Examples of DCP II in a sentence
Effective no later than the Effective Time, Newco Group Employees shall cease to be eligible to actively participate in the Vornado Realty Trust Nonqualified Deferred Compensation Plan (the “DCP”) and/or the Vornado Realty Trust Nonqualified Deferred Compensation Plan II (the “DCP II”) and no further deferrals shall be made to the DCP or the DCP II on behalf of Newco Group Employees with respect to compensation or earnings for services on or for the year in which the Effective Time occurs.
Each Newco Group Employee who immediately prior to the Effective Time was a participant in, or entitled to future benefits under, the DCP, the DCP II and/or the Vornado Realty Trust Nonqualified Deferred Compensation Plan (together, the “Vornado Nonqualified Deferred Compensation Plans”) shall continue to have such rights, privileges and obligations under the Vornado Nonqualified Deferred Compensation Plans as are provided thereunder.
Any officer who is eligible to participate in the Company’s deferred compensation plan (the “DCP II”) may elect to defer part or all of such award in accordance with the deferral election rules of the DCP II.
From and after the Effective Time, (i) Spinco shall assume the Liabilities for all benefits under the Burgundy DCP II with respect to Spinco Employees who were participants in the Burgundy DCP II as of immediately prior to the Effective Time, (ii) Spinco shall pay all such benefits under the Spinco DCP II in accordance with its terms and (iii) Spinco shall indemnify Burgundy for all such Liabilities described in the immediately preceding clauses (i) and (ii).
Deferred Compensation Plan II (the “DCP II”), and subject to the requirement that the Participant must be a DCP II participant or have an account balance in pay status at the time his or her Unit Award is payable from this Plan to be deferred into the DCP II in accordance with the Participant’s deferral election.
Any amounts deferred by a Participant from his or her Unit Award into the DCP II shall initially be governed by the Participant’s measurement fund elections then in effect at the time the deferred amounts payable from this Plan are credited to the Participant’s account under the DCP II.
Notwithstanding anything to the contrary contained in this Section 6.5(c), following the one-year anniversary of the Effective Time, Spinco shall have no obligation to provide for additional deferrals of compensation pursuant to the Spinco DCP II.
Notwithstanding any provision of this Agreement to the contrary, within thirty (30) days prior to the Closing Date, the Company may terminate the MGM MIRAGE Deferred Compensation Plan II (“DCP II”) and MGM MIRAGE Supplemental Executive Retirement Plan II (“SERP II”), with respect to all of the Company’s participating Employees and, pursuant to such termination, pay all vested account balances in DCP II and SERP II attributable to the Company’s participating Employees.
Each UE Group Employee who immediately prior to the Effective Time was a participant in, or entitled to future benefits under, the DCP II and/or the Vornado Realty Trust Nonqualified Deferred Compensation Plan (together, the “VNO Nonqualified Deferred Compensation Plans”) shall continue to have such rights, privileges and obligations under the VNO Nonqualified Deferred Compensation Plans as are provided thereunder.
Under such circumstances, even a single vacancy can have a major impact on service delivery.