Deferred Compensation Payment Sample Clauses

A Deferred Compensation Payment clause establishes the terms under which an employee or contractor will receive compensation at a later date rather than immediately upon earning it. Typically, this clause outlines the schedule for future payments, conditions that must be met before payment is made, and any interest or penalties that may apply if payment is delayed. Its core practical function is to provide a clear framework for postponing compensation, which can help employers manage cash flow and offer employees or contractors tax planning opportunities.
Deferred Compensation Payment. Total Deferred compensation amount shall be paid at earliest possible opportunity or upon the occurrence of any Event from 2.1 “Compensation” and including any of the following: A. The sale of substantially all of the Employer's assets to a single purchaser or group of associated purchasers; or B. The sale, exchange, or other disposition, in one transaction of the majority of the Employer's outstanding corporate shares; or C. Any other change of control of the Employer; or D. The Employer's decision to terminate its business and liquidate its assets; or E. The merger or consolidation of the Employer with another company; or F. Bankruptcy or chapter 11 reorganization; or G. Once 12 mo revenue run rate reaches $5 mil.; or H. Upon payment terms agreeable to employee; or I. Termination of employment; or J. Attempted or successful demotion of employee in any way Employee shall have two payment options for payment of the deferred compensation amount with the total amount paid equaling either the total deferred salary due plus an annual interest rate of prime + 8%, OR 5 shares for every dollar owed.
View SourceView Similar (6)
Deferred Compensation Payment. Prior to December 1, 2003, the Company hereby agrees to pay to you in satisfaction of your expected accrued and vested account balances as of the Effective Time under each of the First Federal Savings Bank of America Supplemental Executive Retirement Plan, the First Federal Savings Bank of America Incentive Award and Salary Deferral Plan, Amended and Restated Deferred Compensation Plan for Executives of First Federal Savings Bank of America and each other non-qualified plan of the Company and its affiliates (the "Deferred Compensation Plans"), in the amount set forth on Exhibit A hereto. You hereby agree and acknowledge that, after such payment is made to you, the Parent, the Company Bank, the Company and their affiliates shall have no further payment obligations to you or for your benefit whatsoever under the Deferred Compensation Plans and your participation in such plans shall cease immediately. For the avoidance of doubt, and notwithstanding anything herein to the contrary, the payment described in this paragraph shall not be taken into account in computing any benefits under any plan, program or arrangement of the Parent, the Company Bank, the Company or their affiliates.
View SourceView Similar (2)
Deferred Compensation Payment. On the Effective Date, the Company shall pay or cause to be paid to Executive, in cash or other readily available funds, the sum of Two Hundred Ten Thousand Four Hundred Fifty Six Dollars and Ninety Five Cents ($210,456.95), less any amounts required to be deducted by the Company for federal and state taxes or other applicable requirements, which amount represents the full amount of deferred compensation, inclusive of all accrued interest that Executive is entitled to receive under the terms of the Company's Deferred Compensation Plan, as calculated pursuant to the crediting rate methodology.
View SourceView Similar (2)
Deferred Compensation Payment. In recognition of the Executive’s past and continuing service to the Company, the Company agrees to pay to the Executive, subject to all required tax withholdings, up to $300,000, subject to vesting as follows: (i) if the Executive is employed by the Company as of January 1, 2023, $100,000 shall become vested. (ii) if the Executive is employed by the Company as of January 1, 2024, an additional $100,000 shall become vested; and (iii) if the Executive is employed by the Company as of January 1, 2025, an additional $100,000 shall become vested. All vested amounts hereunder shall be payable to the Executive, subject to all required tax withholdings, on the earlier of (x) thirty (30) days following the termination of the Executive’s employment with the Company, or (y) January 31, 2025. Any unvested portion shall be deemed forfeited, and there shall be no partial or pro rata vesting for partial years of employment.
View Source
Deferred Compensation Payment. Upon the occurrence of a Change of Control, the Participant may elect, within 30 days after the Change of Control, to receive a lump sum benefit payment equal to the total amount that the Participant was entitled to receive under the Compensation Plan as of the date of the Change of Control. The lump sum benefit shall be the lump sum actuarial equivalent of a single life annuity (with a 10-year certain term) payable over the lifetime of the Participant and will be calculated using the actuarial assumptions used for FAS 87 purposes in the most recently audited annual report and will be discounted to the net present value (using a discount rate equal to the Prime Rate in effect on the date of the Change of Control plus 1.0%). The lump sum benefit payment shall not be discounted due to commencement prior to reaching age 65. This Section 1 is intended to override any provision of the Compensation Plan that would otherwise cause Participant to receive an amount which is less that what is provided for herein. This payment is in full satisfaction of Dura's obligations to Participant under the Compensation Plan and with respect to any provisions in other agreements which provide for recognition of enhanced service under the Compensation Plan.
View Source
Deferred Compensation Payment. Sixty (60) days after Executive’s termination of employment by either party for any reason or for no reason, the Company shall pay Executive a lump sum payment equal to Four Million Eight Hundred Thousand Dollars ($4,800,000) (the “Deferred Payment”), less normal withholdings and deductions. Notwithstanding the foregoing, the timing of the payment of the Deferred Payment shall be subject to Section 5 below.
View Source
Deferred Compensation Payment. Employee shall also receive payment in full of amounts owed pursuant to his participation in the Debtors’ 401(k) Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Payment”). The Deferred Compensation Payment will be determined as of the date the Bankruptcy Court enters an order approving this Agreement and is expected to be in the approximate amount of $215,985.33.
View Source
Deferred Compensation Payment 
View Source

Related to Deferred Compensation Payment

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • 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.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • 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.

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.