Participant Elective Deferral definition

Participant Elective Deferral means an “Elective Deferral” as such term is defined in the ESOP.
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Participant Elective Deferral means an “Elective Deferral” as such term is defined in the ESOP. (hh) “Person” means an individual, partnership, corporation, unincorporated organization, joint stock company, limited liability company, trust, joint venture or other similar entity, or a governmental agency or political subdivision thereof. (ii) “Qualified Public Offering” means a bona fide public offering of Shares that yields gross proceeds of $30,000,000. (jj) “Reallocation Process” has the meaning set forth in Section 2.2(b). (kk) “Reallotment Notice” has the meaning set forth in Section 2.2(b).
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Examples of Participant Elective Deferral in a sentence

  • The allocation thereof shall be unrelated to any Participant Elective Deferral contributions made hereunder.

  • The Employer will establish and maintain (or cause to be established and maintained) for each Participant individual accounts adequate to disclose his interest in the Trust Fund, including such of the following separate accounts as shall apply to the Participant: Elective Deferral Account, Employer Matching Account, Qualified Nonelective Account, Qualified Matching Account, Employer Profit Sharing Account, Participant Contribution Account, Deductible Employee Contribution Account, and Rollover Account.

  • The Plan Administrator shall direct the Trustee to distribute to a Participant from his Participant Elective Deferral Account an amount equal to the Participant’s Excess Deferral plus income, if any, allocable thereto.

  • Clerk Unger wanted to remind Council that although they make the estimated payment, if they don’t hit their profit for the year, we will end up giving some of it back to Charter Steel.

  • Notwithstanding the foregoing, any Annual Deferral Amount invested as Stock under the Plan and allocated to a Participant Elective Deferral Account will be deemed invested in Stock and the Account Balance of such Participant shall also be deemed to hold any dividends payable with respect to any Stock deemed held in the account.

  • The term Participant's Account means the sum of the following sub-accounts held on behalf of each Participant: Elective Deferral Contributions, if any, and earnings thereon.

  • Participant Elective Deferrals made pursuant to Article IV, Section (1) under a compensation deferral agreement, to the extent not returned and refunded in accordance with Article IV, Section (2), shall be allocated to the Participant Elective Deferral Account of the depositing Participant whose compensation deferral agreement engendered such contributions.

  • For the purpose of distributing the amount credited to a Participant's Account, the Trustee shall use a valuation of the Participant's Account as of the Valuation Date next preceding the date of distribution, which in no event shall be earlier than the Valuation Date following the cessation of Participant Elective Deferral Contributions to such Participant's Account (the "Distribution Valuation Date").

  • A Participant may modify his or her salary deferral election with respect to Participant Elective Deferral Contributions once each calendar quarter, by executing and delivering a new salary deferral election to the Company, on such form and with such advance notice as the Committee shall specify.

  • The shares of stock deemed to be credited to a Participant Elective Deferral Account shall equal the quotient of (i) the dollar value of the Annual Deferral Amount for the given Plan Year and (ii) the Fair Market Value of the Stock as of the business day of the deferral crediting date.

Related to Participant Elective Deferral

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • 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."]

  • 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.

  • 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

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Plan Year means the calendar year.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • 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 Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Highly Compensated Participant means any Highly Compensated Employee who is eligible to participate in the Plan.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • 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).

  • Participant Contributions means contributions made by the Participant pursuant to an executed Pay Reduction Agreement subject to the Participant Contribution limits contained in Article III.

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • 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.

  • 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.

  • Participant ID means each unique identifier assigned to a Participant other than a DMA Customer by BSEF for access to the SEF operated by BSEF.

  • Eligible employer means an employer that:

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Highly Compensated Employee means any Employee who: