Year of Deferral Clause Samples

Year of Deferral. (a) In the event that a suitable replacement cannot be hired for a teacher who has been granted a leave, the Board may defer the leave by one year. If a deferral is necessary, the teacher shall be notified prior to December 31st of the calendar year in which the leave was to take place. If a deferral is necessary, the teacher may choose to remain in the Plan, and any monies accumulated by the teacher shall be retained until the leave of absence. (b) In the event the teacher is, for personal reasons, unable to take the leave, the teacher may defer such leave for one (1) year. No deduction shall be made during the year of deferral.
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Related to Year of Deferral

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.