Directors’ Deferred Compensation Sample Clauses

The Directors’ Deferred Compensation clause establishes a system where compensation owed to company directors is postponed to a future date rather than being paid immediately. Typically, this clause outlines the conditions under which directors can elect to defer their fees or bonuses, specifies the timing and form of eventual payment (such as cash or stock), and may address how deferred amounts accrue interest or are invested. Its core practical function is to provide directors with tax planning flexibility and to align their interests with the long-term success of the company, while also helping the company manage its cash flow.
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Directors’ Deferred Compensation. TXI permits each of its directors (“TXI Director”) to annually defer a portion of his or her director fees pursuant to a Deferred Compensation Agreement (“TXI Director’s Agreement”), and to, in effect, convert the amount of the deferred compensation into hypothetical TXI shares, with a corresponding number of actual TXI shares distributed upon the applicable distribution date set froth in each such TXI Director’s Agreement. Effective on the Distribution Date, Chaparral shall assume and thereafter be solely responsible for all then existing or future Liabilities and administrative responsibilities arising from or related to all TXI Director’s Agreements to which any TXI Director who becomes a Chaparral director (“Chaparral Director”) is a party, and such assumed TXI Director’s Agreements are hereafter referred to as “Chaparral Director’s Agreements”. All of the Agreements will be amended, effective on the Distribution Date, to provide that (i) the additional hypothetical Chaparral shares credited under each TXI Director’s Agreement as a result of the Distribution shall be converted to an equivalent value of TXI shares, and (ii) the hypothetical TXI shares credited under each Chaparral Director’s Agreement shall be converted to an equivalent value of hypothetical Chaparral shares. As a result of such conversions, on the applicable distribution dates TXI Directors will receive only TXI shares and Chaparral Directors will receive only Chaparral shares.
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Directors’ Deferred Compensation. Effective on the Distribution Date, Chaparral shall assume and thereafter be solely responsible for all then existing or future Liabilities arising from or related to any deferred compensation agreement covering any TXI director who becomes a Chaparral director and the administration thereof; provided, however, the terms of any such agreement may be amended to denominate the value thereof in shares of Chaparral Common Stock and to adjust the number of such shares so that the value of the deferred account immediately after the Distribution is not affected by the Distribution. TXI shall retain sole responsibility for all then existing or future Liabilities arising from or related to any deferred compensation agreement covering other TXI directors, whether the deferred compensation was earned as a director or as an executive officer.
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Directors’ Deferred Compensation 
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Related to Directors’ 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 Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • 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 Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

  • 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.