Deferred Comp Plan definition
Examples of Deferred Comp Plan in a sentence
In the event Executive elects to terminate this Agreement by giving Notice of Termination prior to the expiration of the Term, Executive shall be entitled to such compensation as may be due and payable to him through and including such Date of Termination, but Executive shall not be entitled to any other compensation except as may be required by law or by written agreement, including this Agreement and the Deferred Comp Plan.
Employees may defer additional amounts of their compensation to the 403(b) Deferred Comp Plan or to any other TSAs of their choosing as is permissible by law.
Thereafter, investment of the Executive's Account shall comply with the investment provision of the Deferred Comp Plan.
The parties agree that the following vendors will be eligible to receive contributions from employees and the employer: 403(b) Account(s) 457(b) Account(s) Fidelity MN Deferred Comp Plan MetLife MetLife ISD 196 contribution and matching teacher contribution will be made to the company of the teacher's choice.
The balance in the Executive’s Retirement Account shall be invested as directed by the Executive in accordance with the terms of the Deferred Comp Plan.
The Company will cause such trust at all times to possess funds at least equal to the sum of all Accounts under the Deferred Comp Plan.
The Executive's Retirement Account shall be distributed to him at the time and in the form elected by the Executive pursuant to the terms of the Deferred Comp Plan.
In settlement of the amounts accrued and vested on or before December 31, 2008, for the benefit of the Executive in the Prior Plan the Company shall credit the contribution to the Deferred Comp Plan described in Section 3(a) below.
In consideration of the Executive’s relinquishment of future benefits under the Prior Plan and of his continued services to the Company, the Company shall credit the contributions to the Deferred Comp Plan described in Section 3(b) below.
Company Contributions made on the Executive's behalf hereunder shall be credited to the Executive's Retirement Account under the Deferred Comp Plan (the “Retirement Account”).