Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.
Eligible Director means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “outside director” within the meaning of Section 162(m) of the Code.
Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.
Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.
Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).
Plan Year means the calendar year.
Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.