Compensation Deferred Sample Clauses

Compensation Deferred. During each Participant’s Deferral Period, the Company will, in addition to withholding amounts otherwise required by law to be withheld, withhold from the total salary and wages, calculated before tax and any such other amounts are deducted, that it would otherwise pay to the Participant from time to time in respect of services rendered by the Participant to the Company during his Deferral Period, the Participant’s Specified Percentage thereof.

Compensation Deferred. During each school year prior to the leave of absence, the Participant, for a maximum of six school years will receive their Current Compensation Amount, less the percentage amount which the Participant has specified in the Memorandum of Agreement for the school year in question which is to be retained by the School Division. Such percentage amount will be retained by the School Division and be invested in accordance with clause 3.3.

Compensation Deferred. (a) NISCO ▇▇▇▇▇es to recognize the contributions of DEBELLA ▇▇▇▇ the date of incorporation to the date of this Agreement, particularly the performance of services at little or no compensation during the formative years. Accordingly, the following deferred benefits have been granted in consideration of such prior services and are not dependent upon completion of the terms of this Agreement. (b) Following termination of DEBELLA'▇ ▇▇▇▇▇yment hereunder, whether early or upon completion of the term hereof, and whether early termination is for cause, without cause, or for reasons of disability, NISCO s▇▇▇▇ provide DEBELLA ▇▇▇▇ ▇he following benefits: (i) NISCO, ▇▇ ▇ISCO's ▇▇▇▇ ▇nd expense, shall continue DEBELLA'▇ medical, surgical, dental and hospitalization insurance coverage, as in effect on the date of termination, for a period of two (2) years following the date of termination. Thereafter, DEBELLA ▇▇▇▇▇ have the option to continue such insurance coverage at his expense. and (ii) if, during the term of DEBELLA'▇ ▇▇▇▇▇yment NISCO s▇▇▇▇ have obtained insurance on DEBELLA'▇ ▇▇▇▇ ▇or a specific business purpose (e.g., collateralization of institutional financing or key man replacement insurance) and such insurance shall no longer be needed for that purpose (e.g., upon repayment of the loan collateralized or upon termination of DEBELLA'▇ ▇▇▇▇▇ion as a key employee), then NISCO, ▇▇ ▇ts cost and expense, shall continue such insurance in force for the benefit of one or more beneficiaries designated from time to time by DEBELLA, ▇▇▇ a period of up to two (2) years following the date of termination. It is the intent of the parties that this provision shall apply to any insurance obtained during DEBELLA'▇ ▇▇▇▇▇yment, even where the need for such insurance shall be obviated because of or following termination of DEBELLA'▇ employment. In such event the period of continued coverage would be from the date the insurance need is obviated to a date two (2) years from the date of termination of DEBELLA'▇ ▇▇▇▇▇yment. Thereafter, DEBELLA ▇▇▇▇▇ have the option to continue such insurance coverage at his expense.

Compensation Deferred. Effective May 19, 1986 and until the earlier of the Director's death or termination of this Agreement, the Director agrees to defer all compensation for his future services up to but not exceeding the sum of Twenty Thousand and No/100 ($20,000.00) Dollars. Except however, if within thirty (30) days prior to the end of any fiscal year of the Association subsequent to the date hereof, the Director shall notify the Association in writing that an amount less than his full compensation for his services for the ensuing year is to be deferred, only such lesser amount in such ensuing year shall be deferred.

Compensation Deferred. During the term of her employment, the Board shall pay the Director of Schools an amount equal to 10% of her base salary, but not to exceed the maximum dollar amount allowed under federal and state law, that can be used for a tax deferred annuity or other qualified deferred compensation plan selected by the Director of Schools. This will be paid in equal installments at each pay period.

Compensation Deferred. The Company shall establish a bookkeeping account to record Employee’s rights to deferred compensation under this Agreement. Employee and the Company agree that: (a) The single sum value of the total amount deferred under this Part C as of Employee’s separation from service on March 31, 2007 is $72,892 (the “Total Deferral”). (b) The provisions of this Part C are considered a “nonaccount balance plan” for purposes of Code Section 409A. A portion of the Total Deferral was deferred prior to January 1, 2005, under the terms of the Original Agreements as in effect on October 3, 2004. The portion of the Total Deferral that was deferred prior to January 1, 2005 under this Part C (determined in accordance with Code Section 409A and Proposed Treasury Regulation § 1.409A-6(a)(3)(i)) is $66,510 (the “Grandfathered Benefit”). (c) The portion of the Total Deferral deferred after December 31, 2004 is $6,382 (the “409A Deferred Amount”).