Amount Deferred Clause Samples
The "Amount Deferred" clause defines the portion of a payment or financial obligation that is postponed to a later date rather than being paid immediately. In practice, this clause specifies the exact sum to be deferred, the conditions under which it will be paid, and any applicable interest or penalties for late payment. By clearly outlining the deferred amount and the terms of its future payment, this clause helps manage cash flow and provides certainty for both parties regarding outstanding financial commitments.
Amount Deferred. Subject to the limitation herinafter set forth in this paragraph, the Employee hereby agrees to defer receiving from Combined any bonus(es) (other than Combined’s usual Christmas bonus) in the amount of $2,000 or more which may become payable to the Employee during the period from the date of this agreement to December 31, 1981. The amount deferred hereunder shall not exceed 20% of the Employee’s aggregate compensation paid to him during the year ending on December 31, 1981 or $25,000, whichever limitation is reached first. In the event that the Employee becomes entitled to receive a bonus(es) in excess of such limitation, Combined shall release for payment to the Employee the excess portion of such bonus(es). The amount deferred under this Agreement, together with interest credited in accordance with paragraph 2 of this Agreement, is hereinafter referred to as the “proceeds.”
Amount Deferred. Subject to the limitation hereinafter set forth in this paragraph, the Employee hereby agrees to defer receiving from Combined any bonus(es) (other than the first $10,000 of contractual bonus(es) and Combined’s usual Christmas bonus) and any SIP renewals, which may become payable to the Employee during the period from January 1, 1983 to December 31, 1983, (Accumulation Period), if the amount of such bonus(es) and SIP renewals exceeds $2,000. The amount deferred hereunder shall not exceed 20% of the Employee’s aggregate compensation paid to him on December 31, 1983. In the event that the Employee becomes entitled to receive a bonus(es) and SIP renewals in excess of such limitation, Combined shall release for payment to the Employee the excess portion of such bonus(es) and SIP renewals. The amount deferred under this Agreement is hereinafter referred to as the “proceeds”.
Amount Deferred