Election to Defer Payment Clause Samples

The Election to Defer Payment clause allows a party to postpone making a payment that would otherwise be due under the agreement. Typically, this clause outlines the conditions under which deferral is permitted, such as providing written notice or meeting certain financial criteria, and may specify a new payment schedule or the accrual of interest during the deferral period. Its core practical function is to provide flexibility in managing cash flow or responding to unforeseen financial difficulties, thereby reducing the risk of default and offering a structured way to handle payment delays.
Election to Defer Payment. Notwithstanding paragraph 3(a), at the discretion of the Committee and in accordance with the Plan, Code Section 409A and such rules established by the Committee, the Director may elect to further defer delivery of the proceeds due with respect to his or her vested Stock Units by properly completing and submitting a Stock Unit Deferral Election Form (the “Election Form”) to the Company in accordance with the directions on the Election Form and the procedures established by the Committee.
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Election to Defer Payment. Upon entering into this Agreement and for a period of fourteen (14) days following each anniversary of the date hereof (the "Election Period"), the Employee may, in writing, direct the Company that any amounts which become payable to the Employee pursuant to Paragraphs (a), (c) and (d), above, shall be paid to the Employee in three (3) equal annual installments, with the first of such installments to be paid not later than five (5) business days after the Date of Termination and successive installments paid on the next two (2) succeeding anniversaries of the Date of Termination or the next following business day if such date is not a business day (the "Deferred Payment Election"). A Deferred Payment election, once made, shall be irrevocable except during an Election Period.
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Election to Defer Payment. I hereby elect to have % (enter a whole percentage between 1% and 100%; if less than 100%, the number of Shares deferred will be rounded up to the next whole Share) of any Shares (and any related dividend equivalents) otherwise payable to me in 20 paid to me at the following time: On [the earli[er][est] of]:
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Election to Defer Payment. (a) Subject to Section 3.3(b), the Grantee may irrevocably elect to defer payment of Restricted Share Units under Section 3.1 to either: (i) the date of the Grantee’s termination of employment; or (ii) a date specified by the Grantee. (b) All deferral elections made by the Grantee pursuant to this Section 3.3 shall be made in accordance with (i) the applicable election form provided by the Committee and (ii) Section 409A of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). If the Grantee does not timely elect to defer the Restricted Share Units pursuant to this Section 3.3, then such shares shall be paid to Grantee in accordance with Section 3.1(a) or (b) of this Restricted Share Unit Agreement. If the Grantee elects to defer payment of Restricted Share Units to termination of employment, or if this Restricted Share Unit Agreement constitutes a “deferral of compensation” under Section 409A of the Code for any other reason, and at that time the Grantee is a specified employee as determined under Section 1.409A-1(i) of the Treasury Regulations and any of the Company’s stock is publicly traded on an established securities market or otherwise at such time, then the delivery of vested Restricted Share Units shall not be made until the earlier of the Grantee’s death or the first day of the seventh month following the Grantee’s termination of employment (without interest for the delay in payment) in accordance with Section 409A(a)(2)(B)(i) of the Code. (c) If the Grantee elects to defer payment to a specific date under paragraph (a) above and the Grantee should die prior to such specified date, then payment of the Grantee’s vested Restricted Share Units shall be paid within 30 days of the Grantee’s death, with the payment date determined by the Company in its sole discretion, to the Grantee’s designated beneficiary and if the Grantee has not designated a beneficiary then to the Grantee’s estate.
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Election to Defer Payment. If a Participant has separated from service with the Employer and all Affiliates and the nonforfeitable portion of the Participant's Account is (or at the time of any prior distribution was) more than $3500, the Participant may defer distribution of that nonforfeitable portion, but in no event beyond (1) Standard Option - the Participant's Required Beginning Date (as defined in section 11). 9.1 (e) (2) Alternative - if so specified in the Adoption Agreement, the later of the Participant's Normal Retirement Age or age 62. The failure of a Participant and his or her Spouse, if applicable, to consent to a distribution or make a written request to defer payment while a benefit is immediately distributable (within the meaning of section 9.3) shall be deemed to be an election to defer commencement of payment of any benefit under this section 9 until the benefit is no longer immediately distributable or, if section 9.1(e)(1) applies, until the Required Beginning Date. Nothing in this section 9.1(e) shall prevent the Plan Administrator from paying in the normal form a benefit which is not immediately distributable without regard to whether the Participant and his or her Spouse consent to such distribution, unless the Participant has requested a deferral pursuant to section 9.1(e)(2).
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Election to Defer Payment. The Participant shall have the right to elect a deferral of the timing of payment to be made with respect to the Participant’s RSUs. Any such election shall be made not later than the date hereof an shall be irrevocable when made. The terms of such deferral shall be in accordance with the elections of the Participant set forth on the “RSU Deferral Election Form” attached as Exhibit A to this Award Agreement. In the event that the RSUs become payable as a result of an accelerated vesting and payment date under Section 3 hereof, the terms thereof shall apply and the RSUs shall become payable in accordance therewith in lieu of any deferral payment election.
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Election to Defer Payment. (a) Subject to Section 3.3(b), the Grantee may irrevocably elect to defer payment of Restricted Share Units under Section 3.1 to either: (i) the date of the Grantee’s termination of employment; or (ii) a date specified by the Grantee. (b) The Grantee’s election under paragraph (a) above shall be made in such manner and at such time as required by the Company and shall apply to all Restricted Share Units granted hereunder. If the Grantee elects to defer payment of Restricted Share Units to termination of employment and at that time the Grantee is a key employee (as defined in Section 416(i) of the Internal Revenue Code without regard to paragraph (5) thereof) and any of the Company’s stock is publicly traded on an established securities market or otherwise, then the payment of vested Restricted Share Units shall not be paid until the sixth month anniversary of Employee’s termination of employment (without interest for the delay in payment). (c) If the Grantee elects to defer payment to a specific date under paragraph (a) above and the Grantee should die prior to such specified date, then payment of the Grantee’s vested Restricted Share Units shall be paid upon his death to the Grantee’s designated beneficiary and if the Grantee has not designated a beneficiary then to the Grantee’s estate.
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Election to Defer Payment. I hereby elect to have % (enter a whole percentage between 1% and 100%; if less than 100% the number of Shares deferred will be rounded up to the next whole share) of the Shares (and any related dividend equivalents, if any, to the extent specified in Section 3 of the Agreement) paid to me at the following time: On [the earli[er][est] of]: o ____________ ______, 20___) [[or][,] o The first day of January following my separation from service with the Company’s Board of Directors [or] o The date of the occurrence of a “change in ownership or effective control” (as defined under Section 409A of the Internal Revenue Code) of the Company. Participant: ACKNOWLEDGED Print Name: , for Chart Industries, Inc. Date:
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Election to Defer Payment. If a Participant has separated from service with the Employer and all Affiliates and the nonforfeitable portion of the Participant's Account is (or at the time of any prior distribution was) more than $3500, the Participant may defer distribution of that nonforfeitable portion, but in no event beyond
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Related to Election to Defer Payment

  • Section 83(b) Election The Grantee may make an election under Code Section 83(b) (a “Section 83(b) Election”) with respect to the Restricted Stock. Any such election must be made within thirty (30) days after the Grant Date. If the Grantee elects to make a Section 83(b) Election, the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The Grantee agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.

  • Election to Purchase (To Be Executed Upon Exercise of Warrant)

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • 83(b) Election You may make and file with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the grant of the Restricted Shares hereunder, electing to include in your gross income as of the Grant Date the Fair Market Value of the Restricted Shares as of the Grant Date. You shall promptly provide a copy of such election to the Company. If you make and file such an election, you shall make such arrangements in accordance with Section 8 as are satisfactory to the Committee to provide for the timely payment of all applicable withholding taxes.

  • FORM OF ELECTION TO PURCHASE (To be executed if holder desires to exercise Rights represented by the Rights Certificate.) To: ▇▇▇▇▇▇ GREETINGS, INC. The undersigned hereby irrevocably elects to exercise _____________________________ Rights represented by this Rights Certificate to purchase the shares of Preferred Stock issuable upon the exercise of the Rights (or such other securities of the Company or of any other person which may be issuable upon the exercise of the Rights) and requests that certificates for such shares be issued in the name of and delivered to: Please insert social security or other identifying number ________________________________________________________________ (Please print name and address) ________________________________________________________________ If such number of Rights shall not be all the Rights evidenced by this Rights Certificate, a new Rights Certificate for the balance of such Rights shall be registered in the name of and delivered to: Please insert social security or other identifying number _________________________________________________________________ (Please print name and address) Dated:___________________, ____ ___________________________________ Signature Signature Guaranteed: Certificate ___________ The undersigned hereby certifies by checking the appropriate boxes that: