Initial Distribution Election definition

Initial Distribution Election means upon an Eligible Executive’s first election to defer Compensation under the Plan made pursuant to an irrevocable Deferral Form and in accordance with the time requirements set forth in Section 5.2, the Participant may elect the time or form of payment for the portion of his or her Account Balance attributable to Elective Contributions (and earnings thereon).
Sample 1Sample 2Sample 3
Initial Distribution Election means an initial distribution election regarding the form of payment of a Particiapnt’s Restoration Benefit pursuant to Section 4.5(a).
Sample 1Sample 2
Initial Distribution Election means an election to set the time and form of payment of a Participant’s accrued benefit pursuant to Section 7.4.
Sample 1

Examples of Initial Distribution Election in a sentence

  • If an individual becomes a Newly Hired Eligible Employee after the beginning of a Plan Year, the Plan Administrator has the sole discretion to determine whether such individual may file an Initial Distribution Election for the Restoration Benefit.

  • In the event of an Initial Distribution Election under this Section 4.5(a), such election shall apply to the Restoration Benefit earned for services performed on and after the first day of the month following or coincident with the 31st day after his Date of Hire.

  • At the time of making his Initial Distribution Election, a Participant may elect to receive up to three distributions of the contributions in his Post-2004 Deferral Account, without earnings, while he is actively employed.

  • If a Participant fails to make an Initial Distribution Election by such deadline, his Initial Distribution Election shall be determined by the applicable default Distribution Election described in Section 12(b) below.

  • The distribution date under the Subsequent Distribution Election must be at least five years after the date the first payment would have been made to the Participant under the Initial Distribution Election under Section 12(a) or (b), whichever is applicable.

  • A Participant may make an Initial Distribution Election by the later of the date he first makes an election to participate in the Plan or December 31, 2008.

  • In order to elect to change the time or form of distribution of the Restoration Benefit, a Participant shall file an Initial Distribution Election or Subsequent Distribution Election, written or electronic, in accordance with procedures established by the Plan Administrator.

  • The distribution date under the Subsequent Distribution Election must be at least five years after the date such payment would have been made to the Participant under the Initial Distribution Election under Section 12(a).

  • The form of distribution—lump sum or installments—must be specified at the time the Election Form is completed if an Initial Distribution Election Form is not already on file.

  • Its preamble proclaims the equality of men and women before the law and the adherence of the people to the ideals, principles, rights and duties established in the Charter of the United Nations, the Universal Declaration of Human Rights, and the African Charter of Human and People's Rights.

Related to Initial Distribution Election

  • Final Scheduled Distribution Date means, with respect to the Class A-1 Notes, the Distribution Date in [_______]; with respect to the Class A-2 Notes, the Distribution Date in [_______]; with respect to the Class A-3 Notes, the Distribution Date in [_______]; with respect to the Class B Notes, the Distribution Date in [_______]; with respect to the Class C Certificates, the Distribution Date in [_______]; and with respect to the Class D Certificates, the Distribution Date in [_______].

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Scheduled Distribution means, with respect to any Collateral Loan, for each Due Date, the scheduled payment of principal and/or interest and/or fees due on such Due Date with respect to such Collateral Loan, determined in accordance with the assumptions specified in Section 1.3.