Compensation Deferred Sample Clauses

Compensation Deferred. During each year of the deferral period, the participant will receive his\her current compensation amount, less the percentage amount which the participant has specified in the Memorandum of Agreement, which is to be retained by the Board, and less statutory deductions and other withholdings. Such percentage amount may be varied, subject to clause 3.2, by giving written notice to the Board at least one (1) month prior to July 1 in any year for the next or subsequent years.
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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.
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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.
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Compensation Deferred. (a) NISCO xxxxxes to recognize the contributions of DEBELLA xxxx 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'x xxxxxyment 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 sxxxx provide DEBELLA xxxx xhe following benefits: (i) NISCO, xx XISCO's xxxx xnd expense, shall continue DEBELLA'x 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 xxxxx have the option to continue such insurance coverage at his expense. and (ii) if, during the term of DEBELLA'x xxxxxyment NISCO sxxxx have obtained insurance on DEBELLA'x xxxx xor 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'x xxxxxion as a key employee), then NISCO, xx xts cost and expense, shall continue such insurance in force for the benefit of one or more beneficiaries designated from time to time by DEBELLA, xxx 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'x xxxxxyment, even where the need for such insurance shall be obviated because of or following termination of DEBELLA'x 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'x xxxxxyment. Thereafter, DEBELLA xxxxx have the option to continue such insurance coverage at his expense.
Sample 1
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.
Sample 1
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”).
Sample 1
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.
Sample 1
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Related to Compensation Deferred

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

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

  • 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.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • 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.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • 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. (b) Neither Company nor Executive shall take any action to accelerate or delay the payment of any monies and/or provision of any benefits in any manner which would not be in compliance with Section 409A of the Code (including any transition or grandfather rules thereunder). (c) Because Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, any payments to be made or benefits to be delivered in connection with Executive’s “Separation from Service” (as determined for purposes of Section 409A of the Code) that constitute deferred compensation subject to Section 409A of the Code shall not be made until the earlier of (i) Executive’s death or (ii) six months after Executive’s Separation from Service (the “409A Deferral Period”) as required by Section 409A of the Code. Payments otherwise due to be made in installments or periodically during the 409A Deferral Period (“Delayed Payments”) shall be accumulated and paid in a lump sum as soon as the 409A Deferral Period ends, and the balance of the payment shall be made as otherwise scheduled. Any such benefits subject to the rule may be provided under the 409A Deferral Period at Executive’s expense, with Executive having a right to reimbursement from Company once the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled. Any Delayed Payments shall bear interest at the United States 5-year Treasury Rate plus 2%, which accumulated interest shall be paid to Executive as soon as the 409A Deferral Period ends. (d) For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to receive a series of separate payments and benefits to the fullest extent allowed by Section 409A of the Code. (e) Notwithstanding any other provision of this Agreement, neither Company nor its subsidiaries or affiliates shall be liable to Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Section 409A of the Code otherwise fails to comply with, or be exempt from, the requirements of Section 409A of the Code.

  • 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.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

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