Election of Deferment Sample Clauses

Election of Deferment. The Trustee hereby irrevocably elects to defer receipt of the amount or percentage set forth in the Election Form attached hereto of all retainer fees and fees for attendance at meetings (including fees relating to services as Chair or member of any Committee of the Trust’s Board of Trustees) which would otherwise be paid in cash to the Trustee (the “Fees”) with respect to services of the Trustee to be performed subsequent to the end of the calendar year during which this election is made.
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Election of Deferment. The Director may file with the Bank before January 1 of each year an election to defer all or any portion of his Director’s fees payable with respect to that calendar year, such election to be made in the form of Exhibit 1. Revocation of any such election may be effected by filing with the Bank written notice of revocation in the form of Exhibit 3. The last election filed before January 1 of such year shall determine the percentage of the Director’s fees payable for duties performed thereafter to be deferred for that calendar year and each subsequent calendar year until revoked not later than the close of the calendar year preceding that with respect to which such revocation is to be effective. If the Director shall have filed no election, he shall be deemed to have elected 0% as the percentage to be deferred for all years until he shall have filed an election.
Sample 1
Election of Deferment. The Director may file with the Company at any --------------------- time an election to defer all or a portion of his annual director's fee payable with respect to any fiscal year of the Company. Such election shall be substantially in the form of Exhibit 1 of this Agreement. Such election shall be effective with respect to all fees that have not been paid during the year of such election and for all fees for all subsequent years until terminated in accordance with Section 2.1 hereof or revoked. The Director may revoke an election by filing with the Company a revocation substantially in the form of Exhibit 2.
Sample 1
Election of Deferment. Date --------------------- Xxxxx International, Inc. 0000 Xxxxxxxxx Xxx., X.X., 0xx Xxxxx Xxxxxxxxxx, XX 00000 Gentlemen: In accordance with the provisions of the Deferment Of Compensation Agreement dated between the Company and the undersigned, I hereby -------------------- elect to defer % of the annual Director's fee payable to me during the fiscal --- year ending . I understand that this election is -------------------------- irrevocable as to that fiscal year and as to each succeeding fiscal year until revoked in writing filed not later than the last day of the fiscal year preceding that with respect to which said revocation is to be effective. Yours truly, --------------------------------------- Receipt of this election is hereby acknowledged this day of ------ , 19 . ---------------------- -- XXXXX INTERNATIONAL, INC. By ------------------------------------ Chairman and Chief Executive Officer --------------------------------------- Title
Sample 1

Related to Election of Deferment

  • Right of Deferral (i) The Company shall not be obligated to Register or qualify Registrable Securities pursuant to this Section 2:

  • Notification of Deduction The Union shall inform the Employer in writing of the authorized deduction to be checked off for Employees mentioned in Article 11.01.

  • Termination of Deduction The University Administration’s responsibility for deducting dues and other authorized deductions from a faculty member’s salary shall terminate automatically upon either

  • Salary Provisions A. Employees shall be compensated in accordance with the provisions of this Agreement for all hours worked.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • PAYROLL DEDUCTION OF DUES 4.1: On receipt of a lawfully executed written authorization from an employee, on a form approved by the City’s Director, General Accounting Division, the City will deduct each pay period from the employee’s pay, the amount specified by said employee, but not less than regular dues.

  • Deferral Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this Section 2.3, a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such twelve (12) month period. A demand right shall not be deemed to have been exercised until such deferred registration shall have been effected.

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.

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