Xxxx Xxxxxx pursuant to their change in control letter agreements dated as of August 9, 2009 in the amount of $200,000.00 for each of Xx. Xxxxxxxx and Xx. Xxxxxx; (v) payments due Xxxx Xxxxxx and Xxxxxxx Xxxxxxxx, each in the amount of $60,543.00 in connection with the termination by Corporation of the Aerial Company, Inc. Phantom Stock Unit Plan; and (vi) deferred compensation payments to Xxxxxxxxx X. Xxxxxx pursuant to that certain Deferred Compensation and Noncompetition Agreement dated May 15, 1992 (the “Xxxxxx Deferred Compensation Agreement”), which liability has been actuarially calculated to be $735,927.00.

Related to Stockholder Notes and Deferred Compensation Liabilities

  • 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.

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

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

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

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

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

  • Canadian Benefit Plan means any plan, fund, program or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Loan Party has any liability with respect to any of its employees or former employees employed in Canada, and includes any Canadian Pension Plan.

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

  • 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.

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).

  • 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.

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

  • 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.

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Company Contribution Amount means, for any one Plan Year, the amount determined in accordance with Section 3.5.

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

  • 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.

  • Seller Benefit Plans has the meaning set forth in Section 4.10(a).

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

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

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • Unfunded Vested Liabilities means, for any Plan at any time, the amount (if any) by which the present value of all vested nonforfeitable accrued benefits under such Plan exceeds the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the Controlled Group to the PBGC or the Plan under Title IV of ERISA.

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

  • 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.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Other Benefit Obligations means all obligations, arrangements, or customary practices, whether or not legally enforceable, to provide benefits, other than salary, as compensation for services rendered, to present or former directors, employees, or agents, other than obligations, arrangements, and practices that are Plans. Other Benefit Obligations include consulting agreements under which the compensation paid does not depend upon the amount of service rendered, sabbatical policies, severance payment policies, and fringe benefits within the meaning of IRC ss. 132.