Maximum Deferral Amount Clause Samples
The Maximum Deferral Amount clause sets a cap on the total amount of payments or obligations that can be postponed under an agreement. In practice, this means that if a party is allowed to defer payments, they may only do so up to a specified monetary limit or percentage, beyond which further deferral is not permitted. This clause ensures that deferrals remain within manageable bounds, protecting the other party from excessive delays in receiving payment and maintaining financial predictability.
Maximum Deferral Amount. In no event shall a Participant’s Annual Earnings in any calendar year be reduced by a salary reduction agreement under (1) above (and under all other plans, contracts or arrangements of the Employer which allow elective deferrals within the meaning of section 402(g)(3) of the Code) in an amount greater than the maximum amount that may be contributed as an elective deferral for any calendar year under section 402(g) of the Code. This amount may be adjusted by the Secretary of Treasury under section 402(g)(5) of the Code for cost of living adjustments. The maximum amount that may be deferred for the calendar year beginning January 1, 2002 is $11,000.
Maximum Deferral Amount. Except as provided in Section 4.04,
Maximum Deferral Amount. The maximum amount of Deferred Compensation that an Employee may defer into the Plan as set forth in the Adoption Agreement. The Maximum Deferral Amount may be expressed as a fixed number and/or a percentage of Includible Compensation.