DCP Option definition

DCP Option means the actuarial equivalent of a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable (or the applicable portion thereof) that the Participant elects, in accordance with the terms of the Plan, to convert into a cash lump-sum amount to be credited in a Valid Notional Rollover to the DCP. A Participant who elects the DCP Option with respect to some or all of his Grandfathered Benefit shall be subject to the applicable terms and provisions of the Prior DCP and shall have the amount of the Valid Notional Rollover credited to the Prior DCP. A Participant who elects or contingently elects the DCP Option with respect to some or all of his 409A Benefit shall be subject to the applicable terms and provisions of the New DCP, shall be required to make his payment elections under the New DCP at the time the DCP Option is elected and shall have the amount of the Valid Notional Rollover credited to the New DCP.
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Examples of DCP Option in a sentence

  • A Participant who elects prior to, or in connection with, his Separation from Service to receive his Grandfathered Benefit in the Lump-Sum Option shall be permitted, in accordance with the deferral rules of the Prior Plan, to elect prior to, or in connection with, his Separation from Service the DCP Option for some or all of the amount otherwise payable in the Lump-Sum Option.

  • The effective date of the Valid Notional Rollover made in connection with the DCP Option will be the date that the portion of the Lump-Sum Option subject to the Valid Notional Rollover would otherwise have been paid to the Participant under Section 5.2(c) (determined, solely for this purpose, without regard to the Payment Delay Period).

  • If the Payment Form for a Participant’s Grandfathered Benefit is other than the Lump-Sum Option or the DCP Option, the payment of the Participant’s Grandfathered Benefit shall commence on the Participant’s applicable Normal Payment Date, unless the Participant has specified an Elected Payment Date.

  • Except as permitted by Section 7, a Participant who elects to have his 409A Benefit paid in the form of a Ten Year Certain and Life Option, Guaranteed Death Benefit Option, Lump-Sum Option or DCP Option shall not be permitted to change the Payment Form so elected.

  • The centre must specify the SUHAS as the scheme they wish to register on to as well as the SUHAS listing category.

  • A Participant may only elect one payment form for his 409A Benefit, unless he elects the DCP Option.

  • If the Payment Form for a Participant’s Grandfathered Benefit is other than the Lump-Sum Option or the DCP Option, the payment of the Participant’s Grandfathered Benefit shall commence on the Participant’s applicable Default Payment Date, unless the Participant has specified an Elected Payment Date.

  • The effective date of the Valid Notional Rollover made in connection with the DCP Option will be the first day of the month following the Participant’s Separation from Service, even if the portion of the Lump-Sum Option subject to the Valid Notional Rollover would otherwise have been paid to the Participant at a later date.

  • Subject to this Section 7, a Participant who will be Retirement Eligible at his Separation from Service and who has previously elected to receive all or a portion of his 409A Benefit in the DCP Option shall be permitted to redefer payment, in the manner contemplated by Section 7.2, of the amount subject to the DCP Option, subject to the applicable payment terms of the New DCP.

  • Subject to this Section 7, a Participant who will be Retirement Eligible at his Separation from Service and who has previously elected to receive some or all of his 409A Benefit in the DCP Option shall be permitted to defer payment, in the manner contemplated by Section 7.3, of the amount subject to the DCP Option, subject to the applicable payment terms of the DCP.

Related to DCP Option

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Stock Index Option means an exchange traded option entitling the holder, upon timely exercise, to receive an amount of cash determined by reference to the difference between the exercise price and the value of the index on the date of exercise.

  • Company Stock Option means any option to purchase one or more shares of the Company’s Common Stock granted under any of the Company Stock Plans.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Director Option means an Option granted pursuant to Section 6.

  • Employee Option means an Option granted pursuant to Section 5.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Rollover Option has the meaning set forth in Section 2.4(a).

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Parent Stock Option means any option to purchase Parent Common Stock granted under any Parent Stock Plan.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.

  • Company Stock Option Plan means each share option plan, share award plan, share appreciation right plan, phantom share plan, share option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any share, option, warrant or other right to purchase or acquire shares of the Company or right to payment based on the value of Company shares has been granted or otherwise issued.

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Unvested Company Option means any Company Option that is not a Vested Company Option.

  • Optioned Stock means the Common Stock subject to an Option.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.