Short-Term Deferrals Sample Clauses
The Short-Term Deferrals clause allows parties to temporarily postpone certain obligations or deadlines under the agreement for a limited period. Typically, this clause outlines the specific conditions under which a deferral can be requested, such as unforeseen circumstances or operational delays, and sets a maximum duration for the deferral. Its core practical function is to provide flexibility in contract performance, helping parties manage short-term disruptions without breaching the agreement.
POPULAR SAMPLE Copied 1 times
Short-Term Deferrals. To the extent any payment under this Agreement is intended to qualify for the short-term deferral exception under Section 409A, such payment will be made no later than the later of (a) the 15th day of the third month following the end of the Executive’s first taxable year in which the right to the payment is no longer subject to a substantial risk of forfeiture, or (b) the 15th day of the third month following the end of the Company’s first taxable year in which the right to the payment is no longer subject to a substantial risk of forfeiture.
Short-Term Deferrals. It is intended that payments made under this Agreement due to Executive’s termination of employment that are not otherwise subject to Code section 409A, and which are paid on or before the 15th day of the third month following the end of Executive’s taxable year in which his termination of employment occurs, shall be exempt from compliance with Code section 409A pursuant to the exemption for short-term deferrals set forth in Treasury Regulation section 1.409A-1(b)(4).
Short-Term Deferrals. The Option is intended to qualify under Treasury Regulation Section 1.409A-1(b)(5)(i) as a "non-statutory stock option not providing for the deferral of compensation." This Award Agreement shall be interpreted consistently with that intent. For purposes of Code Section 409A, all payments under or with respect to the Option are hereby designated as separate payments from any other payments or benefits to which the Participant is entitled (whether under the Plan, any other agreement, or any non-qualified deferred compensation or arrangement to which the Participant is a party or in which the Participant is a participant). In no event shall the Participant have any right to defer the receipt of Shares upon exercise of the Option or any right to a deferred payment in exchange for the Option.
Short-Term Deferrals. It is intended that payments made under this Agreement due to Sands’ termination of employment that are not otherwise subject to Code section 409A, and which are paid on or before the 15th day of the third month following the end of Sands’ taxable year in which his termination of employment occurs, shall be exempt from compliance with Code section 409A pursuant to the exemption for short-term deferrals set forth in Treasury Regulation section 1.409A-1(b)(4).
Short-Term Deferrals. For each Award intended to comply with the short-term deferral exception provided for under Section 409A, the related Award Agreement shall provide that such Award shall be paid out by the later of (i) the 15th day of the third month following the Grantee’s first taxable year in which the Award is no longer subject to a substantial risk of forfeiture or
Short-Term Deferrals. It is intended that payments made under this Agreement due to Herbes’ termination of employment that are not otherwise subject to Code section 409A, and which are paid on or before the 15th day of the third month following the end of Herbes’ taxable year in which his termination of employment occurs, shall be exempt from compliance with Code section 409A pursuant to the exemption for short-term deferrals set forth in Treasury Regulation section 1.409A-1(b)(4).