AMOUNTS DEFERRED Clause Samples

The "AMOUNTS DEFERRED" clause establishes the terms under which certain payments or financial obligations are postponed to a later date. Typically, this clause specifies which amounts are eligible for deferral, the conditions that must be met for deferral to occur, and the timeline or triggers for eventual payment. For example, it may allow a party to delay payment of fees or installments until a project milestone is reached or a specific event occurs. The core practical function of this clause is to provide flexibility in cash flow management and to accommodate circumstances where immediate payment is not feasible or desirable for one or both parties.
AMOUNTS DEFERRED. A Participant shall be one hundred percent (100%) vested at all times in the amount of Compensation elected to be deferred under this Plan to the Deferral Account and In-Service Account, if any, including any Interest thereon.
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AMOUNTS DEFERRED. Sole Property of the Employer - All amounts of Compensation deferred under this Plan, all property and rights which may be purchased by the Employer with such amounts and all income attributable to such amounts, property or rights shall remain the sole property and rights of the Employer subject only to the claims of the Employer’s general creditors. It is understood that the Employer is not obligated hereby to purchase any property or rights to support the promises made under this Plan. The obligation of the Employer is purely contractual and need not be funded or secured in any way.
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AMOUNTS DEFERRED. The Participant shall be one hundred percent (100%) vested at all times in the amount of Compensation elected to be deferred under the Plan and Rate of Return thereon.
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Related to AMOUNTS DEFERRED

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contributions 16.01 Employer contributions shown in the tables in the attached appendices shall be made on all hours of work performed which are included in computing the eight (8) hours per day and forty (40) hours per week after which overtime is payable and shall be recorded on a standard remittance report provided by the Union and remitted on or before the fifteenth (15th) day of the month following the month for which contributions are due and payable, to the Trust Funds. Hours of work performed are interpreted to mean daily travel time, daily working time, reporting time, and, if the employee is required to perform a welding test, testing time. Contributions for overtime hours will be calculated as straight time hours. The Employer shall provide each employee covered by this Agreement with a statement with each weekly paycheque stating the total number of hours reported for contributions to the Pension and Health & Welfare Funds on behalf of that employee for the period covered by the paycheque. 16.02 All such funds due and payable to the above funds shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds are not wages or benefits due to an employee and industry promotion funds are deemed to be dues for services rendered by the Association. 16.03 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Fund, including provisions for an audit, security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds as liquidated damages, and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 16.04 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 16.05 The Employer shall not be required to make additional contributions or payments to any Industry Funds established by the Union or its Local Unions nor to any such funds established by Provincial or Territorial Government orders, regulations, or decrees for the purpose of providing similar benefits, it being understood and agreed that the contributions for herein, or any portions thereof shall be deemed to be in lieu of and/or shall be applied as payments to such funds. This provision shall not be applicable to any national funds or plans having general application and established by an Act of the Government of Canada. 16.06 In the Province of Ontario, the Trustees/Administrator of the employee benefit funds referred to in this Agreement shall promptly notify the Local Union of the failure by any Employer to pay any employee benefit contributions required to be made under this Agreement and which are owed under the said funds in order that the Program Administrator of the Ontario Employee Wage Protection Program may deem that there has been an assignment of compensation under the said Program in compliance with the Regulations to the Ontario Employment Standards Amendment Act, 1991, in relation to the Ontario Employee Wage Protection Program. 16.07 The parties hereto agree that contribution rates for the trust funds listed herein do not include any Provincial or Federal taxes.