Claims for Deferred Compensation Sample Clauses

Claims for Deferred Compensation. The Company and the Grantee hereby agree that the purpose of this Agreement is to provide supplemental benefits to the Grantee in the form of deferred compensation. For purposes of Title I of the Employment Retirement Income Security Act of 1974, as amended (“ERISA”), this Agreement is intended to constitute an unfunded plan maintained for the purpose of providing deferred compensation for the Grantee. Any claim for compensation hereby by the Grantee shall be made in writing to the Administrator. If such claim for compensation is wholly or partially denied, the Administrator shall, within ninety (90) days after receipt of the claim, notify the Grantee of such denial (unless the Administrator determines that special circumstances require an extension of time for processing the claim). Such notice of denial shall be in writing, shall be delivered to the Grantee in writing or by electronic notification, shall be expressed in a manner calculated to be understood by the Grantee and shall contain (1) the specific reason or reasons for denial of the claim, (2) reference to the specific provisions of this Agreement and/or the Plan upon which the denial is based, (3) a description of any additional material or information necessary to perfect the claim and an explanation of why such material or information is necessary, and (4) an explanation of the claim review procedure, as specified under the provisions of this Section 13. Furthermore, if notice of the denial of a claim is not furnished by the Administrator to the Grantee in accordance with the provisions of this Section 13, the claim shall be denied and the Grantee shall be permitted to proceed to the review stage provided in this Section 13.
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Related to Claims for Deferred Compensation

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • REFUND OF UNEARNED COMPENSATION The Party of the Second Part agrees to refund the Party of the First Part any compensation received for which no services were rendered. TERMINATION: This contract may be terminated by either party pursuant to law. OTHER CONDITIONS: Any subsequent contracts shall supersede the provisions of this contract. PARTIES: The Fort ▇▇▇▇▇ School District 100, Party of the First Part, and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Party of the Second Part, agree as follows: