Plan Election definition

Plan Election means the election to defer compensation made by a participant pursuant to Section 4.

Plan Election means the following: (a) for Employee Participants, an election to defer a part of such Participant’s Regular Base Salary, such Participant’s Bonus Compensation, or such Participant’s Multi-Year Incentive Compensation, all pursuant to Section 3.2, and (b) for Outside Director Participants, an election to defer Director Fees pursuant to Section 3.2. A Participant’s Plan Election shall also include an election by the Participant specifying the calendar year in which payments shall commence, the method of payment with respect to the payout of all future benefits attributable to deferrals for the Plan Year and whether the Participant elects to receive a lump sum distribution upon death or Disability prior to the calendar year in which payments would otherwise commence. A Participant may delay payment or change the form of payment by filing a new Plan Election, but only to the extent permitted by Section 6.4 of the Plan.

Plan Election means the election to be made by each holder of an Allowed Secured Debt Claim on such holder’s Ballot for the treatment of such holder’s Allowed Secured Debt Claims, as set forth in Section 3.2(d) hereof.

Examples of Plan Election in a sentence

• Dividend Reinvestment Plan Election: If a stockholder has not opted in to the Dividend Reinvestment Plan, no action is necessary.

• Each eligible Trustee shall become a Participant in the Plan of each Fund for which he or she is eligible as of the date he or she meets the above requirement and completes a Deferred Compensation Plan Election as described in Section 4.03.

• If the Appropriate Committee determines that such Plan Election shall relate to more than one Elective Plan Year, then the additional Plan Election to be filed by such Participant shall constitute an election to defer the Required Deferral Amount of his current compensation for each of such Elective Plan Years.

• The election to defer compensation pursuant to a Plan Election or Additional Plan Election, once made for the first, second and third Fiscal Years of a Required Deferral Period or for any Elective Plan Year, shall be irrevocable and shall not be subject to cancellation by the Participant or, except as expressly provided herein, by the Appropriate Committee or the Company.

• If at any time there is more than one Elective Plan Year as to any Participant, then the Appropriate Committee shall determine whether or not the additional Plan Election which may be submitted in respect of such Elective Plan Years by such Participant shall relate to one or more than one of such Elective Plan Years.

More Definitions of Plan Election

Plan Election means the exercise of an election by an Eligible Subscriber pursuant to the Plan, which election shall be made solely in each such Eligible Subscriber’s discretion, to receive cash in lieu of some or all of the shares of New Common Stock such Eligible Subscriber would otherwise be entitled to receive under the Plan in an amount equal to the value of such shares based on a $260 million equity value or, if the Standby Purchasers elect to increase the price per share payable under the Standby Purchase Agreement, such greater price; provided, that if the number of shares of New Common Stock subject to Plan Elections exceeds the number of shares of New Common Stock equal to 45% of the shares of New Common Stock outstanding as of the Effective Date minus the number of shares of New Common Stock which the Standby Purchasers will receive under the Plan on account of their Claims, then the number of shares of New Common Stock subject to all of the Plan Elections will be reduced pro rata among all Electing Holders; provided further, that in the event of such a pro rata reduction, each Electing Holder shall receive cash for a fewer number of shares than such Electing Holder selected in its Plan Election, and shares of New Common Stock for the balance of the shares selected in such Electing Holder’s Plan Election.

Plan Election means the following: (a) for Employee Participants, an election to defer a part of such Participant’s Base Salary or Annual Incentive Compensation pursuant to Section 3.2, and (b) for Outside Director Participants, an election to defer Director Fees pursuant to Section 3.2. A Participant’s Plan Election shall also include an election by the Participant specifying the calendar year in which payments shall commence, which shall apply unless payment is required earlier pursuant to the terms of Article VI.

Plan Election means the optional election available to each Qualified Holder to receive its Pro Rata share of one hundred percent (100%) of the Post-Effective Date GGH Interests, subject to dilution by the MIP; provided that, unless and until all senior Claims against the Wind- Down Debtors and Reorganized GGH (as applicable) are paid in full or otherwise treated as Unimpaired, no Person or Entity will be entitled to any distribution from the Wind-Down Debtors or Reorganized GGH (as applicable) on account of its Post-Effective Date GGH Interests.

Plan Election means an election to defer a part of a Participant’s Regular Base Salary or Bonus Compensation, all pursuant to Section 3.2.

Plan Election means an election by the Required Lenders, the Required IC Lenders and the Required First Lien Lenders to have an Approved Restructuring implemented through an Acceptable Plan rather than an Acceptable Sale Transaction, which election shall be made within fourteen days of the Petition Date or at such later date as agreed to by the Required IC Lenders.

Plan Election means an agreement filed during the Enrolment Period in respect of any calendar year that constitutes an election to (a) become a Participant in the Plan in respect of such year; (b) forgo receipt of annual compensation; and (c) accept the terms and conditions of the Plan in connection with such forgoing.

Plan Election has the meaning set forth in the Recitals.