Discretionary Credits. The Board may, in its sole discretion, allocate Discretionary Credits to the Participant’s SERP Account from time to time in accordance with Section 5.2 of the Plan.
Discretionary Credits. Five Discretionary Credits in the aggregate amount of $300,000 will be allocated to a Discretionary Credit Account (the “Discretionary Credit Account”) established for the benefit of Employee pursuant to Section 3.9 of the Deferred Compensation Plan. The Discretionary Credit Account shall be credited with: (i) $100,000 on July 1, 2019; and (ii) $50,000 on each of January 1, 2020 through January 1, 2023 provided that the Employee remains employed with APS on each such crediting date and demonstrates sustained competent performance of his assigned job responsibilities.
Discretionary Credits. The Company will apply the proceeds of each Discretionary Credit only to such lawful corporate purposes as the Company has specified in the Discretionary Credit Request for such Discretionary Credit.
Discretionary Credits. Two Discretionary Credits in the aggregate amount of $100,000 will be allocated to a Discretionary Credit Account (the “Discretionary Credit Account”) established for the benefit of Employee pursuant to Section 3.9 of the Deferred Compensation Plan. APS shall credit the Discretionary Credit Account with an amount equal to $50,000 on January 1, 2015 and an amount equal to $50,000 on January 1, 2016 provided that the Employee remains employed with APS on each such crediting date and demonstrates sustained competent performance of her assigned job responsibilities.
Discretionary Credits. Four Discretionary Credits in the aggregate amount of $1,300,000 will be allocated to four Discretionary Credit Accounts (“Discretionary Credit Account A,” “Discretionary Credit Account B”, “Discretionary Credit Account C” and “Discretionary Credit Account D”) established for the benefit of Executive pursuant to Section 3.9 of the Deferred Compensation Plan. Discretionary Credit Account A shall be credited with $200,000 as of July 1, 2014. Discretionary Credit Account B shall be credited with $300,000 on January 1, 2015 and Discretionary Credit Account C shall be credited with $300,000 on January 1, 2016. Discretionary Credit Account D shall be credited with $500,000 as of September 30, 2014.
Discretionary Credits. Three Discretionary Credits in the aggregate amount of $1,050,000 will be allocated to three Discretionary Credit Accounts (“Discretionary Credit Account A,” “Discretionary Credit Account B” and “Discretionary Credit Account C”) established for the benefit of Executive pursuant to Section 3.9 of the Deferred Compensation Plan. Discretionary Credit Account A shall be credited with $350,000 as of January 1, 2012. Discretionary Credit Account B shall be credited with $350,000 on January 1, 2013 and Discretionary Credit Account C shall be credited with $350,000 on January 1, 2014.
Discretionary Credits. Amounts described in Section 2.5.
Discretionary Credits. Subject to the requirements of Code Section 409A, the Plan Sponsor may credit the Account of a Participant with Discretionary Credits. For each Taxable Year, the Discretionary Credit will be equal to the difference between (a) the Safe Harbor Employer Basic Contributions, as defined under the Qualified Plan, that would have been credited to the Participant’s account under the Qualified Plan for the applicable year if (i) the Participant’s compensation included Compensation Deferrals made by the Participant under this Plan for such year; and (ii) the contribution under the Qualified Plan was calculated without regard to Code limitations, including the maximum compensation limitation of Code Section 401(a)(17) and/or the maximum annual addition limitation of Code Section 415, and (b) the Safe Harbor Employer Basic Contributions actually credited to the Participant’s account under the Qualified Plan for the year. This Discretionary Credit will be made at such time or times as the Plan Administrator determines in its discretion. Adjustments to Participant’s Accounts for Investment Credits or Debits will commence no earlier than the date on which the Discretionary Credits are actually credited to the Participants’ Accounts.
