Common use of Deferral of Payments Clause in Contracts

Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Section 162(m) of the Code, exceeds the limitations on deductibility under Section 162(m) of the Code, such payment will, in the discretion of inTEST, be deferred to the next succeeding calendar year. Such deferred amounts will be paid no later than the 60th day after the end of such next succeeding calendar year, provided that such payment, when combined with any other payments subject to the Section 162(m) limitations received during the year, does not exceed the limitations on deductibility under Section 162(m) of the Code. If you would like to participate in this special benefits program, please sign and return the extra copy of this letter which is enclosed. Sincerely, /s/ Xxxx X. Xxxx Xxxx X. Xxxx Chairman of the Board ACCEPTANCE I hereby accept the offer to participate in this special benefits program and I agree to be bound by all of the provisions noted above.

Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Section 162(m) of the Code, exceeds the limitations on deductibility under Section 162(m) of the Code, such payment will, in the discretion of inTEST, be deferred to the next succeeding calendar year. Such deferred amounts will be paid no later than the 60th day after the end of such next succeeding calendar year, provided that such payment, when combined with any other payments subject to the Section 162(m) limitations received during the year, does not exceed the limitations on deductibility under Section 162(m) of the Code. If you would like to participate in this special benefits program, please sign and return the extra copy of this letter which is enclosed. Sincerely, /s/ Xxxx X. Xxxx Xxxx X. Xxxx Chairman of the Board ACCEPTANCE I hereby accept the offer to participate in this special benefits program and I agree to be bound by all of the provisions noted above.. /s/Xxxxxx X. Xxxxxxxxxxx Xxxxxx X. Xxxxxxxxxxx Dated: April 17, 2001

Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Section 162(m) of the Code, exceeds the limitations on deductibility under Section 162(m) of the Code, such payment will, in the discretion of inTEST, be deferred to the next succeeding calendar year. Such deferred amounts will be paid no later than the 60th day after the end of such next succeeding calendar year, provided that such payment, when combined with any other payments subject to the Section 162(m) limitations received during the year, does not exceed the limitations on deductibility under Section 162(m) of the Code. If you would like to participate in this special benefits program, please sign and return the extra copy of this letter which is enclosed. Sincerely, /s/ Xxxx Xxxxxx X. Xxxx Xxxx Xxxxxxxxxxx Xxxxxx X. Xxxx Chairman of the Board Xxxxxxxxxxx President and Chief Executive Officer ACCEPTANCE I hereby accept the offer to participate in this special benefits program and I agree to be bound by all of the provisions noted above.. /s/ Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx

Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Section 162(m) of the Code, exceeds the limitations on deductibility under Section 162(m) of the Code, such payment will, in the discretion of inTEST, be deferred to the next succeeding calendar year. Such deferred amounts will be paid no later than the 60th day after the end of such next succeeding calendar year, provided that such payment, when combined with any other payments subject to the Section 162(m) limitations received during the year, does not exceed the limitations on deductibility under Section 162(m) of the Code. If you would like to participate in this special benefits program, please sign and return the extra copy of this letter which is enclosed. Sincerely, /s/ Xxxx Xxxxxx X. Xxxx Xxxx Xxxxxxxxxxx Xxxxxx X. Xxxx Chairman of the Board Xxxxxxxxxxx President and Chief Executive Officer ACCEPTANCE I hereby accept the offer to participate in this special benefits program and I agree to be bound by all of the provisions noted above.. /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx

Deferral of Payments. To the extent that any payment under this Agreement, when combined with all other payments received during the year that are subject to the limitations on deductibility under Section 162(m) of the Code, exceeds the limitations on deductibility under Section 162(m) of the Code, such payment will, in the discretion of inTEST, be deferred to the next succeeding calendar year. Such deferred amounts will be paid no later than the 60th day after the end of such next succeeding calendar year, provided that such payment, when combined with any other payments subject to the Section 162(m) limitations received during the year, does not exceed the limitations on deductibility under Section 162(m) of the Code. If you would like to participate in this special benefits program, please sign and return the extra copy of this letter which is enclosed. Sincerely, /s/ Xxxx Xxxxxx X. Xxxx Xxxx Xxxxxxxxxxx Xxxxxx X. Xxxx Chairman of the Board Xxxxxxxxxxx President and Chief Executive Officer ACCEPTANCE I hereby accept the offer to participate in this special benefits program and I agree to be bound by all of the provisions noted above.. /s/ Xxxxx Xxxxxx Xxxxx Xxxxxx