Common use of Deferral of Payments Clause in Contracts

Deferral of Payments. The Company shall defer the payment of 50% of bonus compensation, other than Holiday Bonus, that may be awarded to the Executive by the Company from and after the date of this Agreement through the end of calendar year 2003. The Executive acknowledges that the Company is under no obligation to award any bonus to the Executive and that the award of any bonus, as well as the amount of any bonus that may be awarded, remains fully discretionary with the Company.

Deferral of Payments. The Company shall defer the payment of 50% of all bonus compensation, other than Holiday Bonus, compensation that may be awarded to the Executive by the Company from and after for the date of this Agreement through the end of calendar year 20032000. The Executive acknowledges that the Company is under no obligation to award any bonus to the Executive and that the award of any bonus, as well as the amount of any bonus that may be awarded, remains fully discretionary with the Company.

Deferral of Payments. The Company shall defer the payment of 50% of bonus compensation, other than Holiday Bonus, compensation that may be awarded to the Executive by the Company from and after the date of this Agreement through the end of calendar year 20032001. The Executive acknowledges that the Company is under no obligation to award any bonus to the Executive and that the award of any bonus, as well as the amount of any bonus that may be awarded, remains fully discretionary with the Company.

Deferral of Payments. The Company shall defer the payment of 50% of bonus compensation, other than Holiday Bonus, that may be awarded to the Executive by the Company from and after the date of this Agreement through the end of calendar year 20032002. The Executive acknowledges that the Company is under no obligation to award any bonus to the Executive and that the award of any bonus, as well as the amount of any bonus that may be awarded, remains fully discretionary with the Company.

Deferral of Payments. The Company shall defer the payment of 50% of all bonus compensation, other than Holiday Bonus, that may be awarded to the Executive by the Company from and after for the date of this Agreement through the end of calendar year 20032001. The Executive acknowledges that the Company is under no obligation to award any bonus to the Executive and that the award of any bonus, as well as the amount of any bonus that may be awarded, remains fully discretionary with the Company.