Common use of Fixed Deferral Period Clause in Contracts

Fixed Deferral Period. (The Plan gives you the option of electing a Fixed Deferral Period. If you elect a Fixed Deferral Period, the balance of your Deferral Account established pursuant to this Agreement will be distributed to you within 30 days after the end of the Fixed Deferral Period, or, if earlier, the date you die or incur a Termination of Employment or the date a Change in Control occurs. If you do not elect a Fixed Deferral Period, your Account will be distributed upon the earlier of the date you die or incur a Termination of Employment or the date a Change in Control occurs.) PLEASE CHECK ONE OF THE FOLLOWING: I elect a Fixed Deferral Period ending upon attainment of age 43 ___ 47 ___ 51 ___ 55 ___ 59 ___ (MUST ATTAIN AGE SELECTED AT LEAST 3 YEARS AFTER THE END OF THE CALENDAR YEAR IN WHICH THE RESTRICTED STOCK AWARD BECOMES FULLY VESTED. FOR EXAMPLE, IF A TIME-BASED RESTRICTED STOCK AWARD VESTS IN THREE EQUAL INSTALLMENTS IN YEARS 2006, 2007 AND 2008, YOU MUST SELECT AN AGE YOU WILL ATTAIN AT LEAST 3 YEARS AFTER THE LAST INSTALLMENT VESTS (IN THIS CASE, YOUR AGE NO EARLIER THAN 2011.) OR ____I do not wish to elect a Fixed Deferral Period.

Appears in 1 contract

Sources: Deferred Compensation Agreement (Progressive Corp/Oh/)

Fixed Deferral Period. (The Plan gives you the option of electing a Fixed Deferral Period. If you elect a Fixed Deferral Period, the balance of your Deferral Account established pursuant to this Agreement will be distributed to you within 30 days after the end of the Fixed Deferral Period, or, if earlier, the date you die or incur a Termination of Employment or the date a Change in Control occurs. If you do not elect a Fixed Deferral Period, your Account will be distributed upon within 30 days of the earlier of the date you die or incur a Termination of Employment or the date a Change in Control occurs.) PLEASE CHECK SELECT ONE OF THE FOLLOWING: I elect a Fixed Deferral Period ending upon attainment of age 43 on ___ 47 ___ 51 ___ 55 ___ 59 ___ (_____________.* *MUST ATTAIN AGE SELECTED BE A DATE AT LEAST 3 YEARS AFTER THE END OF THE CALENDAR YEAR IN WHICH THE RESTRICTED STOCK AWARD BECOMES FULLY VESTED. FOR EXAMPLE, IF A TIME-BASED RESTRICTED STOCK AWARD VESTS IN THREE EQUAL INSTALLMENTS IN YEARS 20062007, 2007 2008 AND 20082009, YOU MUST SELECT AN AGE YOU WILL ATTAIN A DATE AT LEAST 3 YEARS AFTER THE END OF THE CALENDAR IN WHICH THE LAST INSTALLMENT VESTS (IN THIS CASE, YOUR AGE NO EARLIER THAN 2011.) JANUARY 1, 2013). OR ____I do not wish to elect a Fixed Deferral PeriodPeriod ( ).

Appears in 1 contract

Sources: Deferred Compensation Agreement (Progressive Corp/Oh/)