Participant Elective Deferrals definition

Participant Elective Deferrals means “Elective Deferrals” as such term is defined in the ESOP.
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Participant Elective Deferrals means “Elective Deferrals” as such term is defined in the ESOP. (kk) “Person” means any individual, corporation, partnership, joint venture, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, Governmental Authority or any other entity. (ll) “Preferred Stock”, as applied to the Capital Stock of any Person, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the payment of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of Capital Stock of any other class of such Person. (mm) “Prior Period ESOP Issuance” means any of the following: (i) the Company issues shares of Common Stock to the ESOP for Company contributions to the ESOP in the form of Company match and profit sharing contributions for any fiscal six-month period of the Company ended prior to the date hereof (or as of the end of any period that includes any portion of any fiscal six-month period of the Company ended prior to the date hereof) or (ii) the ESOP purchases shares of Common Stock from the Company using rollovers, transfers or Participant Elective Deferrals for any fiscal six-month period of the Company ended prior to the date hereof (or as of the end of any period that includes any portion of any fiscal six-month period of the Company ended prior to the date hereof). (nn) “Prospectus” shall mean the prospectus included in a Shelf Registration Statement, and any such prospectus as amended or supplemented by any prospectus supplement and by all other amendments and supplements to a prospectus, including any preliminary prospectus and post-effective amendments, in each case including all materials incorporated by reference therein. (oo) “Prorata CTO Funding” has the meaning ascribed to such term in the Refinancing Support Agreement. (pp) “Qualified Incentive Plan” shall mean a stock incentive plan for management and key employees of the Company approved by the Board after the Closing Date and for which the resolution of the Board approving such stock incentive plan provides that it will not trigger any antidilution adjustments under the terms of this Agreement.
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Participant Elective Deferrals means those amounts that are subject to a compensation deferral agreement which a Participant has a Participating Company contribute to the Plan pursuant to Article IV, Section (1).
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Examples of Participant Elective Deferrals in a sentence

  • Participant Elective Deferrals shall be considered to be Employer contributions.

  • The Employer shall not match Participant Elective Deferrals in excess of $ or in excess of % of the Participant's Compensation.

  • Any adjustment in Participant Elective Deferrals made pursuant to this subsection shall, to the extent possible, reduce the deferral of each affected Participant by an identical percentage of Annual Compensation.

  • The Plan shall distribute to the Participant Elective Deferrals, and gains attributable to those Elective Deferrals, to the extent that the distribution would reduce the excess amounts in the Participant’s Account.

  • The Employer shall not match Participant Elective Deferrals as provided above in excess of $ or in excess of % of the Participant's Compensation.

  • For purposes of determining the largest allocation to the Account of a Key Employee Participant, Elective Deferrals shall be included.

  • If elected by the Participant, Elective Deferrals allocated to a Highly Compensated Employee as Excess Contributions will be recharacterized, in which event the Participant will treat Excess Contributions allocated to him or her as an amount distributed to the Participant and then contributed by the Participant to the Plan.

  • The Employer shall not match Participant Elective Deferrals as provided above in excess of $___ or in excess of ___% of the Participant's Compensation.

  • The Employer shall not match Participant Elective Deferrals as provided above in excess of $ or in excess of % of the Participant's Compensation or if applicable, Voluntary Contributions in excess of $ or in excess of % of the Participant's Compensation.

  • In addition to the Participant Elective Deferrals which shall be credited to a Participant’s Deferred Compensation Account, the Company shall also credit (or reduce) a Participant’s Deferred Compensation Account by an amount equal to the amount that would have been earned (or lost) if the amounts deferred under this Plan had been invested in hypothetical investments designated by the Participant from time to time, based on a list of hypothetical investments specified by the Company.


More Definitions of Participant Elective Deferrals

Participant Elective Deferrals. If Participant Elective Deferrals are elected in Adoption Agreement #001, each Participant, in such Participant's discretion, may elect to reduce the Compensation, in the percentage or amounts designated in the Adoption Agreement, for contribution to this Plan at such time and in accordance with such procedures as are established by the Committee from time to time. A Participant may change such Participant's deferral election prospectively, but not retroactively, by giving appropriate to the Committee within the time limits prescribed by the Committee. A Participant may elect to make, modify, or cease Elective Deferrals during the elective periods specified in the Adoption Agreement, which must provide for such election periods at least annually. Notwithstanding any longer service required for eligibility to participate in this Plan, an Employee will be eligible to make Elective Deferrals under this Section on the first Entry Date after the Employee's completion of no more than one Year of Service with the Employer or such shorter period as prescribed in the Adoption Agreement. Notwithstanding the foregoing to the contrary, if the Employer elects in the Adoption Agreement #001 to implement "Automatic Elections" (as described herein) with respect to first-time Participants (including returning Participants) and/or continuing Participants, and such Participant fails to affirmatively elect to receive cash or have a specified amount contributed to the Plan, such Participant's Compensation shall be automatically reduced by the fixed dollar amount or percentage of the Automatic Election indicated in the Adoption Agreement. The time at which the Automatic Election shall be effective shall be [1] with respect to a first-time Participants, a date following the lapse of a reasonable period of time after the Employer has provided such individual with a notice described below; or [2] with respect to a continuing Participant, as of the initial effective date of the implementation of the Automatic Election and the first day of each Plan Year thereafter. The Employer shall provide to first-time Participants at the time of hire or in advance of the effective date of the Automatic Election a notice explaining their rights not to make a contribution or to alter the amount of those contributions, an explanation of the procedure for exercising that right and the timing for implementation of any such election, and the affect of not revoking such a Automatic Election. Thereafte...
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Related to Participant Elective Deferrals

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

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

  • 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

  • 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.

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

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

  • Plan Year means the calendar year.

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

  • 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.

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

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

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

  • 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.

  • 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).

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Highly Compensated Employee means an Employee who:

  • Nonhighly Compensated Employee means an Eligible Employee who is not a Highly Compensated Employee and who is not a family member treated as a Highly Compensated Employee.

  • 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.

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

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

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

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

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Top Heavy Plan Year means a Plan Year during which the Plan is a Top Heavy Plan.