Common use of Right to Defer Clause in Contracts

Right to Defer. Mr. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇ elect to defer some or all of his bonus compensation and up to fifty percent (50%) of his base salary payable to him pursuant to this Employment Agreement. Any deferral of bonus compensation shall be irrevocable and must be requested by Mr. ▇▇▇▇▇▇▇▇▇▇ ▇▇ writing prior to the start of the fiscal year to which such bonus relates. Any deferral of base salary shall be irrevocable and must be requested by Mr. ▇▇▇▇▇▇▇▇▇▇ ▇▇ writing prior to the start of the fiscal year to which such salary relates. Any deferral of base compensation or bonus compensation for fiscal year 2000 shall be made in accordance with procedures established by the Company. An election for a given fiscal year shall be deemed a continuing election for each subsequent fiscal year, unless a subsequent written election to defer (or not to defer) is provided to the Company by Mr. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇or to the start of such fiscal year.

Right to Defer. Mr. ▇▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇ may elect to defer some or all of his bonus compensation and up to fifty percent (50%) of his base salary payable to him pursuant to this Employment Agreement. Any deferral of bonus compensation shall be irrevocable and must be requested by Mr. ▇▇. ▇▇▇▇▇▇▇▇▇ ▇▇ in writing prior to the start of the fiscal year to which such bonus relates. Any deferral of base salary shall be irrevocable and must be requested by Mr. ▇▇. ▇▇▇▇▇▇▇▇▇ ▇▇ in writing prior to the start of the fiscal year to which such salary relates. Any deferral of base compensation or bonus compensation for fiscal year 2000 1999 shall be made in accordance with procedures established by the Company. An election for a given fiscal year shall be deemed a continuing election for each subsequent fiscal year, unless a subsequent written election to defer (or not to defer) is provided to the Company by Mr. ▇▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇or prior to the start of such fiscal year.