Examples of Executive Retirement Contribution in a sentence
Qualcomm Incorporated (the “Company”) previously established the Qualcomm Incorporated Voluntary Executive Retirement Contribution Plan (the “ERC”) and the Qualcomm Incorporated Executive Retirement Matching Contribution Plan (the “ERMCP”), both non-qualified deferred compensation plans for a select group of management or highly compensated employees of the Employer, and both originally effective as of December 1, 1995.
Qualcomm Incorporated (the “Company”) previously established the Qualcomm Incorporated Voluntary Executive Retirement Contribution Plan (the “ERC”) and the Qualcomm Incorporated Executive Retirement Matching Contribution Plan (the “Plan”), both non-qualified deferred compensation plans for a select group of management or highly compensated employees of the Employer, and both originally effective as of December 1, 1995.
A Participant who is eligible for an Executive Retirement Contribution as of January 1, 2010, shall be fully vested in his or her Executive Retirement Contribution Account at all times.
A Participant shall forfeit the unvested portion of his or her Executive Retirement Contribution Account upon Termination of Employment for any reason.
A Participant’s Executive Retirement Contribution Account shall be paid or commence to be paid to the Participant (or, after his or her death, the Participant’s Beneficiary) as soon as administratively practicable but no later than the end of the 90-day period (on a date determined by the Plan Administrator) following the Participant’s Termination of Employment.
Benefits payable from an Executive Retirement Contribution Account shall be distributed (or continue to be distributed, if distribution had already commenced) to the Participant’s Beneficiary, in the form and over the period of time otherwise specified under the Plan, following the Participant’s death.
The Executive Retirement Contribution Account shall be increased by any Executive Retirement Contributions credited since the prior Determination Date.
QUALCOMM Incorporated (the “Company”) previously established the QUALCOMM Incorporated Voluntary Executive Retirement Contribution Plan (the “ERC”) and the QUALCOMM Incorporated Executive Retirement Matching Contribution Plan (the “Plan”), both non-qualified deferred compensation plans for a select group of management or highly compensated employees of the Employer, and both originally effective as of December 1, 1995.
If, before being fully vested, a Participant has a Termination of Employment for any reason (either voluntarily or involuntarily) not described in the previous sentence, then the Participant will forfeit any unvested portion of the Participant’s Executive Retirement Contribution Account and such forfeited amount shall be retained by the Company.
The Executive Retirement Contributions made by a Participating Employer on behalf of a Participant shall also be credited to the Account of the Participant, but shall be allocated to a separate Executive Retirement Contribution Account.