Examples of New DCP in a sentence
Any such Valid Notional Rollover shall be subject to the terms of the New DCP.
The election (i) to transfer some or all of the amount of a Lump-Sum Option in a Valid Notional Rollover to the New DCP or to delay the Payment Date and/or elect a new Payment Form for a 409A Benefit must be made and become irrevocable (other than in the case of the death of the Participant) at least one year prior to the then effective Payment Date.
The election to transfer the 409A Benefit in a Valid Notional Rollover to the New DCP must be made and become irrevocable (other than in the case of the death of the Participant) at least one year prior to the then effective Payment Date.
Subject to this Section 7, a Participant who will be Retirement Eligible at his Separation from Service and whose 409A Benefit is payable in the form of a Lump-Sum Option shall be permitted to elect, prior to his Separation from Service and in the manner contemplated by Section 7.3, to transfer in a Valid Notional Rollover some or all of the amount of such Lump-Sum Option to the New DCP instead of having such amount paid to the Participant in cash on the applicable Payment Date.
Any transfer to the New DCP of some or all of the amount of a Lump-Sum Option in connection with a Valid Notional Rollover must be made in accordance with the applicable terms and provisions of the New DCP as then in effect and, once the deferred amount constituting the portion of the 409A Benefit is credited under the New DCP, shall constitute a full and complete settlement of the Company’s obligations to the Participant under the Plan with respect to the portion of the 409A Benefit so credited.
Xxxxxx Authorized Signatory Austin Ventures Ill-B, L.P. By AV Partners III, L.P., Its General Partner Its General Partner By: /s/ Xxxxxx X.
If some or all of the amount of a Lump-Sum Option is transferred to the New DCP in a Valid Notional Rollover, the payment commencement date elected by the Participant under the New DCP for the 409A Benefit for the amount so transferred must not be earlier than the fifth anniversary of the original Payment Date.
Further legal obligations regarding confidentiality remain unaffected.
The amount transferred to the New DCP in a Valid Notional Rollover shall be credited to the New DCP as of the first day of the month following the Participant’s Separation from Service, even if the Payment Date for the 409A Benefit is a later date.
In addition, no Participant shall be permitted to elect a Valid Notional Rollover to the New DCP or a delay in the Payment Date with respect to de minimis amounts payable pursuant to Section 5.4.