Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants on a reasonably consistent basis.
Appears in 53 contracts
Samples: Deferred Compensation Plan (Peoples Financial Services Corp.), Executive Supplemental Retirement Plan (LINKBANCORP, Inc.), Deferred Compensation Agreement (Peapack Gladstone Financial Corp)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants participants on a reasonably consistent basis.
Appears in 15 contracts
Samples: Deferred Compensation Agreement (Orrstown Financial Services Inc), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Oak Valley Bancorp)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants employees on a reasonably consistent basis.
Appears in 10 contracts
Samples: Supplemental Executive Retirement Agreement (Farmers & Merchants Bancshares, Inc.), 2022 Supplemental Executive Retirement Plan (CCFNB Bancorp Inc), Deferred Compensation Agreement (LINKBANCORP, Inc.)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event, provided that the delay in payment complies with all of the requirements of Treasury Regulation §1.409A-2(b)(7). The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants service providers on a reasonably consistent basis.
Appears in 7 contracts
Samples: Executive Deferred Compensation Agreement (Riverview Financial Corp), Deferred Compensation Agreement (Riverview Financial Corp), Executive Deferred Compensation Agreement (Riverview Financial Corp)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision invoking such a delay will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants employees on a reasonably consistent basis.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Community West Bancshares /), Salary Continuation Agreement (Community West Bancshares /), Salary Continuation Agreement (Community West Bancshares /)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as provided that the Employer treats all payments to similarly situated Participants individuals on a reasonably consistent basis.
Appears in 1 contract
Samples: Continuation Agreement (Central Valley Community Bancorp)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision such payment will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants on a reasonably consistent basis.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants individuals on a reasonably consistent basis.
Appears in 1 contract
Samples: Salary Continuation Agreement (Norwood Financial Corp)
