Deferred Payments definition
Examples of Deferred Payments in a sentence
Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit (as defined below) will not constitute Deferred Payments.
Notwithstanding anything herein to the contrary, if the Executive dies following the Executive’s separation from service, but prior to the six (6)-month anniversary of the separation from service, then any payments delayed in accordance with this Section 9(c)(ii) will be payable in a lump sum as soon as administratively practicable after the date of the Executive’s death and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit.
All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit.
In no event will the Executive have discretion to determine the taxable year of payment for any Deferred Payments.