Examples of Deferred Compensation Contribution in a sentence
A qualified cash or deferred arrangement pursuant to which an Employee agrees to reduce, or to forego an increase in, his Compensation and the Company agrees to contribute the amount of the reduction or the amount foregone to the Plan as a Deferred Compensation Contribution.
Each Participant may elect, in accordance with rules established by the Plan Administrator, to reduce the Participant's Compensation by any percentage up to 15 percent, in increments of one-half percent, and to have the amount by which the Participant's Compensation is reduced contributed on the Participant's behalf by the Employer as a Deferred Compensation Contribution to the Plan.
In no event shall the Company deliver Deferred Compensation Contributions to the Trustee on behalf of a Member prior to the date the Employee performs the services with respect to which the Deferred Compensation Contribution is being made, unless such pre-funding is to accommodate bona fide administrative considerations and is not for the principal purpose of accelerating deductions.
The Deferred Compensation Contribution Amount shall be represented by Initial Stock Units allocated to the Participant's Account Balance under the Plan as of the Effective Date if the Participant is then employed by the Company or any of its affiliates.
Each such selected eligible Employee who elects to make a Deferred Compensation Contribution for the applicable Plan Year shall so specify on the Election Form and shall agree to a corresponding reduction in his or her cash Compensation.
Except as set forth on Section 3.18 of the Disclosure Schedules, Company or Company Subsidiary holds marketable and insurable fee simple title in the case of Owned Sites, or a valid and insurable leasehold or other valid interest or right in the case of Leased Sites and Other Interest Sites, free and clear of all Liens, other than Permitted Encumbrances.
Each Participant may elect, in accordance with rules established by the Plan Administrator, to reduce the Participant’s Compensation by any percentage up to 15 percent, in increments of one half percent, and to have the amount by which the Participant’s Compensation is reduced contributed on the Participant’s behalf by the Employer as a Deferred Compensation Contribution to the Plan.
The foregoing not withstanding, upon the occurrence of a Change in Control as the term is defined below, the Company shall create an irrevocable trust, the assets of which are subject to the claims of general creditors of the Company or a Subsidiary (the "Rabbi Trust"), and transfer all amounts credited to the Deferred Compensation Contribution Account of each Participant to such Rabbi Trust.
If a Participant's rate of Deferred Compensation Contribution exceeds 4%, then there shall be no Basic Non-Deferred Compensation Contributions and all Non-Deferred Compensation Contributions shall be designated as Supplementary Non-Deferred Compensation Contributions, and shall not give rise to Matching Employer Contributions.
AMOUNT The Committee has awarded $3,000,000 as the Participant's Deferred Compensation Contribution Amount under and subject to the terms of the Plan.