Award Deferrals Sample Clauses

The Award Deferrals clause allows for the postponement of granting or distributing awards, such as bonuses, stock options, or other forms of compensation, to recipients. In practice, this clause may specify the conditions under which an award can be delayed, such as pending the achievement of certain performance targets, regulatory approvals, or the resolution of specific events. Its core function is to provide flexibility for the awarding party to manage timing and compliance issues, ensuring that awards are only granted when appropriate and mitigating risks associated with premature distribution.
Award Deferrals. The Committee may permit Participants to elect to defer the issuance of Shares or the settlement of Awards in cash under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan. In the case of an award of Restricted Shares, the deferral may be effected by the Participant’s agreement to forego or exchange his or her award of Restricted Shares and receive an award of Deferred Shares. The Committee also may provide that deferred settlements include the payment or crediting of interest on the deferral amounts, or the payment or crediting of dividend equivalents where the deferral amounts are denominated in Shares.
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Award Deferrals. (i) With respect to an Award for services rendered for a Plan Year or a period of Plan Years (in the case of a long-term Award), a Participant may elect to defer a portion of that Award by filing a Deferral Agreement on or before the close of business on June 30 of that Plan Year, or, in the case of a long-term Award, by June 30 of the final Plan Year of the Award term. In the event that June 30 does not fall on a weekday, such filing must be made by the close of business on the last prior business day. (ii) Notwithstanding the foregoing, for the Plan's initial Plan Year, a Participant, pursuant to transition relief rules issued by the Internal Revenue Service, could elect to defer an Award, including a long-term Award, payable in 2009 by filing a Deferral Agreement by December 31, 2008. (iii) A Participant's election to defer a portion of his Award shall be effective on the last day that such deferral may be elected under this Section 3.2(b) and shall be effective only for the Award so designated by the Participant. (iv) The minimum amount of Award that can be deferred is 5% of the Award, and the maximum amount of Award that can be deferred is 90% of the Award. Awards must be deferred in 5% increments.
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Award Deferrals. A Participant may change his election to defer a portion of his Award prior the effective date in Section 3.2(b)(iii), but his election shall become irrevocable as of the date the election becomes effective, except as described in Section 3.3(c) below. A Participant's Award Deferral election will not automatically remain in effect in subsequent Plan Years; he must make a new Award Deferral election for each Plan Year.
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Related to Award Deferrals

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Deferral Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this Section 2.3, a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such twelve (12) month period. A demand right shall not be deemed to have been exercised until such deferred registration shall have been effected.