Common use of Deferred Compensation Program Clause in Contracts

Deferred Compensation Program. ‌ The City shall allow commanding officers to participate in a City Deferred Compensation Program that is currently available to employees. However, if the program is determined not to be allowable as a tax deferral under the Internal Revenue Code, the participating commanding officer shall hold the City and the Association harmless against any and all claims, demands, or other forms of liability arising as a result of any invalidation of the terms and conditions of the Program.

Deferred Compensation Program. ‌ The City shall allow commanding officers to participate in a City Deferred Compensation Program that is currently available to employees. However, if the program is determined not to be allowable as a tax deferral under the Internal Revenue Code, the participating commanding officer shall hold the City and the Association harmless against any and all claims, demands, or other forms of liability arising as a result of any invalidation of the terms and conditions of the Program.