Bonus Compensation Deferral Election definition

Bonus Compensation Deferral Election means the election made by an active Participant or eligible Executive, pursuant to Section 4.2, to defer receipt of a portion of his Bonus Compensation earned by him in the calendar year to which the election relates.
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Examples of Bonus Compensation Deferral Election in a sentence

  • EXAMPLE: Assume the same facts as above, except that Participant B also has on file a Bonus Compensation Deferral Election calling for the deferral of 50 percent of his Bonus Compensation earned in 1999.

  • Such election of the form of payment shall apply to that Compensation Deferral Election and/or Bonus Compensation Deferral Election (as the case may be) and earnings thereon.

  • As soon as practicable after Bonus Compensation that is subject to a Bonus Compensation Deferral Election would, but for the provisions of this Plan, be payable to an active Participant or eligible Executive, the Company shall deposit with the Trustee, and direct the Trustee to credit to his Deferral Account, the amount of the Bonus Compensation the active Participant or eligible Executive elected to defer.

  • An Active Participant or eligible Executive described in the preceding paragraph may make a Bonus Compensation Deferral Election, prior to December 31 of any calendar year, to defer receipt of any percentage (up to 90%) of his Bonus Compensation, in whole numbers (e.g., 1%, 7%, etc.), earned in and payable with respect to the following calendar year.

  • Your initial distribution elections will be made on your first Bonus Compensation Deferral Election form.

  • Note that if Participant B had been 100% vested pursuant to the rules in Section 8; the discretionary Matching Contribution would have been deposited and credited to his Deferral Account.EXAMPLE: Assume the same facts as above, except that Participant B also has on file a Bonus Compensation Deferral Election calling for the deferral of 50 percent of his Bonus Compensation earned in 1999.

  • The maximum deferral election percentage an Eligible Employee may make for a Plan Year with respect to Base Compensation is 75% of Base Compensation.(d)Maximum Bonus Compensation Deferral Election.

  • The Administrator of the Executive Plan will provide you with a Bonus Compensation Deferral Election form.

  • As soon as practicable after Bonus Compensation that is subject to a Bonus Compensation Deferral Election would, but for the provisions of this Plan, be payable to an active Participant DB03/0502991.0020/6736492.11 MD31 or eligible Executive, the Company shall deposit with the Trustee, and direct the Trustee to credit to his Deferral Account, the amount of the Bonus Compensation the active Participant or eligible Executive elected to defer.

  • The minimum deferral election percentage an Eligible Employee may make for a Plan Year with respect to Base Compensation is 1% of Base Compensation.(b)Minimum Bonus Compensation Deferral Election.

Related to Bonus Compensation Deferral Election

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Plan Year means the calendar year.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Deferral Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the amount of the Deferrals.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Deferral Period has the meaning set forth in Section 3(h) hereof.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Basic Compensation means Salary and Benefits.

  • Deferral Agreement means the annual written agreement between the Funds and the Participant to defer Compensation under the Plan.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.