Elective Deferrals. A participant may elect, by filing the appropriate form pursuant to [Section 8], to defer receipt for any calendar year of either # all of the compensation payable to the participant for serving on the Board of Directors and any committee thereof, # only the retainer fee payable to the participant for service on the Board of Directors, or # any percentage, equal to or exceeding twenty-five percent of the compensation payable to the participant specified in [clause (1) hereof].
Elective Deferrals. A participant may elect, by filing the appropriate form pursuant to [Section 8], to defer receipt for any calendar year of either # all of the compensation payable to the participant for serving on the Board of Directors and any committee thereof, # only the retainer fee payable to the participant for service on the Board of Directors, or # any percentage, equal to or exceeding twenty-five percent of the compensation payable to the participant specified in [clause (1) hereof].
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.