Common use of Interest on Deferred Amounts Clause in Contracts

Interest on Deferred Amounts. Upon payment of any amounts of compensation deferred for any period of time pursuant to this Section 24, Key shall pay to Gillxxxxx xx additional amount equivalent to the interest that would have accrued on such deferred compensation if interest accrued thereon on a daily basis from the date on which that compensation would have been paid but for this Section 24 through the date on which that compensation is paid at a rate varying from month to month and equal to 50 basis points higher than the effective annual yield of the average of the Moody's Average Corporate Bond Yield Index for the previous month, as published by Moodx'x Xxxestor Services, Inc. (or any successor published thereto), or, if such index is no longer published, a substantially similar index selected by the Accounting Firm, with interest compounded as of the end of each month.

Appears in 1 contract

Samples: Employment Agreement (Keycorp /New/)

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Interest on Deferred Amounts. Upon payment of any amounts of compensation deferred for any period of time pursuant to this Section 2414, Key shall pay to Gillxxxxx xx Xxxxx an additional amount equivalent to the interest that would have accrued on such deferred compensation if interest accrued thereon on a daily basis from the date on which that compensation would have been paid but for this Section 24 14 through the date on which that compensation is paid at a rate varying from month to month and equal to 50 basis points higher than the effective annual yield of the average of the Moody's Average Corporate Bond Yield Index for the previous month, as published by Moodx'x Xxxestor Xxxxx'x Investor Services, Inc. (or any successor published thereto), or, if such index is no longer published, a substantially similar index selected by the Accounting Firm, with interest compounded as of the end of each month.

Appears in 1 contract

Samples: Employment Agreement (Keycorp /New/)

Interest on Deferred Amounts. Upon payment of any amounts of compensation deferred for any period of time pursuant to this Section 2413, Key shall pay to Gillxxxxx Meyex xx additional amount equivalent to the interest that would have accrued on such deferred compensation if interest accrued thereon on a daily basis from the date on which that compensation would have been paid but for this Section 24 13 through the date on which that compensation is paid at a rate varying from month to month and equal to 50 basis points higher than the effective annual yield of the average of the Moody's Average Corporate Bond Yield Index for the previous month, as published by Moodx'x Xxxestor Services, Inc. (or any successor published thereto), or, if such index is no longer published, a substantially similar index selected by the Accounting Firm, with interest compounded as of the end of each month.

Appears in 1 contract

Samples: Employment Agreement (Keycorp /New/)

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Interest on Deferred Amounts. Upon payment of any amounts of compensation deferred for any period of time pursuant to this Section 2414, Key shall pay to Gillxxxxx Meyex xx additional amount equivalent to the interest that would have accrued on such deferred compensation if interest accrued thereon on a daily basis from the date on which that compensation would have been paid but for this Section 24 14 through the date on which that compensation is paid at a rate varying from month to month and equal to 50 basis points higher than the effective annual yield of the average of the Moody's Average Corporate Bond Yield Index for the previous month, as published by Moodx'x Xxxestor Services, Inc. (or any successor published thereto), or, if such index is no longer published, a substantially similar index selected by the Accounting Firm, with interest compounded as of the end of each month.

Appears in 1 contract

Samples: Employment Agreement (Keycorp /New/)

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