DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS Sample Clauses

DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS. Each Lucent Non-Employee Director who has a deferred AT&T share unit account under the AT&T Deferred Compensation Plan for Non-Employee Directors shall be permitted an irrevocable election to have the share units in such account converted to their cash value and transferred to the cash account under the AT&T Deferred Compensation Plan for Non-Employee Directors, which election shall be made in accordance with procedures established by AT&T, in its sole discretion, before and effective as of the Closing Date. As of the Closing Date, the balance of any Lucent Non-Employee Director in either an AT&T share unit account or a cash account under the AT&T Deferred Compensation Plan for Non-Employee Directors shall be transferred to a Lucent share unit account or cash account, respectively, under the Lucent Deferred Compensation Plan for Non-Employee Directors, with a number of Lucent share units equal to the number of AT&T share units under the AT&T Deferred Compensation Plan for Non-Employee Directors as of the Closing Date multiplied by the amount obtained by dividing (A) the average of the daily high and low per-share prices of the AT&T Common Stock as listed on the NYSE during each of the five trading days Immediately after the Closing Date, by (B) the average of the daily high and low per-share prices of the Lucent Common Stock as listed on the NYSE during each of the five trading days Immediately after the Closing Date.
Sample 1
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DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS. Each Lucent Non-Employee Director who has a deferred AT&T share unit account under the AT&T Deferred Compensation Plan for Non-Employee Directors shall be permitted an irrevocable election to have the share units in such account converted to their cash value and
Sample 1
DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS. As of the Effective Time, in accordance with the terms of the PRGX Global, Inc. Deferred Compensation Plan for Non-Employee Directors (the “Directors Plan”), the Company shall take all actions reasonably necessary to provide that (i) the Directors Plan is terminated as of the Effective Time, (ii) no director will be eligible to participate in the Directors Plan after the Effective Time, and (iii) the Deferral Account (as defined in the Directors Plan) of each director participating in the Directors Plan shall be distributed to each such director, including each share of Company Common Stock otherwise distributable under the Directors Plan (each, a “Deferred Compensation Stock Unit”) (the value of which shall be determined based on the Per Share Price) (the “Company Directors Plan Consideration”) shall be distributed to each such director; provided, that such termination and all of the related foregoing actions shall be contingent upon the occurrence of the Effective Time. Additionally, if and to the extent any outstanding Company RSUs granted to a director of the Company, prior to the Effective Time, are subject to a deferral election under the Directors Plan, such Company RSUs shall be deemed to have been deferred into the Directors Plan in accordance with the applicable deferral election and then distributed to the director in payment of his or her Deferral Account as of the Effective Time.
Sample 1

Related to DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • EMPLOYEE DIRECTORS STOCK OPTIONS for a total of _______ shares of Common Stock of Parke Bancorp, Inc. (the "Xxxxxny") is hereby granted to _______________ (the "Optionee") at the price determined as provided in, and in all respects subject to the terms, definitions and provisions of the 2005 Option Plan (the "Plan") adopted by the Company which is incorporated by reference herein, receipt of which is hereby acknowledged. Such Stock Options do not comply with Options --- granted under Section 422 of the Internal Revenue Code of 1986, as amended.

  • 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.

  • 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.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • Reporting Subawards and Executive Compensation a. Reporting of first-tier subawards.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

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