Deferred Retainer Account definition

Deferred Retainer Account means the bookkeeping account established under Section 3.3 on behalf of a participant, and includes any Interest Return credited thereto pursuant to Section 3.7(a).
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Deferred Retainer Account means an account maintained under this Plan by the Company for each Participant to which Retainer Contributions and, if applicable, an Initial Contribution are made by the Company.
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Examples of Deferred Retainer Account in a sentence

  • Notwithstanding anything herein to the contrary, immediately following a "Change of Control" as defined in the Company's Amended and Restated Metromail Corporation 1996 Stock Incentive Plan, each Director shall be entitled to receive a lump sum distribution equal to the entire balance of the Director's Deferred Retainer Account as of the date of such Change in Control.

  • Each Director for whom a Deferred Retainer Account is maintained under this Plan shall have the right to designate a beneficiary, and amend or revoke such designation at any time, in writing.

  • At the time a Director elects to defer all or a portion of the Director's cash retainer pursuant to paragraph 2 of this Plan, the Director shall designate a date as of which the balance of his or her Deferred Retainer Account shall be paid, which date shall not be later than the date on which such Director ceases to be a member of the Board.

  • Notwithstanding the foregoing, a Director may change the date on which his or her Deferred Retainer Account is to be paid by written direction to the Secretary of the Company prior to the beginning of the calendar year in which such payment would otherwise be made.

  • The Company shall establish on its books a Deferred Retainer Account in the name and on behalf of each Director who elects to defer his or her retainer pursuant to paragraph 2 of this Plan.

  • Notwithstanding the foregoing, if the balance of a Director's Deferred Retainer Account becomes payable prior to the last day of a calendar quarter, such account shall be credited with interest at the rate described above for the period between the last day of the immediately preceding quarter and the payment date.

  • As of the close of each calendar quarter, the Company shall credit to each Deferred Retainer Account established on its books pursuant to paragraph 3 of this Plan, an amount representing interest on the balance of such Account.

  • If a Director shall cease to be a member of the Board on account of his or her death, the value of the Director's Deferred Retainer Account shall be paid as soon as practicable thereafter to the Director's beneficiary determined under paragraph 7 below.

  • A Deferred Retainer Account established on behalf of a Director shall be credited with the amount deferred pursuant to the Director's election under this Plan as of the date on which such amounts would have been paid but for such election.