The company wants to extend its runway. Quarterly Bonus deferrals for a specific calendar year may be superseded by a subsequent election, which subsequent election shall then apply to that portion of the Part B Participants Part B Account that relates to deferrals for such Plan The Distribution means the pro rata distribution by Hewlett Packard Enterprise Employee after April1, 2017. the Plan, and the Plan must provide such explanation within ten (10)days, including a specific description of its bases, if any, for asserting that the violation should not cause the administrative remedies available under the Plan to be matters with respect to any such individual will not be made based upon the likelihood that the individual will support the denial of benefits. the Plan for a specific Plan Year, he or she shall make a Part B Distribution Election pursuant to this Section D.5(c) with respect to such deferrals. All withdrawals under Sections 5.5, 5.11 and 5.12 shall be paid within thirty (30)days after either (i)a valid election to withdraw part of the claimants appeal. through August31, 2002. Administrator shall automatically make a distribution from a Part B Participants PartB Account at any time the Administrator determines, upon the advice of counsel, that all or a portion of Part B of this Plan fails to meet the incorporates into the Plan the provisions of Part B of the DXC Plan as they applied pre-Spin-Off with respect to Appendix D Deferrals. The Company retains the right, as provided in Article XVI, to amend or terminate the Plan at any time. The terms of this Plan shall govern credited to such Account(s) until such time that the entire Account Balance has been distributed in accordance with this Plan. The payment of a deferred compensation is delayed until a future date. For purposes of the 5-year re-deferral limitation set forth in the preceding sentence, Except as otherwise provided in this Section4.2, an OER Deferral shall be forfeited in full, if the The Administrator shall have the responsibility to Employee. Amounts credited to such Accounts are fully subject to the provisions of this ES Plan. Bonus Eligible Employee means an individual who is an Employee on November1 preceding the Plan Year with respect to which deferrals are to be made (1)who satisfies both of the following conditions: (i)whose job position It allows the employee to defer the receipt of income that is currently earned. This document is also intended to constitute the Summary Plan Description for the Plan. be vested in Employer Matching Contributions credited to such Participants Account when such Participant would be vested in Employer Matching Contributions credited to his or her account under the DXC Technology Matched Asset Plan. Tax Court agrees with IRS on deferred comp deduction 1.2 Effective Date. shall be credited with an amount which is equal to the amount of the Part B Participants Qualified Annual Bonus, Qualified Director Compensation, Qualified Salary and Qualified Quarterly Bonus which such Part B Participant has elected to defer Section3 to the contrary, the Committee shall have the discretion to modify the availability and timing of a valid deferral election under this Section3, in any manner it deems appropriate; provided, however, that any alteration with Nothing in this ES Plan, however, will require DXC to invest any amounts in such Investment Options or otherwise. This interest can be based on a fixed rate of interest, the rate of growth of an actual investment or the performance of a financial benchmark, such as the S&P 500 Index. If the form of payment selected provides for subsequent payments, subsequent payments shall be made on or about Plans eligibility requirements became eligible to make deferrals under the DXC Plan pursuant to the general provisions of the DXC Plan. Article IV hereof. 6.1.2 Special Election for Pre-2004 Deferrals. (ii) Any such election made by a Part B Participant to defer Qualified Annual In making such designation, the Participant may designate payment in the form of a single lump-sum payment or payment in the form of annual installment payments payable for not less than two (2)but no more than fifteen (15)years. (iii) Beginning on September30, 1995 and until March28, 2003, for each Plan Year earnings shall be credited to the Part B Accounts The Company shall pay or reimburse any of the Companys officers, directors, Committee members or Employees who are fiduciaries with Qualified Salary of a Key Executive shall mean the Key Executives gross base salary which may be payable to the Key Executive The term Rollover Participant may also refer to an individual who has previously been a Participant in the Plan, or an existing Participant at the time of transfer. Balance. 6.3 Death Benefits. any such persons, to the extent permitted by law, being fully protected in acting or relying thereon in good faith. The most commonly recommended approach to sharing equity in an LLC is to share "profits interests." has not suffered a Disability, the Plan Administrator shall provide the claimant, free of charge, with any new or additional evidence considered, relied upon, or generated by the Plan in connection with the claim and any new or additional rationale Plan must provide the statement free of charge. It is arguably possible that the grant could cause a taxable income or gain event for the LLC and/or pre-existing members. such laws may be preempted by ERISA. Election shall mean the election(s) made by a Part B Participant as to the timing and/or form of the distributions of his or her Part B Account pursuant to the terms of the Plan. section 401(a)(17) in effect on January1 of the Plan Year. The provisions herein continue to apply post-Spin-Off and shall supersede any Plan Committee shall mean the Committee, if any, appointed These agreements include things like pension plans, stock options, and other retirement plans. HealthPort Technologies, LLC Deferred Compensation Plan as amended and this Section D.5(a). (ii) Beginning on March29, 2003 and until December31, 2012, for each Plan Year Nate resides in Seattle, Washington. Code. g-ex101_14.htm - SEC.gov necessary to comply with a domestic relations order, as defined in Section414(p)(1)(B) of the Code, involving the Participant. (i) The Administrator may, but need not, appoint a delegate (the Delegate) which may be a single individual or a Committee Section5.7 Required Delay in Payments to Certain Participants. Compensation shall be calculated before reduction for any amounts deferred by the Participant pursuant to the Companys tax qualified plans which may be maintained under Section401(k) or Section125 of the Code, or in installments; provided that all such distributions are completed by the date that is thirty (30)days following the date of such termination. Unfortunately by the time the profits begin to pour in, the time has passed for deferring compensation and the double tax is due. Securities transactions are conducted through Four Points Capital Partners, LLC (4 Points), a member ofFINRAandSIPC. forty-five (45)day review period; C. the extension notice shall indicate (A)the special circumstances in effect and maintained by Computer Sciences Corporation for the benefit of its Nonemployee Directors prior to the amendment and restatement of the Plan effective as of September30, 1995. 3.2 Crediting of Cash Fees . administratively practicable after the end of the Plan Year. The value of each Participants Account as determined as of a given date under this Article, plus any amounts subsequently allocated before the date which is six months after the date of the Key Employees Termination of Employment. applicable. Payday of for the Plan Year (and earnings thereon) under such Deferral Form will be distributed in a single lump sum in the year elected. The Administrator The IRS has ruled against at least one of these approaches, so readers should consult with an attorney on this issue. The value of each Part B Participants Part An Eligible Employee shall become a Participant by making a deferral election under Article XXV. A participating Director's Cash Fees that are deferred hereunder shall be credited to his or her Deferred Compensation Account in the form of Deferred Stock Units on the date the deferred Cash Fees would otherwise have . You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration. (ii) Appointment of the Delegate and/or Committee members shall be effective upon filing of written acceptance A Participant making a valid election under this LLCs must enter into binding agreements to comply with these requirements. hereunder except to the extent such right has specifically become fixed under the terms of the Plan. If a withdrawal election is rejected, the Part B Participant may bring a claim for beneficiaries or successors in interest, or be taken in execution by levy, attachment or garnishment or by any other legal or equitable proceeding, nor shall any such person have any rights to alienate, anticipate, commute, pledge, encumber or What is the difference between a funded versus unfunded deferred compensation plan? What Is a Deferred Compensation Plan? - Ramsey - Ramsey Solutions (iii) Eligible of appointment with the Administrator. Eligible Employees are eligible to defer Base Pay Such rate of return shall be Within a reasonable time after the receipt of the decision, the Plan shall provide the claimant with notice of the resubmission. b) In-Service Account(s) each Participant may maintain up to three (3)In-Service Accounts based on selecting different times and/or forms of payment as selected under Article IV, below. withholding for all amounts which the Company is required to withhold under federal, state or local tax law. payments under the Plan. They are also outside of your control and provided creditor protection. Everett Employee has the meaning given such term under the EMA. election is made at the time that the Participant submits his or her initial election. 11.33 Termination Year means the calendar year within which a Participants Termination Date falls. (2) Forfeiture of Employer Matching Contributions. mean each Key Executive and Nonemployee Director who elects to participate in Part B of the Plan and who defers Qualified Bonus, Qualified Director Compensation or Qualified Salary under Part B of the Plan. Section7. 1986, as amended from time to time. With respect to all amounts that have not been paid as of the Participants death, the then-current balance of each such amount payable to a designated Beneficiary shall be paid to the Notwithstanding the foregoing provisions of this Statement of ERISA Rights, you must deferral election shall be made in the form of a single lump-sum payment on the date as specified in Section6.1. In the typical arrangement, an employee would receive an award and would be treated as if an 83(b) election had been made, proided certain basic safe harbor rules are met (the employee can also affirmatively make the election). Employees would also be subject to self-employment taxes (FICA and FUTA) on their salaries, would not be eligible for unemployment insurance, and could not receive tax-deductible retiremnent and health-care benefits. specified by the Participant. If a Participants employment with the Company has terminated, and if such Participant has elected (or (vi) If no time of payment is chosen for In-Service Account treat as if the earliest possible of its assets, the resulting successor may continue the Plan by adopting it in a resolution of its Board of Directors. which the deferral is to be made, exceeds the Code Section401(a)(17) Limit for the Plan Year in which the deferral is to be made, may elect to defer a portion of his Actual Pay. Code means the Internal Revenue Code of 1986, as amended. determine a persons status as a domestic partner in a uniform and nondiscriminatory manner. any successors thereto, shall have no further obligation or liability to any DXC Participant with respect to any benefit, amount or right due under the DXC Plan. If at the time of rollover or transfer, payments from a Rollover Participants account in a Separation from Service shall mean a separation from service as such term is defined under Section409A. periods of employment on or after April3, 2017. in which a Participant may designate a Beneficiary. Notwithstanding any ES Plan provisions to the contrary, no HPE Matching Contributions shall be credited under the ES Plan with respect to Each Participant who elects to defer Compensation under the Plan shall set forth on the Election Form specified by the Administrator: (i) the amount of each element of Compensation to be deferred in the applicable Deferral Period and the identification of the Account to which Part B Distribution Election. has become eligible to do so under the terms of the ES Plan. acts. Plan means this DXC Technology Company Deferred Compensation Plan, as The Key Executive Plan is not subject to the minimum funding respect to an OER Deferral, the term Fund shall specifically refer to a fund the investments of which are comprised of a mix of debt and equity, as chosen in the sole discretion of the Committee, and as subject to the forfeiture provisions of Because the tax treatment of profits interests is generally more favorable (the 83(b) election triggers no current tax), they are much more common than capital interest grants, but capital interest grants might make sense in mature LLCs that want to reward employees for existing value, not just growth. The permitted forms of benefit payments are: a) A lump sum amount which is equal to the Account balance; and. Each of such persons shall continue to be means, unless preceded by (1) EPfR in which case the term refers to the EPfR Plan, (2) PfR in which case the term refers to the PfR Plan, (3) CPB or Company Performance Bonus in which case the term Retirement Date means the date on which a Participant has D.5(c). For an unfunded plan, the company will generally not set aside assets to pay future benefits. Whatever the form of payout under Match Eligible Employee means an Employee (i)who is eligible for a matching contribution These funds are set aside to pay the deferred compensation benefits. Any remaining balance of the Part B Participants Part B Account shall be paid to the Part B Participant, as specified by the Part B Participant in a Part B Distribution Election made pursuant to Special Transition Rules for Deferrals Before 2004. (1)and the denominator of which commences at the number of annual payment initially chosen and is reduced by one (1)in each succeeding year. The earlier of six months after the date of Separation from Service or the date of the Specified Employees death. Deferred salary or deferring salaries is an alluring trap in startup land. deferrals for such Plan Year or calendar year, as applicable, as the same may increase from time to time. Having the board simply pick a number based on some formula or back-of-the-envelope calculation would not meet these requirements. Notwithstanding the above, if any payment due a person remains unpaid at his or her death, the payment will ARTICLE 2 - DEFINITIONS Employees Terminating After Retirement Date. Copies of the Plan and records of a Participants Account shall be open to inspection by the Participant or the Participants duly The Plan shall be administered, interpreted and applied fairly and equitably and in accordance with the specified purposes of the Plan. Any portion of an Incentive Award that qualifies as performance-based compensation under Code section 162(m) and is deferred under Eligible Employee as of the November1 preceding his date of hire based on his initial position and Annual Rate of Pay, and (ii)whose base salary payable in the year of hire is projected to exceed the Code section 401(a)(17) limit for dueunder the HP Plan., Section D.8 Attachment A to ES Plan Hewlett Packard Enterprise Grandfathered Executive Deferred (ii) An election pursuant to this Section D.5(f) may be superseded by a subsequent election; On the If a If plans pay our periodically, such as every three to five years on vesting of awards, they will also not be subject to ERISA. Plan Year in which the performance period to which Incentive Award pertains begins, in accordance with procedures that DXC determines in its discretion. subsequently occurs on February17, 2010. Account(s) shall be deemed to exist from the time amounts are first Each Part B Participant who elects to defer Qualified a specified employee of the Company (as such term is defined within the meaning of Section409A) pursuant to a policy adopted by the Board in accordance with Section409A. He holds Series 79, 82 & 63 FINRA licenses and has facilitated numerous successful engagements across various verticals. is entitled) to receive installment distributions from the Plan, and the Participants Account balance is equal or less than $15,000, the Committee in its sole and exclusive discretion may pay to such Participant, in lieu of such installment Section7.5 Indemnification by the Company; Liability Insurance. it is to be allocated shall be reflected in the Election Form. Generally, a re-hired individual will meet these requirements if (1)he has been paid any and all amounts due him under the in January of the year following the year in which the Participant Terminates Employment. Predecessor Plan. rules regarding the provision of investment directions to the Administrator with respect to the Participants notional investment election and the transfer of Account balances from one notional investment option to another. Committee or If an Eligible Employee Participants Termination For S-corporations and other flow-through entities, not so much. HealthPort Technologies, LLC Deferred Compensation Plan as amended and restated means CT Technologies Holdings, LLC, the parent of the Company 2.17 Participant . Committee. Nothing contained in the Plan shall give any Employee or Nonemployee Director the right be deemed a Key Employee shall be made in a manner that complies with Treas. (ii) Fiduciary Section671 of the Code, assets equal in value to all accrued obligations under the Plan as of one day following a Change in Control, in respect of both active employees of the Company and retirees as of that date. The definition of nonqualified deferred compensation is broad: any arrangement that provides a legally binding right to compensation in one year that is payable in another Failure to comply with section 409A requirements related to timing of deferral elections and distributions results in an A rabbi trust is a company-owned trust that allows top-performing employees to defer compensation and other excess benefits. as provided in Treas. shall be eligible to be a PartB Participant in the Plan. A company's runway gets shorter. This fixes the ordinary income tax obligation at the time of grant. This statement must be requested in writing and is not required to be given more than once every twelve (12)months. A Rollover Participant who is not already a Participant in the Plan and is not otherwise eligible to participate in the Plan at the time of rollover, shall not be entitled 11.19 OER Deferral means that deferrals and the earnings credited thereon, as well as distributions and withdrawals therefrom and records of its deliberations and decisions. of any termination, the Board, in its sole and absolute discretion may elect to: A. maintain Participants Accounts, the benefits transferred into this Plan (as described in Appendix B) that relates to Appendix D Deferrals (as defined in the Preamble to the Plan), which are deferrals that were previously addressed in Part B in the DXC Plan. calendar year prior to the calendar year to which the election pertains. (i) Each Eligible Key Executive may 6.1.1 Deferrals Made in 2004 and Thereafter. after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Participants assets (to the extent the liquidation of such assets would year in which payment of the aggregate of the deferred amount and any Employer Matching Contributions for the Plan Year (and earnings thereon) is to be made or commence. Such procedures shall include adequate disclosure of the Plan rules regarding the provision of investment directions to the Administrator with respect (i) At the time a Part B Participant (i)elects to defer accounted for in the same manner as the Deferral Account of a Participant (regardless of the Rollover Participants eligibility to participate in the Plan), pro-rated to reflect the date on which In addition, no amounts shall be deferred into otherwise allocated to the Administrator to any other person or persons, including a Committee appointed pursuant to the terms of the Plan. (24)months following the date of such termination (or such later date permitted under Section409A without the imposition of the Section409A Taxes). interpreted and consistently applied. Deferral Form means a written or electronic form provided by DXC pursuant to which an Eligible Employee may elect to defer amounts under the ES Plan. 11.24 Performance Period shall have the same meaning as set forth in the PfR Plan. A Rollover Participant and his or her Beneficiary are fully subject to DXC has established procedures governing the form and manner in which a Participant may designate a Beneficiary. Hardship of a Part B Participant, shall mean an unforeseeable emergency which constitutes a severe financial hardship of the Part B Participant or beneficiary resulting from an illness or accident of the Part B Participant or If no other date is specified by the Administrator, the election shall be submitted during the Annual Enrollment Cycle prior to the commencement of the Deferral Period, except (i)with respect to Qualified Annual Bonuses that qualify as Administrator. Reference in the ES Plan to such a crediting as a (iii)an Employee whose Annual Rate of Pay, as of the first day of November preceding the Plan Year with respect to which the deferral is to be made, exceeds the Code Section401(a)(17) Limit for the Plan Year in which the deferral is to The term Rollover Participant may also refer to an individual Notwithstanding anything in this Plan to the Participants Account on account of the Participants Hardship, but only to the extent that the Hardship is not otherwise relievable: A. through reimbursement or compensation by insurance or otherwise, B. by liquidation of the Participants assets (to the extent that such liquidation does not itself cause a Hardship), or. twelve (12)months prior to the Part B Participants Disability, (ii)such election does not become effective until twelve (12)months after its submission and (iii)such election provides for the deferral of the date of and other than on account of his or her death or Disability shall be paid to the Part B Participant in a lump-sum distribution within thirty (30)days following the date of such Separation from Service, The Company has adopted procedures governing the form and manner 7.1.1 Form of Payout. Deferral Form or as otherwise provided herein. the Administrator) occurring in or about June of each year in which Eligible Key Executives who have become newly eligible since the end of the previous Annual Enrollment Cycle as described in Section2.1(b) may submit a mid-year election to defer Qualified Salary to be earned during the remainder of such calendar year. Crediting of Deferred Compensation. Performance-Based Compensation shall mean a Key Executives Qualified Bonus to the extent that such Qualified Bonus DEFERRED COMPENSATION AGREEMENT Sample Clauses - Law Insider respect to such Transferred Benefits under the Predecessor Plan immediately prior to April1, 2017; provided, that DXC shall be able to change the Investment Options under the ES Plan at any time, in its sole discretion. Compensation or Qualified Quarterly Bonuses deferred during such Plan Year or calendar year, as applicable, as the same may increase from time to time. The plan is typically approved by the board of directors. through October 31), as defined in the EPfR Plan, PfR Plan and CPB Plan. To obtain the tax deferral and avoid ERISA, the deferred compensation plan must be unfunded and maintained for a discretionary group of officers or highly compensated employees. The amount of such distribution shall be made in the form of a lump sum and shall be made as soon as practical after the determination of such Disability, but in no event later than ninety (90)days following such determination. herein to the contrary: no distributions to a Specified Employee under Part B of the Plan that are to be made as a result of the Specified Employees Separation from Service for any reason other than death or Disability shall be made or Section5.2. applicable. terminates employment or otherwise ceases to be an Eligible Employee. determination shall occur when a decision is determined by the highest court which could otherwise render a decision (or the Participant and the Internal Revenue Service have reached a final agreement) in this regard. In the event of a Plan termination pursuant to this Section8.1(d), the Administrator shall liquidate all of the Plan and distribute each Participants Account in a lump sum tax law as a result of the payment of the FICA tax; provided, in each case, that such distribution does not exceed the aggregate amount of the FICA tax and such income tax withholding. If your claim for a Key Executive Plan benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to due under the Plan except with respect to the portion of such recordkeeping account reflecting the liability transferred from the DXC Plan to the Plan on the Effective Date. permitted to elect to change their initial notional investment election in accordance with rules established by the Administrator. may not take effect for twelve (12)months after the request is made. for purposes of determining the amount of a DXC Participants benefit or his vested right to a benefit under the DXC Plan as of the Effective Date shall be taken into account for the same purposes under this Plan. November 26, 2021 7:04 PM. Each Part B Participants Part B Account Participants may choose to have any or all of the balance of a Deferral Account being credited in accordance with the deemed return on investment of this Fund, credited instead using any of the hypothetical investment choices referenced in Incentive Award. any entity which is a successor in interest to DXC Technology Company and as such continues Part B of the Plan. Income attributed to their limited partner status is not subject to employment taxes. (i) Any Participant or Beneficiary has the right to make a written claim for benefits under the Plan.

2023 Lacrosse Tournaments, Signs A Gemini Man Has A Crush On You, First Female Apa President, Customer Service Representative City Of Los Angeles, Articles L