Election to Re-Defer Compensation by Nonqualified Deferred Compensation Plan

The legal template titled "Election to Re-Defer Compensation by Nonqualified Deferred Compensation Plan under USA Law" is a document designed for individuals who participate in a nonqualified deferred compensation plan and wish to make changes to their deferred compensation arrangement. The template covers the process of electing to re-defer a previously elected portion of their compensation, in compliance with the relevant laws and regulations governing deferred compensation plans in the United States.

This template provides a structured framework to guide individuals through the process of modifying their deferred compensation agreement, outlining essential information that needs to be included in the election. It clarifies the legal requirements that must be met, such as deadlines, necessary forms, and disclosures, ensuring compliance with applicable laws and regulations.

The document may include sections that allow individuals to specify the desired modifications to their deferred compensation arrangement, such as changing the deferral percentages, deferral periods, or beneficiaries. Additionally, it may address potential tax implications associated with re-deferring compensation and provide space for relevant financial information or conditions.

Overall, this legal template serves as a resource for individuals participating in nonqualified deferred compensation plans to formalize their elections to re-defer a portion of their compensation, ensuring clarity and compliance with US laws governing these plans.