Elective Deferral Credit. The Plan Administrator shall credit to the Account of each Participant the amount, if any, of the Retainer the Participant elected to defer pursuant to this [Section 2]. Such amount shall be credited as nearly as practicable as of the time or times when the Retainer would have been paid to the Participant but for the election to defer.
Deferral Credit. A “Deferral Credit” is the amount credited to a Participant’s Account pursuant to [Section 2.6].
"Pre-Tax Elective Deferral Account" means the portion of the Elective Deferral Account attributable to Pre -Tax Elective
The plan administrator shall calculate the actual deferral percentage for the highly compensated employees as described in [Section 3.4(a)], taking into account any participant contributions made to the Roth elective deferral account. Further, the Roth elective deferral account shall be included with the 401(k) elective deferral account for purposes of the actual deferral percentage and actual contribution percentage tests. Unless specifically stated otherwise, Roth elective deferrals shall be treated as elective deferrals for all purposes under the plan.
Availability of Election – An active participant who is eligible to make 401(k) elective deferral contributions shall be eligible to designate all or a portion of his elective deferral contributions to be credited to his Roth elective deferral account. Such designation shall be irrevocable. The amount of Roth elective deferral together with any salary deferral made under [Section 3.4] may range as provided under [Section 3.4(b)(1)].
"Roth Elective Deferral Account" means the portion of the Elective Deferral Account attributable to Roth Elective Deferrals (i.e., that are subject to federal income tax at the time of their deferral to t he Plan) which does not include amounts attributable to "in-Plan Roth rollover contributions" (as defined in [Section 12.11]). No contributions other than Roth Elective Deferrals and properly attributable earnings will be credited to each Participant's Roth Elective Deferral Account.
For plan years beginning after , distribution of excess contributions for a year shall be made first from the participant's Roth elective deferral account, to the extent Roth elective deferrals were made for the year. Excess elective deferrals shall only be distributed from the 401(k) elective deferral account after the Roth elective deferrals made for the year have been fully distributed.
or a portion of the distribution is to be taken from his Roth elective deferral account (including any Roth elective deferral account for which there is separate accounting under his rollover/transfer account).
From and after the First Redemption Time, each Member (other than and its Subsidiaries) shall be entitled, upon the terms and subject to the conditions hereof, to cause the Company to redeem its Redeemable Units in whole or in part, in each case, relating to a corresponding number of shares of Class B Common Stock after taking into account the Exchange Rate (in each case, free and clear of all Liens) of such Member, in exchange for the delivery to the Member (or its designee) of either, at the option of the Board, # a number of shares of Class A Common Stock that is equal to the product of the applicable Redeemed Unit Amount multiplied by the Exchange Rate or # solely in connection with a Redemption (including a Change of Control Redemption) that coincides with a substantially concurrent public offering or private sale of Class A Common Stock, the applicable Cash Payment. Any redemption of Redeemable Units for Class A Common Stock or the Cash Payment, as applicable, is defined herein as a “Redemption.” Subject to [Section 9.1(a)(ii)], after the First Redemption Time, each Member (other than and its Subsidiaries) may elect to cause the Company to redeem Redeemable Units at any time and from time to time in accordance with the terms of this Agreement, but a Unitholder may not cause a Redemption more than once per Fiscal Quarter without the prior consent of . The minimum number of Redeemable Units (and corresponding number of shares of Class B Common Stock after taking into account the Exchange Rate, if any) that may be redeemed by any Member shall be the lesser of # 20,000 and # all of the Redeemable Units (and corresponding number of shares of Class B Common Stock taking into account the Exchange Rate, if any) then held by such Member and its Affiliates. Notwithstanding anything to the contrary herein, the Company shall not, nor shall pursuant to [Section 9.1(f)], effectuate a Cash Payment pursuant to this [Section 9.1(a)] or [Section 9.1(b)] unless(A) determines to consummate a private sale or public offering of Class A Common Stock on, or not later than five (5) Business Days after, the relevant Redemption Date and # contributes sufficient proceeds from such private sale or public offering to the Company for payment by the Company of the applicable Cash Payment. For the avoidance of doubt, the Company shall have no obligation to make a Cash Payment that exceeds the cash contributed to the Company by from ’ offering or sales of Class A Common Stock referenced earlier in this [Section 9.1(a)(i)].
Elective Options. Each Elective Option shall vest and become exercisable as to 25% of the Shares subject to the Elective Option (each, a “Tranche”) upon the Non-Employee Director completing three months of continuous service as a Non-Employee Director, or in the applicable position, following the Issue Date, provided that the fourth and final Tranche of each Elective Option will vest and become exercisable on the earlier of the first anniversary of the Issue Date or the day immediately prior to the date of the next annual meeting of the Company’s stockholders occurring after the Issue Date. By way of example, if, during a given Service Year, a Non-Employee Director ceases to serve on a committee of the Board for which such Non-Employee Director was granted a Committee Member Retainer Elective Option but continues to serve on the Board as a Non-Employee Director, such Non-Employee Director’s Base Retainer Elective Option will continue to vest and become exercisable while such Non-Employee Director continues to serve as a Non-Employee Director and any portion of such Non-Employee Director’s Committee Member Retainer Elective Option that has not become vested and exercisable on or prior to the date such Non-Employee Director ceases to serve on such committee shall be immediately forfeited on the date such Non-Employee Director ceases to serve on such committee.
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