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.
Sample 1Sample 2
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.
Sample 1
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.
Sample 1

Examples of Election of Deferral in a sentence

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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • An Election of Deferral, unless cancelled or terminated, shall continue through the date on which the Eligible Employee’s employment terminates for any reason including death, Retirement or Disability.

  • Notwithstanding Section 3.1(a) above, any Election of Deferral related to a bonus which constitutes performance-based compensation (as defined in Code Section 409A and the regulations issued thereunder), based on services performed over a period of at least 12 months, may, if permitted by the Plan Administrator, be made no later than six months before the end of such performance period.

  • Accordingly, an Election of Deferral will, for purposes of the Plan, not be considered as having been made until such date, at which time the Election of Deferral shall become irrevocable for that forthcoming Calendar Year.

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 the annual written agreement between the Funds and the Participant to defer Compensation under the Plan.

  • 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(h) 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 an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • 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).

  • Primary election means any regular primary election held under the election

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]