Tax Deferral Programs Sample Clauses

A Tax Deferral Programs clause outlines the terms under which parties may postpone the payment of certain taxes related to a transaction or ongoing business activity. Typically, this clause specifies which taxes are eligible for deferral, the conditions that must be met to qualify, and any reporting or documentation requirements. By providing a structured way to delay tax payments, the clause helps manage cash flow and ensures compliance with relevant tax laws while reducing immediate financial burdens.
Tax Deferral Programs. Borrower shall not participate in a real estate tax deferral program, if any liens created by the tax deferral are not subordinate to this Security Instrument.
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Tax Deferral Programs. The District shall provide the option for employees to participate in a 403(b) and a 457(b) offered by any of six (6) tax-deferred investment programs approved in writing by the Spring-Ford Area School District. The District's only obligation under this provision shall consist of making payroll deductions as authorized in writing by the employee and remitting the amounts deducted to the tax deferred investment program selected by the employee. The District does not warrant, on either a current or future basis, that the plan or plans selected by the employee or the contributions made are either non-taxable or eligible for the tax deferral under any provision of law. A request for payroll deduction filed with the Business Office before the tenth of the preceding month will be incorporated in payroll procedures to effect enrollment or changes in enrollment in the plan or plans selected. Nothing in this Agreement shall confer any form of collective bargaining rights on the Spring-Ford Principals and Administrators Association, nor shall the Spring-Ford Principals and Administrators Association be deemed to have a right to strike, or a right to file grievances pursuant to the Public Employee Relations Act or pursuant to the Public School Code of 1949, as amended. All areas not specifically addressed and/or identified in this plan shall be followed as set forth in the Spring-Ford Area School District Board Approved Policy Manual.
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Related to Tax Deferral Programs

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.