Common use of Initial Election Clause in Contracts

Initial Election. The Executive shall make an initial deferral election under this Agreement by filing with the Bank a signed Election Form within 120 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Bonus to be deferred and shall be effective to defer only Bonus earned after the date the Election Form is received by the Bank. In order to participate in this plan to defer Bonus, the Executive must defer a minimum of 5% and a maximum of 25% of the Executive's Bonus.

Initial Election. The Executive shall make an initial deferral election under this Agreement by filing with the Bank a signed Election Form within 120 thirty (30) days after the Original Effective Date of this Agreement. The Election Form shall set forth the amount of Bonus Compensation to be deferred and shall be effective to defer only Bonus Compensation earned after the date the Election Form is received by the Bank. In order to participate in this plan to defer Bonus, the Executive must defer a minimum of 5% and a maximum of 25% of the Executive's Bonus.

Initial Election. The Executive shall make an initial deferral election under this Agreement by filing with the Bank a signed Election Form within 120 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Bonus Compensation to be deferred and shall be effective to defer only Bonus Compensation earned after the date the Election Form is received by the Bank. In order to participate in this plan to defer Bonus, the Executive must defer a minimum of 5% and a maximum of 25% of the Executive's Bonus.

Initial Election. The Executive shall make an initial deferral election under this Agreement by filing with the Bank a signed Election Form within 120 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Bonus Compensation to be deferred and shall be effective to defer only Bonus Compensation earned after the date the Election Form is received by the Bank. In order to participate in this plan to defer Bonus, no event can the Executive must defer a minimum of 5% and a maximum of 25Executive's Deferrals for any Plan Year exceed 75% of the Executive's BonusCompensation for that Plan Year.

Initial Election. The Executive shall make an initial deferral election under this Agreement by filing with the Bank a signed Election Form within 120 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Bonus Compensation to be deferred and shall be effective to defer only Bonus Compensation earned after the date the Election Form is received by the Bank. In order The Executive shall not be permitted to participate in this plan to defer Bonus, the Executive must defer a minimum of 5% and a maximum of 25% of the Executive's Bonusmake any deferrals after reaching Normal Retirement Age.

Initial Election. The Executive shall make an initial deferral election under this Agreement by filing with the Bank a signed Election Form within 120 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Bonus Compensation to be deferred and shall be effective to defer only Bonus Compensation earned after the date the Election Form is received by the Bank. In order to participate in this plan to defer Bonus, the Executive must defer a The minimum amount of 5% and a deferral which may be deferred annually is $5,000. The maximum of 25amount which may be deferred is 80% of the Executive's Bonusbase salary.