Common use of Compensation Deferral Elections Clause in Contracts

Compensation Deferral Elections. (a) The Trustee may elect, on the form described in Section 2.1 hereof, to defer the receipt of all or a portion of the Compensation for such Deferral Year. Such writing shall set forth the amount of such Compensation Deferral (in whole percentage amounts). Such election shall continue in effect for all subsequent Deferral Years unless it is canceled or modified as provided below. (b) Compensation Deferrals shall be withheld from each payment of Compensation by the Fund to the Trustee based upon the percentage amount elected by the Trustee under Section 3.1(a) hereof. (c) The Trustee may cancel or modify the amount of his Compensation Deferrals on a prospective basis by submitting to the President of the Fund a revised Compensation Deferral election form. Such change will be effective as of the first day following the date such revision is submitted to the President of the Fund.

Compensation Deferral Elections. (a) The Trustee may elect, on the form described in Section 2.1 hereof, to defer the receipt of all or a portion of the Compensation for such Deferral Year. .Such writing shall set forth the amount of such Compensation Deferral (in whole percentage amounts). Such election shall continue in effect for all subsequent Deferral Years unless it is canceled or modified as provided below. (b) Compensation Deferrals shall be withheld from each payment of Compensation by the Fund to the Trustee based upon the percentage amount elected by the Trustee under Section 3.1(a) hereof. (c) The Trustee may cancel or modify the amount of his Compensation Deferrals on a prospective basis by submitting to the President of the Fund a revised Compensation Deferral election form. Such change will be effective as of the first day following the date such revision is submitted to the President of the Fund.