Deferral Account definition

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

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Deferral Account means (i) the sum of all of a Participant's Annual Deferral Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Deferral Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his or her Deferral Account.

Deferral Account means (i) the sum of all of a Participant’s Annual Deferral Amounts, plus (ii) amounts credited or debited to the Participant’s Deferral Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his or her Deferral Account.

Examples of Deferral Account in a sentence

• If the Executive experiences a Disability prior to Normal Retirement Age, the Employer shall pay the Executive the Deferral Account balance calculated as of the date of Disability, in lieu of any other benefit hereunder.

• The Deferral Account is solely a device for measuring amounts to be paid under this Agreement and is not a trust fund of any kind.

• In the event of a complete termination under subsection (a) or (b) below, the Employer shall pay the Executive the Deferral Account balance.

• In any event, the maximum amount which may be paid out as a Hardship Distribution is the Deferral Account balance as of the day the Executive petitioned the Board to receive a Hardship Distribution.

• In the event the Executive dies while the Employer does not own a life insurance policy on the Executive’s life, the Employer shall pay the Beneficiary the Deferral Account balance in lieu of any other benefit hereunder.

More Definitions of Deferral Account

Deferral Account means the account maintained to reflect the Trustee's Compensation Deferrals made pursuant to Section 3 hereof and any other credits or debits thereto.

Deferral Account means the Bank’s accounting of the accumulated Deferrals plus accrued interest.

Deferral Account means the bookkeeping account maintained by the Committee for each Participant that is credited with amounts equal to (1) the portion of the Participant’s Compensation that he or she elects to defer, and (2) earnings and losses pursuant to Section 4.1.

Deferral Account means an Account maintained for each Participant that is credited with Participant deferrals pursuant to Section 4.1.

Deferral Account means the Employer’s accounting of the accumulated Contributions plus accrued interest.

Deferral Account means the account maintained to reflect an Eligible Participant's Deferrals made pursuant to Section 3 herein and any other credits or debits thereto.

Deferral Account means the account or subaccount established and maintained by the Company for specified deferrals by a Participant, as described in Section 6. Deferral Accounts will be maintained solely as bookkeeping entries by the Company to evidence unfunded obligations of the Company.