No Deferral of Compensation Under Section 409A of the Code. All Plan Share Awards granted under the Plan are designed to not constitute a deferral of compensation for purposes of Section 409A of the Code, in reliance upon the short-term deferral exception in the proposed regulations. No Recipient shall be permitted to defer the recognition of income beyond the date a Plan Share Award shall be deemed earned pursuant to Article VII of this Plan.
Appears in 2 contracts
Samples: Recognition and Retention Plan for Directors and Trust Agreement (Esb Financial Corp), Recognition and Retention Plan for Officers and Trust Agreement (Esb Financial Corp)
No Deferral of Compensation Under Section 409A of the Code. All Plan Share Awards granted under the Plan are designed to not constitute a deferral of compensation for purposes of Section 409A of the Code, in reliance upon the exemption for the transfer of nonvested restricted property and the short-term deferral exception exemption in the proposed final regulations. No Recipient shall be permitted to defer the recognition of income beyond the date a Plan Share Award shall be deemed earned pursuant to Article VII of this Plan.
Appears in 2 contracts
Samples: Recognition and Retention Plan for Directors and Trust Agreement (Esb Financial Corp), Recognition and Retention Plan for Officers and Trust Agreement (Esb Financial Corp)
No Deferral of Compensation Under Section 409A of the Code. All Plan Share Awards granted under the Plan are designed to not constitute a deferral of compensation for purposes of Section 409A of the Code, in reliance upon the short-term deferral exception in the proposed regulations. No Recipient Participant shall be permitted to defer the recognition of income beyond the date a Plan Share Award shall be deemed earned pursuant to Article VII of this Plan.
Appears in 1 contract
Samples: Restricted Stock Plan and Trust Agreement (Esb Financial Corp)
