Company Deferrals Clause Samples
The Company Deferrals clause allows a company to postpone certain payments or obligations that would otherwise be due under an agreement. In practice, this clause typically specifies the conditions under which deferral is permitted, such as financial hardship or the need to preserve cash flow, and may outline the process for notifying the other party and the timeframe for eventual payment. Its core function is to provide the company with flexibility in managing its financial commitments, helping to mitigate the risk of default or financial strain during challenging periods.
Company Deferrals. The Company shall credit to a Participant’s Account a matching contribution for the Plan Year and a retirement-6 contribution for the Plan Year. Company Deferrals begin to share in the investment earnings (or losses) at the time specified in section 4.01. The Company may credit matching contributions to a Participant’s Account during the Plan Year on a contingent basis; if the Participant does not satisfy the requirements to receive a matching contribution for the Plan Year, or if the matching contribution credited to the Participant’s Account for the Plan Year is incorrect, the Participant will forfeit any excess matching contribution (adjusted to reflect investment earnings or losses thereon) credited to his Account.
Company Deferrals. The Company Deferrals for a Participant, including one who begins participating in the middle of a Plan Year, are calculated by taking into account all Compensation paid to him during the entire Plan Year, including any incentive compensation paid during the Plan Year.
Company Deferrals. The Company shall cause to be credited to a Participant's Account for each Plan Year an amount equal to the difference between (i) the Company contributions (including both automatic and matching contributions) that would have been made on the Participant's behalf under Section 3.03 of the Retirement/Savings Plan for such Plan Year if the Participant's contributions under the Retirement/Savings Plan for such Plan Year had included the Deferred Contributions to this Plan, without taking into account restrictions imposed by the Code, including without limitation restrictions under Sections 401(a)(17), 401(k)(3), 401(m), 402(g) and 415(c); and (ii) Company contributions actually made on the Participant's behalf under Section 3.03 of the Retirement/Savings Plan. All such amounts shall be credited to the Participant's Account on or about the date or dates such amounts would have been credited to his account in the Retirement/Savings Plan if such amounts had in fact been credited to his account in the Retirement/Savings Plan.