Payment of Deferred Amounts Sample Clauses

Payment of Deferred Amounts. Any portion of the Bonus Payments that is not paid to the Executive as a result of the limitation imposed by paragraph 1 above, together with interest credits in accordance with paragraph 2 above (collectively, the "Deferred Amounts"), shall be paid to the Executive in full within 10 business days of the earlier of (i) his termination of employment from the Company for any reason or (ii) the occurrence of a "Change in Control of the Corporation," as defined under the Company's 1997 Long-Term Incentive Plan (or any successor plan); provided, however, that all or any portion of the Deferred Amounts shall be paid to the Executive in any earlier year or years to the extent that (i) such amount, together with all other "applicable employee remuneration" for such year, would not be disallowed as a federal income tax deduction by the Company for such year because of the limitation imposed by Section 162(m), as determined in good faith by the Company in its sole discretion and (ii) the year of payment follows by at least one complete calendar year the year in which the Bonus Payment would have been made to the Executive but for the provisions of this Agreement.
Sample 1
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Payment of Deferred Amounts. The amount deferred pursuant to the election, plus or minus any earnings or losses thereon pursuant to Subsection (c) hereof (the "Deferred Amount"), will be paid to the Participant (or, in the event of the Participant's death, the person or estate determined under Section 9 hereof), on the date(s) and in the manner selected by the Participant on the payment deferral form prescribed by the Committee. Upon termination of employment other than on account of death, Disability or Retirement, the amount deferred pursuant to the election will ordinarily be paid to the Participant in a lump sum within sixty (60) days of such termination, however, the Committee may, in its sole discretion, choose to defer payment until the time previously elected by such Participant pursuant to this Section 8.
Sample 1
Payment of Deferred Amounts. Section 2.05 of the Agreement is hereby added as follows:
Sample 1
Payment of Deferred Amounts. Upon the occurrence of the Deferred Payment Termination Date, all Deferred Amounts shall be immediately due and payable in full in cash at the direction of the Majority Funds (or in the case of any Event of Default under clauses (e) or (f) of Article VIII hereof or any Deferral Termination Event occurring by the virtue of an event of default occurring under either clause (h) or clause (i) of Article VII of the Senior Credit Facility, immediately upon the occurrence of such Event of Default or Deferral Termination Event). In any event, all Deferred Amounts, to the extent not previously rendered due and payable pursuant to the terms of the immediately preceding sentence, shall be due and payable (without any action or direction from any Fund) in full in cash on December 31, 2011.”
Sample 1
Payment of Deferred Amounts. Upon the occurrence of a Deferral Termination Event, all Deferred Amounts shall be due and payable at the direction of the Required Lenders (or in the case of any Deferral Termination Event occurring by virtue of an Event of Default occurring under either clause (h) or clause (i) of Article VII immediately upon the occurrence of such Deferral Termination Event). For the avoidance of doubt, all Deferred Amounts, to the extent not previously due and payable pursuant to the terms of the immediately preceding sentence, shall be due and payable on December 31, 2011 (or such later date as may be agreed to by the Supermajority Lenders and the Company but in no event to be later than the Maturity Date).
Sample 1
Payment of Deferred Amounts. Amounts in cash equal to the value(s) of the Director's Aon General Account, as determined above, shall be payable to the Director as specified on the Election Form. Distributions from the Aon Common Stock Account may be made in cash, in Aon Common Stock, or in a combination of cash and Aon Common Stock.
Sample 1
Payment of Deferred Amounts. Section 2.05 of the Agreement is hereby added as follows: “Payment of Deferred Amounts. Upon the occurrence of the Deferred Payment Termination Date, all Deferred Amounts shall be immediately due and payable in full in cash at the direction of the Majority Funds (or in the case of any Event of Default under clauses (e) or (f) of Article VIII hereof or any Deferral Termination Event occurring by the virtue of an event of default occurring under either clause (h) or clause (i) of Article VII of the Senior Credit Facility, immediately upon the occurrence of such Event of Default or Deferral Termination Event). In any event, all Deferred Amounts, to the extent not previously rendered due and payable pursuant to the terms of the immediately preceding sentence, shall be due and payable (without any action or direction from any Fund) in full in cash on December 31, 2011.”
Sample 1
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Payment of Deferred Amounts. Subject to the provisions of Paragraph 5 below, payment of the deferred salary and additional amounts credited to the Account as interest shall not commence to be made to the Employee until the Initial Disbursement Date (as defined herein) and shall be made in quarterly installments over a five-year period following the Initial Disbursement Date. The amount of each quarterly installment shall be computed by dividing the balance of the Account (including interest) by the number of installments remaining to be paid under the agreement. For purposes of this Deferred Compensation Agreement, the term “Initial Disbursement Date” shall be the date of the Employee’s termination of employment with Scholastic; provided, however, that if the Initial Disbursement Date is determined when the Employee is a “key employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, the first installment payment otherwise payable to the Employee hereunder shall be delayed by six calendar months.
Sample 1
Payment of Deferred Amounts. The Corporation shall pay the following benefits as deferred compensation to the Employee (unless they are forfeited by the occurrence of any of the events of forfeiture specified in paragraph 3(b) below) as follows: (a) If the Employee's employment with the Corporation is terminated for any reason on or after the Employee shall have reached the age of sixty (60), the Corporation shall pay to him in a lump sum or in ten (10) annual installments an amount equal to the fair market value of the assets in the Deferred Compensation Account as of such date. The method of payment shall be determined by the Employee by written direction to the Corporation at the time of such termination and, absent such written direction, the Corporation shall pay such amount in a lump sum. If the Employee directs the Corporation to pay such amount over ten (10) annual installments, the total amount payable to the Employee shall be appropriately increased or decreased, as the case may be, to reflect the appreciation or depreciation in value and the net income or loss and expenses on the funds which remain invested in the Deferred Compensation Account. The above notwithstanding, if the Employee should die on or after his sixtieth (60) birthday and before all payments are made hereunder, the unpaid balance will continue to be paid in installments for the unexpired portion of such ten year period to his designated beneficiary (as described below) in the same manner as set forth above. (b) If the Employee's employment with the Corporation is terminated for any reason other than death and disability but before the Employee shall have reached the age of sixty (60), the Corporation shall pay the fair market value of the assets in the Deferred Compensation Account as of such date or dates as provided in paragraph (a) above or at such earlier date or dates as shall be selected by the Corporation in its sole discretion, unless the Employee terminates his employment with the Corporation without providing at least six months prior notice of such termination, in which event all rights of the Employee and his successors and assigns (including his personal representatives) to receive payments hereunder shall be forfeited. (c) If the Employee's employment with the Corporation is terminated because of death or disability before he has reached the age of sixty (60), the Corporation shall make payments to the Employee (in the event of his disability) or his designated beneficiary (in the event of hi...
Sample 1

Related to Payment of Deferred Amounts

  • 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.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • Payment Amounts The aggregate Payments to be made in any fiscal year shall not exceed an amount that is equal to the corresponding Appropriated Amount. (For example, for the Payments due on December 1, 2022 and on June 1, 2023, the aggregate maximum amount of such Payments would be determined by the Appropriated Amount determined for certification by December 1, 2021.) Furthermore, the amount of each such Payment shall not exceed the amount of Incremental Property Tax Revenues (excluding allocations of “back-fill” or “make-up” (payments from the State of Iowa for property tax credits or roll-back) actually received by the City from the Dubuque County Treasurer attributable to the taxable incremental valuation of the Property in the six (6) months immediately preceding the extant Payment due date.

  • Contribution Amounts The Sellers and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8.7. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

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