Deferral Agreement. (1) An Eligible Employee may make an irrevocable Deferral Agreement to make a Salary Reduction Contribution in one (1) percent increments, not to exceed the percentage of Compensation specified in the Adoption Agreement, by the end of the Election Period preceding the Taxable Year in which such Compensation subject to the Salary Reduction Contribution is earned. (2) Unless otherwise specified in the Adoption Agreement, the Deferral Agreement must specify: (i) The time of distribution; and (ii) The form of distribution. (3) A Deferral Agreement shall be made in accordance with procedures established by the Plan Administrator and in accordance with Code section 409A and regulations thereunder.
Appears in 4 contracts
Samples: Nonqualified Deferred Compensation Plan Document (S&t Bancorp Inc), Nonqualified Deferred Compensation Plan Document (Smith & Wesson Holding Corp), Nonqualified Deferred Compensation Plan Document (Acadia Healthcare Company, Inc.)
