In-Service Distributions. If the Employer elects below, the Plan will allow distributions of Participant Deferral Contributions to be made to Participants while they are still employed (“In-Service Distributions”), if they elect a fixed distribution date during the regular election period. [Select one] o No, In-Service Distributions will not be permitted. x Yes, In-Service Distributions will be permitted. [select one ]. x For All Participant Deferral Contributions o For Participant Compensation Deferral Contributions (other than Performance-Based Bonus) only. o For Participant Performance-Based Bonus Deferral Contributions. o For Employer Contributions. [if selected, employer contributions must be 100% vested, and additional fees may apply]. If Employer wishes to limit in-service withdrawals to specific types of Employer Contributions, enter details below: [Note — if “Yes” is elected above and the Plan will allow In-Service Distributions, please indicate if Participant will be permitted to make a “pushback” subsequent election to defer the original distribution date at least five years in accordance with Plan provisions (see subsection 9.1 of Plan document — note that election must be made 12 months prior to original distribution date and election will not take effect for 12 months) x Yes o No ]
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Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Main Street Capital CORP)
In-Service Distributions. If the Employer elects below, the Plan will allow distributions of Participant Deferral Contributions to be made to Participants while they are still employed (“In-Service Distributions”), if they elect a fixed distribution date during the regular election period. [Select one] o ☒ No, In-Service Distributions will not be permitted. x ☐ Yes, In-Service Distributions will be permitted. [select one ]. x ☐ For All Participant Deferral Contributions o ☐ For Participant Compensation Deferral Contributions (other than Performance-Based Bonus) only. o ☐ For Participant Performance-Based Bonus Deferral Contributions. o ☐ For Employer Contributions. [if selected, employer contributions must be 100% vested, and additional fees may apply]. If Employer wishes to limit in-service withdrawals to specific types of Employer Contributions, enter details below: 128470050v1 [Note — - if “Yes” is elected above and the Plan will allow In-Service Distributions, please indicate if Participant will be permitted to make a “pushback” subsequent election to defer the original distribution date at least five years in accordance with Plan provisions (see subsection 9.1 of Plan document — - note that election must be made 12 months prior to original distribution date and election will not take effect for 12 months) x ☐ Yes o ☐ No ]] ☐ 2 Years after the Calendar Year for which the deferral is effective ☐ Years after the Calendar Year for which the deferral is effective ☐ No (single distribution date allowed per Plan Year) ☐ Yes (requires additional tracked sources per Plan Year)
Appears in 1 contract
Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (Carter Bankshares, Inc.)
In-Service Distributions. If the Employer elects below, the Plan will allow distributions of Participant Deferral Contributions to be made to Participants while they are still employed (“In-Service Distributions”), if they elect a fixed distribution date during the regular election period. [Select one] o ☐ No, In-Service Distributions will not be permitted. x ☒ Yes, In-Service Distributions will be permitted. [select one ]. x ☒ For All Participant Deferral Contributions o ☐ For Participant Compensation Deferral Contributions (other than Performance-Based Bonus) only. o ☐ For Participant Performance-Based Bonus Deferral Contributions. o ☐ For Employer Contributions. [if selected, employer contributions must be 100% vested, and additional fees may apply]. If Employer wishes to limit in-service withdrawals to specific types of Employer Contributions, enter details below: _________________________________________________________________ [Note — - if “Yes” is elected above and the Plan will allow In-Service Distributions, please indicate if Participant will be permitted to make a “pushback” subsequent election to defer the original distribution date at least five years in accordance with Plan provisions (see subsection 9.1 of Plan document — - note that election must be made 12 months prior to original distribution date and election will not take effect for 12 months) x ☒ Yes o ☐ No] ☐ 2 Years after the Calendar Year for which the deferral is effective ☒ 1 Years after the Calendar Year for which the deferral is effective ☒ No ](single distribution date allowed per Plan Year) ☐ Yes (requires additional tracked sources per Plan Year)
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In-Service Distributions. If the Employer elects below, the Plan will allow distributions of Participant Deferral Contributions to be made to Participants while they are still employed (“In-Service Distributions”), if they elect a fixed distribution date during the regular election period. [Select one] o ☐ No, In-Service Distributions will not be permitted. x ☒ Yes, In-Service Distributions will be permitted. [select one ]. x ☒ For All Participant Deferral Contributions o ☐ For Participant Compensation Deferral Contributions (other than Performance-Based Bonus) only. o ☐ For Participant Performance-Based Bonus Deferral Contributions. o ☒ For Employer Contributions. [if selected, employer contributions must be 100% vested, and additional fees may apply]. If Employer wishes to limit in-service inservice withdrawals to specific types of Employer Contributions, enter details below: [Note — – if “Yes” is elected above and the Plan will allow In-Service Distributions, please indicate if Participant will be permitted to make a “pushback” subsequent election to defer the original distribution date at least five years in accordance with Plan provisions (see subsection 9.1 of Plan document — – note that election must be made 12 months prior to original distribution date and election will not take effect for 12 months) x ☒ Yes o ☐ No] ☐ 2 Years after the Calendar Year for which the deferral is effective ☒ 1 Years after the Calendar Year for which the deferral is effective ☒ No ](single distribution date allowed per Plan Year) ☐ Yes (requires additional tracked sources per Plan Year)
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Samples: Nonqualified Supplemental Deferred Compensation Plan Adoption Agreement (C & F Financial Corp)
In-Service Distributions. If the Employer elects below, the Plan will allow distributions of Participant Deferral Contributions to be made to Participants while they are still employed (“In-Service Distributions”), if they elect a fixed distribution date during the regular election period. [Select one] o ¨ No, In-Service Distributions will not be permitted. x Yes, In-Service Distributions will be permitted. [select one one]. x For All Participant Deferral Contributions o ¨ For Participant Compensation Deferral Contributions (other than Performance-Based Bonus) only. o ¨ For Participant Performance-Based Bonus Deferral Contributions. o ¨ For Employer Contributions. [if selected, employer contributions must be 100% vested, and additional fees may apply]. If Employer wishes to limit in-service withdrawals to specific types of Employer Contributions, enter details below: [Note — – if “Yes” is elected above and the Plan will allow In-Service Distributions, please indicate if Participant will be permitted to make a “pushback” subsequent election to defer the original distribution date at least five years in accordance with Plan provisions (see subsection 9.1 of Plan document — – note that election must be made 12 months prior to original distribution date and election will not take effect for 12 months) x Yes o No ¨ No]
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Samples: Nonqualified Deferred Compensation Plan Adoption Agreement (Quanta Services Inc)