Election of Deferral definition

Election of Deferral means a written notice filed by an Eligible Participant with the Committee pursuant to which the Participant elects to defer receipt of Compensation under the Plan. The Election of Deferral shall be part of the Agreement.
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Election of Deferral means a written notice filed by the ---------------------- Employee with the chief financial officer of the Bank in substantially the form attached hereto specifying the amount of Compensation to be deferred.
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Election of Deferral. A written notice filed by the Employee with the Secretary/Treasurer of the Corporation in substantially the form attached hereto as Exhibit A, specifying the amount of Compensation and/or bonus to be deferred and the form and timing of the subsequent payment.
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Examples of Election of Deferral in a sentence

  • In addition, a new Election of Deferral must be submitted to the Employer as a condition of participation in the Plan.

  • The Employee may elect an Annual Deferral Sum hereunder by filing an Election of Deferral.

  • I further understand that I may file an amended Election of Deferral at least 30 days prior to the beginning of a Fiscal Year of the Bank, effective on the first day of such Fiscal Year.

  • Any such Election of Deferral shall be made before the Employee has earned the right to the compensation or bonus deferred and shall continue until changed in writing by the Employee.

  • Nonqualified Deferred Compensation Trust (the "Trust") the Employee's Deferral Amount, as soon as practical following the date that the Deferral Amount otherwise would have been paid to the Employee but for the Employee's Election of Deferral.

  • Such initial Election of Deferral, if any, shall be effective commencing with the first day of the first month after it is filed.

  • The Participant may elect a Participant Annual Deferral hereunder by filing an Election of Deferral.

  • Any change in the Employee's Election of Deferral shall be effective with the first payment of compensation or bonus that the Employee earns and that otherwise would be paid following delivery of notice of a change in the Employee's Election of Deferral.

  • Any new Election of Deferral, to be effective, must be filed at least thirty (30) days prior to the beginning of the Fiscal Year in which deferral is sought.

  • The Employee may elect to defer compensation or bonus hereunder by filing a written notice to that effect with the Employer, referred to as an Election of Deferral.

Related to Election of Deferral

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Deferral Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the amount of the Deferrals.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Deferral Agreement means an irrevocable agreement entered into between a Nonemployee Director and the Company to authorize the Company to reduce the amount of the Nonemployee Director’s Annual Retainer and credit the amount of such reduction to the Plan consistent with the requirements of Section 409A of the Code. A Deferral Agreement shall contain such provisions, consistent with the provisions of the Plan, as may be established from time to time by the Company or the Board, including without limitation:

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Payment Election means an election pursuant to Section 5.1.

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Optional Deferral Provision means, as to any Qualifying Capital Securities, a provision in the terms thereof or of the related transaction agreements to the effect that:

  • Deferral Period has the meaning set forth in Section 3(i) hereof.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.