Deferred Compensation Benefit definition
Examples of Deferred Compensation Benefit in a sentence
The Company shall not segregate any assets that at any time may represent the Deferred Compensation Benefit.
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.
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.