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:
Deferral Account. The Executive shall be entitled to participate in the Company’s executive deferred compensation program in accordance with its terms. The benefits, terms, and conditions of such program shall be in the sole discretion of the Company.
Deferral Account. The vested portion of a Participant's Deferral Account shall be distributed to the Participant upon the termination of employment with the Company.
Deferral Account. The Company shall establish a Deferral Account on its books for the Director. The Deferral Account balance as of any date is determined by (a) taking the cash surrender value of the first simulated investment less the balance of the second simulated investment as of such date, and (b) dividing the net difference by the result of one minus the Company's highest marginal tax rate for the previous calendar year.
Deferral Account. A Deferral Account shall be established for each Participant for the purpose of recording the value of Deferrals made to the Plan in accordance with the Participant’s Deferral Election Agreement.
Deferral Account. A number of units equal to the number of shares of Common Stock otherwise deliverable to the Grantee from the exercise of the portion of the Option subject to the Deferral Election, less that number of shares of Common Stock used to exercise such portion of the Option pursuant to Section 3 hereof, shall be credited to a "deferral account" on behalf of the Grantee. The Grantee's deferral account shall be a bookkeeping account only.
Deferral Account. The Company shall maintain an account on its books in the name of the Optionee (the "Account") which shall be administered as follows:
1. The Account shall consist of two Sub-Accounts -- (a) the "Common Share" Sub-Account and (b) the "Cash" Sub-Account. The Common Share Sub-Account shall initially be credited with the number of Gain Shares. Such Sub-Account shall be deemed to be invested in Common Shares of the class covered by the Option and shall be credited with stock dividends declared thereon. Appropriate adjustments in the Common Share Sub-Account shall be made as equitably required to prevent dilution or enlargement of the Sub-Account from any stock dividend, stock split, reorganization or other such corporate transaction or event. The Cash Sub-Account shall be credited with an amount equal to the amount of the cash dividend paid periodically with respect to Common Shares multiplied by the number of Common Shares credited to the Common Share Sub-Account as of the record date for the corresponding cash dividend, PLUS, IF APPLICABLE, ANY ACTUAL EARNINGS CREDITED TO THE CASH SUB-ACCOUNT FOLLOWING THE ESTABLISHMENT OF THE GRANTOR TRUST DESCRIBED IN PARAGRAPH 3 BELOW.
2. The value of the Optionee's Account shall be determined from time to time by the Administrator in the following manner:
(a) The Account shall be valued as of each December 31 or more frequently as agreed upon by the Administrator, and shall again be valued as of the date that an Optionee receives any payment under the Agreement, in accordance with the procedures established by the Administrator.
(b) All allocations to the Account shall be deemed to have been made on the applicable valuation date in the manner set forth in this paragraph, even though actually determined at a later date.
3. All amounts which are credited to the Account shall be credited solely for purposes of accounting and computation and shall remain assets of the Company subject to the claims of the Company's general creditors. This Agreement is designed to be unfunded, with amounts payable hereunder being paid from the general assets of the Company. Notwithstanding the foregoing, the Company may, but is not required to, deposit the Gain Shares in a grantor trust for the purpose of securing the benefits to be provided to the Optionee pursuant to this Agreement. IN THE EVENT THAT THE GAIN SHARES ARE DEPOSITED IN A GRANTOR TRUST, THE OPTIONEE SHALL HAVE NO AUTHORITY OR RESPONSIBILITY TO REDIRECT THE INVESTMENT OF SUCH GAI...
Deferral Account. The Employee's deferral, if any, between 1% and 100% of his Compensation.
Deferral Account. The amount deferred by the Employee, if any, shall be allocated to the Employee's Deferral Account as of the last day of each month in which the Employee would have received the amount deferred but for his election to defer.
Deferral Account. The portion of a Participant’s Account attributable to Section 401(k) Deferrals.
