Special Deferred Compensation Sample Clauses

Special Deferred Compensation. In addition to participation in any Company sponsored deferred compensation plan under Section 13.1 of this letter agreement, you may participate in a special deferred compensation plan designed for you providing for a one-time deferral of $100,000, which amount shall be invested in the Common Stock on the Start Date and deferred during the term of this letter agreement.
Sample 1
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Special Deferred Compensation. In addition to any salary or other compensation which may be payable to you from time to time, the Company will further compensate you by payment, in a one-time lump-sum amount ("Special Deferred Compensation") of One Hundred Forty Thousand Dollars ($140,000) as of April 1, 2004.
Sample 1
Special Deferred Compensation. In addition to the other compensation provided for in this Agreement and in recognition of Employee's forfeiture of certain stock option and restricted stock related compensation from her former employer, Employer agrees to provide Employee with deferred compensation under the following terms and conditions. Employee shall be awarded the equivalent of 77,090 theoretical shares ("Phantom Units") of TXU Corp. common stock ("Stock"), each such Phantom Unit to be equivalent to one (1) share of Stock. The Phantom Units shall be segregated and maintained in four (4) separate record keeping accounts (the "Accounts"), with the first such Account initially holding 25,140 Phantom Units ("First Account"), the second such Account initially holding 24,625 Phantom Units ("Second Account"), the third such Account initially holding 10,175 Phantom Units ("Third Account"), and the fourth such Account initially holding 17,150 Phantom Units ("Fourth Account"). If and when dividends are paid on the Stock, each Account shall be credited with additional Phantom Units in an amount equal to the value of the number of full and fractional shares of Stock which could have been purchased with the amount of the dividend that would have been paid if Stock were held in the Account. In the event of any reorganization, recapitalization, reclassification, stock split, reverse stock split, combination, share exchange, or other similar event involving the Stock, an appropriate adjustment shall be made in the Accounts so that each Phantom Unit is treated like, and valued equivalently to, one (1) share of Stock. The Accounts (including the initial Phantom Units and any additional Phantom Units attributable to Stock dividends) shall be liquidated as of, and paid in cash to Employee as soon as reasonably practical after, the following dates (each a "Liquidation Date"): Account Liquidation Date ------- ---------------- First Account February 1, 2001 Second Account February 1, 2002 Third Account February 1, 2003 Fourth Account March 1, 2004 The value to be paid upon the liquidation of each Account shall be determined by multiplying the number of Phantom Units that exist in the applicable Account on the applicable Liquidation Date by the average closing price of the Stock for the applicable Liquidation Date and the four (4) business days proceeding such Liquidation Date. If any Liquidation Date is not a normal business day, the applicable Liquidation Date shall be deemed to be the next normal busine...
Sample 1
Special Deferred Compensation. In addition to the other compensation provided for in this Agreement and in recognition of Employee’s forfeiture of compensation from his former employer by virtue of his employment with Employer hereunder, Employer agrees to provide Employee with deferred compensation under the following terms and conditions. Employee shall be awarded the equivalent of a theoretical number of full and fractional shares of the common stock (“Stock”) of Texas Utilities Company, (“Phantom Units”) determined by dividing $300,000 by the market value per share of the Stock on the effective date of this Agreement. The Phantom Units shall be segregated and maintained in four (4) separate and equal theoretical record keeping accounts (the “Accounts”). If and when dividends are paid on the Stock, each Account shall be credited with additional Phantom Units in an amount equal to the value of the number of full and fractional shares of Stock which could have been purchased with the amount of the dividend that would have been paid if Stock were held in the Account. For purposes of crediting this theoretical dividend to the Accounts, each Phantom Unit shall be equivalent to one share of Stock. In the event of any reorganization, recapitalization, reclassification, stock split, reverse stock split, combination, share exchange, or other similar event involving the Stock, an appropriate adjustment shall be made in the Accounts. Beginning in 1999 and continuing thereafter for the following three (3) succeeding years, one of the Accounts shall effectively be liquidated in each such year and Employer shall pay Employee cash in an amount equal to the value of the liquidated Account, such that the value of one Account is paid in each of the years 1999, 2000, 2001 and 2002. The cash value to be paid upon the liquidation of each Investment Account shall be determined by multiplying the number of Phantom Units that exist in the applicable Account at June 30th of the applicable year by the average market value used to value incentive compensation payments for participants in the Employer’s Deferred and Incentive Compensation Plan (“DICP”) for payments made from such plan in such year. Each such cash payment shall be made at the time that incentive awards are paid to participants in the DICP during such year. In the event of Employee’s resignation or termination for Cause (except for Employee’s death or disability), Employee shall forfeit any right to receive any payments under this Section which h...
Sample 1

Related to Special Deferred Compensation

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Payment of Deferred Compensation Any compensation that has been earned by the Executive but is unpaid as of the Termination Date, including any compensation that has been earned but deferred pursuant to the Company's Deferred Compensation Plan or otherwise, shall be paid in full to the Executive on the Termination Date.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Borrower has no pension, profit sharing or other compensatory or similar plan (herein called a “Plan”) providing for a program of deferred compensation for any employee or officer. No fact or situation, including but not limited to, any “Reportable Event,” as that term is defined in Section 4043 of the Employee Retirement Income Security Act of 1974 as the same may be amended from time to time (“Pension Reform Act”), exists or will exist in connection with any Plan of Borrower which might constitute grounds for termination of any Plan by the Pension Benefit Guaranty Corporation or cause the appointment by the appropriate United States District Court of a Trustee to administer any such Plan. No “Prohibited Transaction” within the meaning of Section 406 of the Pension Reform Act exists or will exist upon the execution and delivery of the Agreement or the performance by the parties hereto of their respective duties and obligations hereunder. Borrower will (1) at all times make prompt payment of contributions required to meet the minimum funding standards set forth in Sections 302 through 305 of the Pension Reform Act with respect to each of its Plans; (2) promptly, after the filing thereof, furnish to Agent copies of each annual report required to be filed pursuant to Section 103 of the Pension Reform Act in connection with each Plan for each Plan Year, including any certified financial statements or actuarial statements required pursuant to said Section 103; (3) notify Agent immediately of any fact, including, but not limited to, any Reportable Event arising in connection with any Plan which might constitute grounds for termination thereof by the Pension Benefit Guaranty Corporation or for the appointment by the appropriate United States District Court of a Trustee to administer the Plan; and (4) notify Agent of any “Prohibited Transaction” as that term is defined in Section 406 of the Pension Reform Act. Borrower will not (a) engage in any Prohibited Transaction or (b) terminate any such Plan in a manner which could result in the imposition of a Lien on the Property of Borrower pursuant to Section 4068 of the Pension Reform Act.

  • Nonqualified Deferred Compensation (a) It is intended that any payment or benefit which is provided pursuant to or in connection with this Agreement which is considered to be deferred compensation subject to Section 409A of the Code shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance.

  • Nonqualified Deferred Compensation Plans Effective on or before the Distribution Date, Columbia shall adopt, establish and maintain nonqualified deferred compensation plans for the benefit of employees of the Columbia Parties (the “Columbia Deferred Compensation Plans”) and shall establish one or more grantor trusts to be a source of providing benefits thereunder (the “Columbia Rabbi Trusts”) that in each case shall be substantially similar to the NiSource Deferred Compensation Plans and the grantor trusts maintained by NiSource with respect to the NiSource Deferred Compensation Plans (the “NiSource Rabbi Trusts”). As of the Distribution Date, the Columbia Parties shall assume and thereafter be solely responsible for all existing and future liabilities relating to Business Employees’ (and Deceased Business Employee survivors’ and beneficiaries’) (a) benefits accrued under the NiSource Deferred Compensation Plans prior to the Distribution Date and (b) benefits that accrue under the Columbia Deferred Compensation Plans on and after the Distribution Date. All beneficiary designations made by Business Employees and by survivors and beneficiaries of Deceased Business Employees under the NiSource Deferred Compensation Plans shall, to the extent applicable, be transferred to, and be in full force and effect under, the Columbia Deferred Compensation Plans until such beneficiary designations are replaced or revoked by the Business Employee (or the survivor or beneficiary of the Deceased Business Employee) who made the beneficiary designation. Following the Distribution Date, the NiSource Parties shall have no liability or obligation with respect to the benefits accrued by such Business Employees or by such survivors or beneficiaries of Deceased Business Employees under any of the NiSource Deferred Compensation Plans or with respect to any benefits accrued under the Columbia Deferred Compensation Plans. As soon as administratively practicable after the Distribution Date, NiSource shall cause the NiSource Rabbi Trusts to transfer to the Columbia Rabbi Trusts cash, life insurance policies or other assets having an aggregate fair market value equal to (i) the aggregate fair market value of all assets held in the NiSource Rabbi Trusts as of the Distribution Date multiplied by (ii) a percentage, the numerator of which shall be the lump sum present value of the benefits assumed by the Columbia Deferred Compensation Plans pursuant to this Section 3.03 and the denominator of which shall be the lump sum present value of all benefits accrued under the NiSource Deferred Compensation Plans immediately prior to the Distribution Date.

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Compensation Benefits In consideration of Executive's services hereunder, the Company shall provide Executive the following:

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