Compensation Deferral Agreement Sample Clauses

Compensation Deferral Agreement. The written agreement between an Eligible Individual and the Plan Sponsor to defer receipt by the Eligible Individual of Compensation. Such agreement shall state the deferral amount or percentage of Compensation to be withheld from the Eligible Individual’s Compensation and shall state the date on which the agreement is effective, as provided at Section 2.3.
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Compensation Deferral Agreement. In order to defer Compensation under the Plan for a given Taxable Year, an Eligible Individual must enter into a Compensation Deferral Agreement with the Plan Sponsor authorizing the deferral of all or part of the Participant’s Compensation for such Taxable Year. Upon receipt of a properly completed and executed Compensation Deferral Agreement, the Plan Administrator shall notify the Plan Sponsor to withhold that portion of the Participant’s Compensation specified in the Agreement. In no event will the Participant be permitted to defer more or less than the amount(s) specified by the Plan Sponsor in the Adoption Agreement. Subject to Section 7.1, the Compensation Deferral Agreement shall remain in effect for the duration of the Taxable Year to which it relates. If elected by the Plan Sponsor in the Adoption Agreement, and subject to Section 7.1, the Compensation Deferral Agreement also shall remain in effect for subsequent Taxable Years unless and until it is timely changed for a subsequent Taxable Year as described below. Except as provided below, a Compensation Deferral Agreement must be completed and returned to the Plan Sponsor prior to the first day of the Taxable Year in which services are performed for the Compensation deferred and shall be irrevocable for the Taxable Year except as otherwise provided hereunder.
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Compensation Deferral Agreement. The written agreement between an Eligible Employee and the Employer to defer receipt by the Eligible Employee of Compensation. Such agreement shall state the deferral amount or percentage of Compensation to be withheld from the Eligible Employee's Compensation and shall state the date on which the agreement is effective, as provided at paragraph 2.3.
Sample 1
Compensation Deferral Agreement. In order to defer Compensation under the Plan for a given Taxable Year, an Eligible Employee must enter into a Compensation Deferral Agreement with the Employer authorizing the deferral of all or part of the Participant's Compensation for such Taxable Year. The Compensation Deferral Agreement shall also specify the method of payment for benefits under the Plan and, if applicable, an Interim Distribution Date for the Participant's Compensation Deferrals for the period covered by the Compensation Deferral Agreement. All Compensation Deferral Agreements must be completed prior to the first day of the Taxable Year to which they relate. Notwithstanding the preceding sentence, if the Effective Date of the Plan is other than the first day of a Taxable Year, or if an employee becomes an Eligible Employee on a date other than the first day of a Taxable Year, the Compensation Deferral Agreement must be completed within 30 days after the Effective Date or within 30 days of the Eligible Employee's initial eligibility date. In no event shall a Participant be permitted to defer Compensation for a pay period which has commenced prior to the date on which the Compensation Deferral Agreement is signed by the Participant and accepted by the Plan Administrator. Upon receipt of a properly completed and executed Compensation Deferral Agreement the Plan Administrator shall notify the Employer to commence to withhold that portion of the Participant's Compensation specified in the Agreement. In no event will the Participant be permitted to defer more than the amount specified by the Employer in the Adoption Agreement. Except as otherwise provided herein or in Article VII, the Compensation Deferral Agreement shall remain in effect for the duration of the Taxable Year to which it relates. The Employer shall have the right to terminate a Participant's Compensation Deferral Agreement at any time upon written notice to the Participant. Such termination shall be effective on the first day of the next payroll period. In no event shall the Employer have the right to terminate a Compensation Deferral Agreement with respect to Compensation already deferred.
Sample 1
Compensation Deferral Agreement. Compensation Deferral Agreement means an agreement between a Participant and a Participating Employer that specifies (i) the amount of each component of Compensation that the Participant has elected to defer to the Plan in accordance with the provisions of Article IV, and (ii) the Payment Schedule applicable to one or more Accounts. The Committee may permit different deferral amounts for each component of Compensation and may establish a minimum or maximum deferral amount for each such component. Unless otherwise specified by the Committee in the Compensation Deferral Agreement, Participants may defer up to 75% of Compensation for a Plan Year. A Compensation Deferral Agreement may also specify the investment allocation described in Section 8.4.”
Sample 1
Compensation Deferral Agreement. Each of the undersigned acknowledges receipt of a copy of Waiver and Consent No. 4 to the Credit Agreement dated as of March 22, 1999, as previously amended by Amendment and Waiver No. 1 thereto dated as of May 14, 1999, Amendment and Waiver No. 2 thereto dated as of November 12, 1999 and Amendment and Waiver No. 3 thereto dated as of April 27, 2000, by and among Precept Business Services, Inc., the Lenders and the Agent (as so amended thereby and as farther amended, modified, supplemented and/or restated from time to time, the "Credit Agreement") which Waiver and Consent No. 4 is dated as of June 14, 2000 (the "Waiver"). Capitalized terms used in this Reaffirmation and not defined herein shall have the meanings given to them in the Credit Agreement. Each of the undersigned agrees to defer all bonus, supplemental compensation and other compensation either previously awarded or which may hereafter be awarded by the Borrower or its Subsidiaries to the undersigned, other than (i) base salary payable at a level consistent with the undersigned's base salary which he/she has been receiving during the period from January 1, 2000 to the present (ii) continuation of standard benefits and (iii) reimbursement for out-of-pocket expenses incurred in the ordinary course of business by such person in the course of conduct of the business of the Borrower or its Subsidiaries, such deferral to remain in effect until the earlier of (a) written consent by the Lenders under the Credit Agreement or (b) the repayment in full in cash of all of the Secured Obligations. Each of the undersigned acknowledges and agrees that the prior financial accommodations made by the Lenders to the Borrower and its Subsidiaries and the continued provision of financial accommodations by the Leaders to the Borrower and its Subsidiaries under the Credit Agreement is of significant benefit to each of the undersigned. Executed as of this 14th day of June, 2000 /s/ Xxxx Xxxxxx ------------------------------------------ /s/ Xxxxxx Xxxxx ------------------------------------------ /s/ Xxxxx X. Xxxxxxxx ------------------------------------------
Sample 1

Related to Compensation Deferral Agreement

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • 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.

  • Deferral Elections As provided in Sections 5(f), 6(h) and 14(d), the Executive may elect to defer the Pre-Change in Control Severance Payment, the Post-Change in Control Severance Payment and the Consulting Payment as follows. The Executive’s deferral election shall satisfy the requirements of Treasury Regulation Section 1.409A-2(b) and the terms and conditions of the Deferred Compensation Plan. Such deferral election shall designate the whole percentage (up to a maximum of 100%) of the Pre-Change in Control Severance Payment, the Post-Change in Control Severance Payment and the Consulting Payment to be deferred, shall be irrevocable when made, and shall not take effect until at least twelve (12) months after the date on which the election is made. Such deferral election shall provide that the amount deferred shall be deferred for a period of not less than five (5) years from the date the payment of the amount deferred would otherwise have been made, in accordance with Treasury Regulation Section 1.409A-2(b)(1)(ii).

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • 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.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • Deferral Period The Deferred Share Units will be subject to a deferral period in accordance with the election made by Grantee and the terms of the Deferred Compensation Plan. The Grantee may change the period of deferral by filing a subsequent election with the Company in accordance with the terms of the Deferred Compensation Plan. During the deferral period, the Grantee will have no right to transfer any rights under his or her Deferred Share Units and will have no other rights of ownership therein.

  • Nonqualified Deferred Compensation (a) It is intended that any payment or benefit which is provided pursuant to or in connection with this Agreement which is considered to be deferred compensation subject to Section 409A of the Code shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance.

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