MAXIMUM DEFERRAL Clause Samples
The Maximum Deferral clause sets a clear limit on how long a party can postpone fulfilling a specific obligation, such as payment or delivery, under a contract. In practice, this clause might specify that any deferred payment or performance cannot be delayed beyond a certain number of days, regardless of circumstances that might otherwise justify a delay. Its core function is to provide certainty and prevent indefinite postponement, ensuring that both parties have a clear understanding of the latest possible date by which obligations must be met.
MAXIMUM DEFERRAL. The maximum amount of Compensation that may be deferred shall be no more than seventy-five percent (75%) of base salary and one hundred percent (100%) of annual bonus or incentive compensation.
MAXIMUM DEFERRAL. The maximum amount of Directors' Fees which a Participant may defer under this Plan for any Year is 100% of the Participant's Directors' Fees for such Year.
MAXIMUM DEFERRAL. Participants Age 50 or Over. The maximum deferral amount described in subparagraph (b) is increased for Employees who have attained age 50 or over by the end of the taxable year. The additional amount permitted under this subparagraph is the lesser of (1) the applicable dollar amount set forth in Section 414(v)(2)(B) or (2) the Employee’s Compensation for the taxable year reduced by any other elective deferrals by the Employee to the Plan for the taxable year. This subparagraph shall not be applicable for any taxable year in which subparagraph (d) applies.
MAXIMUM DEFERRAL. The maximum amount the Executive may defer into the Plan is set forth on the Election Form, and shall be a percentage of the Executive's Base Salary and a percentage of the Executive's Bonus.
MAXIMUM DEFERRAL. Except as provided in paragraph 14, the following limitations shall apply: In no event shall the annual deferral amount for any Participant’s taxable year exceed the lesser of: (i) the applicable dollar amount specified in IRC Section 457(e)(15) is $15,500 for 2007; and thereafter as adjusted for inflation under IRC Section 415(d); or (ii) 100 percent of includible compensation for services performed for Employer.