Deferred Compensation Benefit definition

Deferred Compensation Benefit means that benefit which can be provided by annuitizing the Director's Retirement Account balance as of the Valuation Date immediately preceding the initial distribution date over a one hundred eighty (180) month period. A monthly interest factor of 1.075% shall be used to annuitize the account balance.

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Deferred Compensation Benefit means Three Hundred Thirty-Five ($335.00) Dollars per month payable for a one hundred eighty (180) month period, such period to begin at Director’s Normal Retirement Date.

Deferred Compensation Benefit means the annuitized value of the Director’s Elective Contribution Account, measured as of the Director’s Benefit Age, payable in monthly installments throughout the Payout Period and commencing on the Director’s Benefit Eligibility Date.

Examples of Deferred Compensation Benefit in a sentence

The Company shall credit interest at the rate of eight percent (8%) per annum from the date on which each amount is credited to the Deferred Compensation Benefit.
The Executive may change the time for payment of the Deferred Compensation Benefit by filing a new election with the Company, provided that any election shall not be effective until six months after it is filed with the Company.
The Company shall not segregate any assets that at any time may represent the Deferred Compensation Benefit.
During such disability, the Employee shall be considered to be in the continuous employment of the Bank for the purposes of the Deferred Compensation Benefit at Normal Retirement and shall be entitled to Disability Benefits under Section 6 of this Agreement.
The Accrued Benefit shall represent that portion of the Deferred Compensation Benefit which is required to be expensed and accrued under generally accepted accounting principles by any appropriate methodology which the Board of Directors may require in the exercise of its sole discretion.

More Definitions of Deferred Compensation Benefit

Deferred Compensation Benefit means the annuitized value (using the Interest Factor) of the Director's Elective Contribution Account, measured as of the Director's Benefit Age, payable in monthly installments throughout the Payout Period and commencing on the Director's Benefit Eligibility Date.

Deferred Compensation Benefit means the amount determined in accordance with the provisions of Article IV of this Plan.

Deferred Compensation Benefit means a lump sum benefit payment equal to the value of the Executive’s Elective Contribution Account, measured as of the Executive’s Benefit Age and payable to the Executive on his Benefit Eligibility Date.

Deferred Compensation Benefit means with respect to each Deferral Period the deferrals and any earnings thereon credited to the Participant's Deferred Compensation Account.

Deferred Compensation Benefit means the benefit of a Participant as determined under Article IV of this Plan.

Deferred Compensation Benefit means the benefit payable from the Director's Elective Contribution Account, commencing on his Benefit Eligibility Date and payable over the Payout Period.

Deferred Compensation Benefit means any and all amounts (i) currently payable, (ii) which will become payable upon the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby or (iii) which will or may become payable thereafter, to any current or former employee of Seller, any current or former shareholders of Seller, the Shareholders or any other Person under any deferred compensation plan, program, agreement or similar arrangement to which Seller is a party or is otherwise bound, including any Taxes resulting from or in connection with any such payments.