Common use of Compensation Deferral Elections Clause in Contracts

Compensation Deferral Elections. (a) Before the first day of any Deferral Year, the Trustee may elect, on the Deferral Election Form attached as Exhibit A, to defer the receipt of all or a portion of the Trustee’s Compensation for services performed during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral Election Form to the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must set forth in writing the following information: (i) the percentage amount of the Trustee’s desired Compensation Deferral; (ii) the Payment Date for the Trustee’s Deferral Account, from among the options provided in Section 2.4; and (iii) the Payment Form for the Trustee’s Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals shall continue in effect for all subsequent Deferral Years, unless modified (including to zero) as provided below. (d) Compensation Deferrals shall be withheld from each payment of Compensation by the Funds to the Trustee based upon the percentage amount elected by the Trustee under this Section 2.3. (e) The Trustee may modify the amount of his Compensation Deferrals on a prospective basis by submitting to the Plan Administrator a Modification Form, which will apply, with respect to the percentage amount of the deferral, as of the first day of the next Deferral Year that begins after the date the Modification Form revision is received by the Plan Administrator. (f) When the deadline for making a Deferral Election expires, elections made with respect to such Deferral Year shall be irrevocable.

Compensation Deferral Elections. (a) Before Except as provided below, a deferral election on the form described in Section 2.1 hereof, must be filed with the Secretary of a Fund prior to the first day of any Deferral Year, the Trustee may elect, on the Deferral Election Form attached as Exhibit A, Year to defer the receipt of all or a portion of the Trustee’s Compensation for services performed during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral Election Form to the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must which it applies. The form shall set forth in writing the following information: (i) the percentage amount of the Trustee’s desired such Compensation Deferral; Deferral (ii) the Payment Date for the Trustee’s Deferral Account, from among the options provided in Section 2.4; and (iii) the Payment Form for the Trustee’s Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals whole percentage amounts). Such election shall continue in effect for all subsequent Deferral Years, Years unless it is canceled or modified (including to zero) as provided below. Notwithstanding the foregoing, (i) any person who is elected to the Board during a fiscal year of a Fund may elect before becoming a Trustee or within 30 days after becoming a Trustee to defer any unpaid portion of the retainer of such fiscal year and the fees for any future meetings during such fiscal year by filing an election form with the Secretary of the Fund, and (ii) Trustees may elect to defer any unpaid portion of the retainer for the fiscal year in which Deferred Compensation Agreements are first authorized by the Board and any unpaid fees for any future meetings during such fiscal year by submitting an election form to the Secretary of a Fund within 30 days of such authorization. (db) Compensation Deferrals shall be withheld from each payment of Compensation by the Funds a Fund to the Trustee based upon the percentage amount elected by the Trustee under this Section 2.33.1 (a) hereof. (ec) The Trustee may cancel or modify the amount of his Compensation Deferrals on a prospective basis by submitting to the Plan Administrator Secretary of a Modification Form, which will apply, with respect Fund a revised Compensation Deferral election form. Subject to the percentage amount provisions of the deferralSection 4.2 hereof, such change will be effective as of the first day of the next Deferral Year that begins after following the date the Modification Form such revision is received by submitted to the Plan AdministratorSecretary of the Fund. (f) When the deadline for making a Deferral Election expires, elections made with respect to such Deferral Year shall be irrevocable.

Compensation Deferral Elections. (a) Before Except as provided below, a deferral election on the form described in Section 2.1 hereof, must be filed with the Secretary of a Fund prior to the first day of any Deferral Year, the Trustee may elect, on the Deferral Election Form attached as Exhibit A, Year to defer the receipt of all or a portion of the Trustee’s Compensation for services performed during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral Election Form to the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must which it applies. The form shall set forth in writing the following information: (i) the percentage amount of the Trustee’s desired such Compensation Deferral; Deferral (iiin whole percentage amounts) the Payment Date for the Trustee’s Deferral Account, from among the options provided in Section 2.4; and (iii) the Payment Form for the Trustee’s Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals . Such election shall continue in effect for all subsequent Deferral Years, Years unless it is canceled or modified (including to zero) as provided below. Notwithstanding the foregoing, (i) any person who is elected to the Board during a fiscal year of a Fund may elect before becoming a Trustee or within 30 days after becoming a Trustee to defer any unpaid portion of the retainer of such fiscal year and the fees for any future meetings during such fiscal year by filing an election form with the Secretary of the Fund, and (ii) Trustees may elect to defer any unpaid portion of the retainer for the fiscal year in which Deferred Compensation Agreements are first authorized by the Board and any unpaid fees for any future meetings during such fiscal year by submitting an election form to the Secretary of a Fund within 30 days of such authorization. (db) Compensation Deferrals shall be withheld from each payment of Compensation by the Funds a Fund to the Trustee based upon the percentage amount elected by the Trustee under this Section 2.33.1 (a) hereof. (ec) The Trustee may cancel or modify the amount of his Compensation Deferrals on a prospective basis by submitting to the Plan Administrator Secretary of a Modification Form, which will apply, with respect Fund a revised compensation Deferral election form. Subject to the percentage amount provisions of the deferralSection 4.2 hereof, such change will be effective as of the first day of the next Deferral Year that begins after following the date the Modification Form such revision is received by submitted to the Plan AdministratorSecretary of the Fund. (f) When the deadline for making a Deferral Election expires, elections made with respect to such Deferral Year shall be irrevocable.

Compensation Deferral Elections. (a) Before the first day of any Deferral Year, the Trustee may elect, on the Deferral Election Form attached as Exhibit A, to defer the receipt of all or a portion of the Trustee’s 's Compensation for services performed during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral Election Form to the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must set forth in writing the following information: (i) the percentage amount of the Trustee’s 's desired Compensation Deferral; (ii) the Payment Date for the Trustee’s 's Deferral Account, from among the options provided in Section 2.4; and (iii) the Payment Form for the Trustee’s 's Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals shall continue in effect for all subsequent Deferral Years, unless modified (including to zero) as provided below. (d) Compensation Deferrals shall be withheld from each payment of Compensation by the Funds to the Trustee based upon the percentage amount elected by the Trustee under this Section 2.3. (e) The Trustee may modify the amount of his Compensation Deferrals on a prospective basis by submitting to the Plan Administrator a Modification Form, which will apply, with respect to the percentage amount of the deferral, as of the first day of the next Deferral Year that begins after the date the Modification Form revision is received by the Plan Administrator. (f) When the deadline for making a Deferral Election expires, elections made with respect to such Deferral Year shall be irrevocable.

Compensation Deferral Elections. (a) Before With respect to the first Deferral Year with respect to the Funds, and, for each subsequent Deferral Year with respect to the Funds, prior to the first day of any such Deferral Year, the Eligible Director/Trustee may electelect (taking into account, without limitation, the application of Section 409A of the Code, as the President of the Funds may deem appropriate), on the Deferral an Election Form attached as Exhibit AForm, to defer the receipt of all or a portion of the Trustee’s Compensation for services performed that he is entitled to receive from all of the Funds during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral . Such Election Form to shall allocate the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must set forth in writing the following information: (i) the percentage amount of the Trustee’s desired such Compensation Deferral; Deferral in ten percent (ii10%) the Payment Date increments for the Trustee’s Deferral Account, from among the options provided in series of a Fund selected under Section 2.4; and (iii) the Payment Form for the Trustee’s Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals 3.3 of this Agreement. Such election shall continue in effect for all subsequent Deferral Years, Years unless it is cancelled or modified (including to zero) as provided below. The deferral of Compensation from a Fund by an Eligible Director/Trustee pursuant to a Prior Agreement shall continue under this Agreement and shall be deemed an election to defer Compensation pursuant to this Section 3.1(a) unless the Eligible Director/Trustee submits a revised Election Form to the Funds pursuant to the terms of this Section 3.1. In the case of an election under a Prior Agreement applicable to one or more Funds, after which the Eligible Director/Trustee is to earn Compensation with respect to other Funds, then, unless the Eligible Director/Trustee provides express notice to the contrary, it shall be assumed that such election applies, and such election shall be applied, with respect to all Funds. (db) Effective as of the effective date of this Agreement, amounts deferred under a Prior Agreement shall be subject to the terms of this Agreement. (c) The Compensation Deferrals Deferral with respect to the Funds shall be withheld from each payment of Compensation (with such payments to be made on a quarterly basis and to include meeting fees due to the Eligible Director/Trustee for meetings that occurred in the prior quarter) by the Funds to the Eligible Director/Trustee based upon the percentage amount elected election by the Eligible Director/Trustee under Section 3.1(a) . (d) If a Fund for which the Eligible Director/Trustee serves as a director or trustee commences operations subsequent to the date of this Agreement, then the Eligible Director/Trustee’s election pursuant to this Section 2.33.1 shall, as of the date of such Fund’s commencement of operations, automatically apply to any Compensation the Eligible Director/Trustee is entitled to receive that is attributable to such Fund. (e) The Eligible Director/Trustee may cancel or modify his election under this Section 3.1 to defer Compensation with respect to the amount of his Compensation Deferrals Funds on a prospective basis by submitting to the Plan Administrator a Modification Form, which will apply, with respect to the percentage amount President of the deferralFunds a revised Election Form; provided, that any such revised election (within the meaning of Section 409A(a)(4)(C)) must, except as may otherwise be permitted under the rules applicable under Section 409A of the Code, (A) be effective at least one year after it is made, or, in the case of payments to commence at a specific time, be made at least one year before the first day scheduled payments, and (B) defer the commencement of the next Deferral Year that begins after the date the Modification Form revision is received by the Plan Administratordistributions (and each affected distribution) for at least five years. (f) When the deadline for making a The Eligible Director/Trustee’s Deferral Election expires, elections made Account with respect to the Funds shall be a bookkeeping entry only, and, as further set forth in Section 6.1, a Fund shall not be required to, and shall not, fund such Deferral Year shall be irrevocableAccount.

Compensation Deferral Elections. (a) Before With respect to the first Deferral Year with respect to a Fund, and, for each subsequent Deferral Year with respect to such Fund, prior to the first day of any such Deferral Year, the Eligible Director/Trustee may elect, on the Deferral an Election Form attached as Exhibit AForm, to defer the receipt of all or a portion of the Trustee’s Compensation for services performed that he is entitled to receive from such Fund during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral . Such Election Form to shall allocate the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must set forth in writing the following information: (i) the percentage amount of the Trustee’s desired such Compensation Deferral; Deferral in ten percent (ii10%) the Payment Date increments for the Trustee’s Deferral Account, from among the options provided in series of a Fund selected under Section 2.4; and (iii) the Payment Form for the Trustee’s Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals 3.3 of this Agreement. Such election shall continue in effect for all subsequent Deferral Years, Years unless it is cancelled or modified (including to zero) as provided below. The deferral of Compensation from a Fund by an Eligible Director/Trustee pursuant to a Prior Agreement shall continue under this Agreement and shall be deemed an election to defer Compensation pursuant to this Section 3.1(a) unless the Eligible Director/Trustee submits a revised Election Form to such Fund pursuant to the terms of this Section 3.1. In the case of an election under a Prior Agreement applicable to one or more Funds, after which the Eligible Director/Trustee is to earn Compensation with respect to other Funds, then, unless the Eligible Director/Trustee provides express notice to the contrary, it shall be assumed that such election applies, and such election shall be applied, with respect to all Funds. (db) Effective as of the effective date of this Agreement, amounts deferred under a Prior Agreement shall be subject to the terms of this Agreement other than Section 4. Effective for distributions commencing (without regard hereto) under a Prior Agreement at least 12 months after the effective date of this Agreement, amounts deferred under a Prior Agreement shall be distributed as set forth in Section 4 and not under the Prior Agreement (with distributions commencing under a Prior Agreement within 12 months after the effective date of this Agreement continuing to be made in accordance with the Prior Agreement). (c) The Compensation Deferrals Deferral with respect to each Fund shall be withheld from each payment of Compensation (with such payments to be made on a quarterly basis and to include meeting fees due to the Eligible Director/Trustee for meetings that occurred in the prior quarter) by the Funds Fund to the Eligible Director/Trustee based upon the percentage amount elected election by the Eligible Director/Trustee under Section 3.1(a). (d) Subsequent to the effective date of this Section 2.3Agreement, the Eligible Director/Trustee may elect to defer the receipt of the Compensation that he is entitled to receive from any additional Fund by submitting to the President of such Fund a revised Election Form, and upon the President of such Fund's executing a form substantially in the form attached hereto as Exhibit A. Such additional election will be effective as of the first day of the Deferral Year following the date such Election Form is submitted to the President of the Fund. (e) The Eligible Director/Trustee may cancel or modify the amount of his election under this Section 3.1 to defer Compensation Deferrals with respect to a Fund on a prospective basis by submitting to the Plan Administrator President of such Fund a Modification revised Election Form, which . Such change will apply, with respect to the percentage amount of the deferral, be effective as of the first day of the next Deferral Year that begins after following the date such revised Election Form is submitted to the Modification Form revision is received by President of the Plan AdministratorFund. (f) When the deadline for making a The Eligible Director/Trustee's Deferral Election expires, elections made Account with respect to a Fund shall be a bookkeeping entry only, and, as further set forth in Section 6.1, a Fund shall not be required to, and shall not, fund such Deferral Year shall be irrevocableAccount.

Compensation Deferral Elections. (a) Before Except as provided below, a deferral election on the form described in Section 2.1 hereof, must be filed with the Secretary of the Trust prior to the first day of any Deferral Year, the Trustee may elect, on the Deferral Election Form attached as Exhibit A, Year to defer the receipt of all or a portion of the Trustee’s Compensation for services performed during such Deferral Year; provided, however, that a Trustee newly appointed as Trustee to the Funds may make a deferral election with respect to Compensation payable for services to be performed after the election if such new Trustee submits a Deferral Election Form to the Plan Administrator within 30 days of commencing service as a Trustee. (b) Any Deferral Election Form must which it applies. The form shall set forth in writing the following information: (i) the percentage amount of the Trustee’s desired such Compensation Deferral; Deferral (ii) the Payment Date for the Trustee’s Deferral Account, from among the options provided in Section 2.4; and (iii) the Payment Form for the Trustee’s Deferral Account, from among the options provided in Section 2.5. (c) Compensation Deferrals whole percentage amounts). Such election shall continue in effect for all subsequent Deferral Years, Years unless it is canceled or modified (including to zero) as provided below. Notwithstanding the foregoing, (i) any person who is elected to the Board during a fiscal year of the Trust may elect before becoming a Trustee or within 30 days after becoming a Trustee to defer any unpaid portion of the retainer of such fiscal year and the fees for any future meetings during such fiscal year by filing an election form with the Secretary of the Trust, and (ii) Trustees may elect to defer any unpaid portion of the retainer for the fiscal year in which Deferred Compensation Agreements are first authorized by the Board and any unpaid fees for any future meetings during such fiscal year by submitting an election form to the Secretary of the Trust within 30 days of such authorization. (db) Compensation Deferrals shall be withheld from each payment of Compensation by the Funds Trust to the Trustee based upon the percentage amount elected by the Trustee under this Section 2.33.1 (a) hereof. (ec) The Trustee may cancel or modify the amount of his Compensation Deferrals on a prospective basis by submitting to the Plan Administrator Secretary of the Trust a Modification Form, which will apply, with respect revised Compensation Deferral election form. Subject to the percentage amount provisions of the deferralSection 4.2 hereof, such change will be effective as of the first day of the next Deferral Year that begins after following the date the Modification Form such revision is received by submitted to the Plan AdministratorSecretary of the Trust. (f) When the deadline for making a Deferral Election expires, elections made with respect to such Deferral Year shall be irrevocable.