Payment Election definition

Payment Election means an election pursuant to Section 5.1.

Payment Election means the Election Agreement (or portion thereof) completed by a Participant and filed with the Company that indicates the time of the commencement of a payment and the form of a payment of that portion of the Participant’s Compensation that is deferred pursuant to a Deferral Election under the Plan.

Payment Election means the Election Agreement (or portion thereof) completed by a Participant and filed with the Committee in accordance with Article 9 hereof, that indicates the payment commencement date for Incentive Deferrals and the form of payment for Base Deferrals (including Company Matching Contributions) and Incentive Deferrals.

Examples of Payment Election in a sentence

• Except as otherwise provided in this Section 5, a Participant’s Payment Election shall be irrevocable.

• In the event of a Participant’s Separation from Service from some but not all of the Participating Funds to which the Participant’s Plan Year Account is attributable, to the extent a Participant’s Payment Election relates to his or her Separation from Service it shall affect only the Plan Year Subaccounts attributable to the Participating Funds from which the Participant has incurred a Separation from Service.

• This benefit shall be paid commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by the Executive.

• If no election is made by you or if you make a Cash Payment Election and fail to deliver the required funds to the Company on a timely basis, then the Company may, in its sole discretion, require a Share Withhold Election.

• As part of a Deferral Election, a Participant may make a Primary Payment Election specifying the payment schedule for each subaccount that will be created as a result of the Deferral Election.

More Definitions of Payment Election

Payment Election means the instrument executed by a Participant which specifies the method of payment of compensation deferred.

Payment Election means a Participant’s election on the form provided by the Company of a Payment Commencement Date and the form in which payment shall be made in accordance with the procedures established by the Committee for such purpose.

Payment Election means a completed election made under subsection (c) pursuant to which a Participant has affirmatively elected to have his or her Cash Dividends paid to the Participant in cash outside the Plan.

Payment Election means the Election Agreement (or portion thereof) completed by a Participant and filed with the Committee that indicates the time of commencement of payment and form of payment of the Participant’s Fees that are or will be deferred pursuant to a Deferral Election under the Plan.

Payment Election means a written election made in accordance with the provisions of Section 5 to select an Elected Payment Date with regard to an award of Restricted Stock Units or Stock-Based Awards.

Payment Election means the elections made by a Participant for his Grandfathered Benefit and/or 409A Benefit, as applicable, under Section 5, Section 7 and/or Appendix B, as applicable.

Payment Election means an election as to the form and timing of distribution of a Participant’s Deferred Amounts elected in writing by the Participant at the time of his corresponding Deferral Election made by the Election Date. Unless the Committee determines otherwise, in its sole discretion, the form of distribution of an Account Value pursuant to a Payment Election may be in the form of a single sum payment or in twenty-five annual installments over a period that does not exceed 25 years.