Treatment of Automatic Deferrals Clause Samples

The 'Treatment of Automatic Deferrals' clause defines how automatic postponements of obligations or deadlines are handled within an agreement. Typically, this clause outlines the circumstances under which certain payments, deliveries, or actions may be automatically deferred, such as in the event of a force majeure or other specified triggers. It may also specify the duration of the deferral and any conditions that must be met for the deferral to apply. The core function of this clause is to provide a clear framework for managing delays that occur automatically, thereby reducing uncertainty and potential disputes between parties when unforeseen events impact contractual timelines.
Treatment of Automatic Deferrals. ▇▇▇▇ or Pre-Tax. The Plan Administrator will treat Automatic Deferrals as Elective Deferrals for all purposes under the Plan, including application of limitations, nondiscrimination testing and distributions. If the Employer in its Adoption Agreement has elected to permit ▇▇▇▇ Deferrals, Automatic Deferrals are Pre-Tax Deferrals unless the Employer in Appendix B elects otherwise.
View SourceView Similar (3)
Treatment of Automatic Deferrals. Any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals, unless designated otherwise under this subsection (iii).  Any Salary Deferrals made pursuant to an automatic deferral election will be treated as ▇▇▇▇ Deferrals. [This subsection (iii) may only be checked if ▇▇▇▇ Deferrals are permitted under AA §6A-5.] [Note: Any Salary Deferral Election (including an election not to defer under the Plan) made after the effective date of the automatic deferral provisions will override such automatic deferral provisions. See Section 6.04(b)(1)(iii) of the Plan for the application of this provision to rehired Employees.]
View SourceView Similar (3)
Treatment of Automatic Deferrals. Any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals, unless designated otherwise under this subsection (iii). 🞎 Any Salary Deferrals made pursuant to an automatic deferral election will be treated as ▇▇▇▇ Deferrals. [Note: This subsection (iii) may only be checked if ▇▇▇▇ Deferrals are permitted under AA §6A-5.] 🞎 (iv) Expiration of affirmative deferral elections. Unless this subsection (iv) is elected, for purposes of the automatic deferral provisions of the Plan, a Participant’s affirmative elective deferral election will not expire. If this subsection (iv) is elected, a Participant’s affirmative deferral election will expire: 🞎 (A) at the end of each Plan Year.
View Source

Related to Treatment of Automatic Deferrals

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Timing of Reimbursements and In-kind Benefits If Executive is entitled to be paid or reimbursed for any taxable expenses under this Agreement, and such payments or reimbursements are includible in Executive’s federal gross taxable income, the amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred. No right of Executive to reimbursement of expenses under this Agreement shall be subject to liquidation or exchange for another benefit.

  • Limitations on Benefits It is the explicit intention of Purchaser and Seller that no person or entity other than Purchaser and Seller and their permitted successors and assigns is or shall be entitled to bring any action to enforce any provision of this Agreement against any of the parties hereto, and the covenants, undertakings and agreements set forth in this Agreement shall be solely for the benefit of, and shall be enforceable only by, Purchaser and Seller or their respective successors and assigns as permitted hereunder. Nothing contained in this Agreement shall under any circumstances whatsoever be deemed or construed, or be interpreted, as making any third party (including, without limitation, Broker or any Tenant) a beneficiary of any term or provision of this Agreement or any instrument or document delivered pursuant hereto, and Purchaser and Seller expressly reject any such intent, construction or interpretation of this Agreement.

  • Rollover Contributions and Transfers The Custodian shall have the right to receive rollover contributions and to receive direct transfers from other custodians or trustees. All contributions must be made in cash or check.

  • Discretionary Nature of Plan The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with the Company.