{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "to-executive", "type": "definition", "offset": [79, 91]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [133, 159]}, {"key": "other-severance-payments", "type": "clause", "offset": [168, 192]}, {"key": "separation-benefits", "type": "definition", "offset": [196, 215]}, {"key": "each-case", "type": "definition", "offset": [302, 311]}, {"key": "deferred-compensation", "type": "definition", "offset": [354, 375]}, {"key": "section-409a", "type": "definition", "offset": [382, 394]}], "samples": [{"hash": "eMupvbscXuT", "uri": "/contracts/eMupvbscXuT#deferred-payments", "label": "Employment Agreement (Palladyne AI Corp.)", "score": 36.3456535339, "published": true}, {"hash": "4EKEnmcDsuT", "uri": "/contracts/4EKEnmcDsuT#deferred-payments", "label": "Employment Agreement (Sarcos Technology & Robotics Corp)", "score": 35.1765899658, "published": true}, {"hash": "80SpnjBEpqI", "uri": 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We will not defer a Distribution for more than seven days, except\n1. for any period (A) during which the New York Stock Exchange is closed other than customary week-end and holiday closings or (B) during which trading on the New York Stock Exchange is restricted;\n2. for any period during which an emergency exists as a result of which (A) disposal of securities owned by the Separate Account is not reasonably practicable or (B) it is not reasonably practicable for the Separate Account to determine the value of its net assets; or\n3. for such other periods as the Commission may permit. We will only defer the payment within the time permitted by applicable law. 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Notwithstanding anything in this Agreement or elsewhere to the contrary:\n(a) If payment or provision of any amount or other benefit that is \"deferred compensation\" subject to Section 409A of the Code at the time otherwise specified in this Agreement or elsewhere would subject such amount or benefit to additional tax pursuant to Section 409A(a)(1)(B) of the Code, and if payment or provision thereof at a later date would avoid any such additional tax, then the payment or provision thereof shall be postponed to the earliest date on which such amount or benefit can be paid or provided without incurring any such additional tax. In the event this Section requires a deferral of any payment, such payment shall be accumulated and paid in a single lump sum on such earliest date together with interest for the period of delay, compounded annually, equal to the prime rate (as published in The Wall Street Journal), and in effect as of the date the payment should otherwise have been provided.\n(b) If any payment or benefit permitted or required under this Agreement, or otherwise, is reasonably determined by either party to be subject for any reason to a material risk of additional tax pursuant to Section 409A(a)(1)(B) of the Code, then the parties shall promptly agree in good faith on appropriate provisions to avoid such risk without materially changing the economic value of this Agreement to either party.", "size": 9, "hash": "64268faffb39260b3621cde9e9771f72", "id": 7}, {"snippet_links": [{"key": "termination-of-the-executive", "type": "definition", "offset": [15, 43]}, {"key": "payments-to-be-made", "type": 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"related_snippets": [], "updated": "2026-04-09T07:00:44+00:00", "also_ask": ["What key protections should be included to secure deferred payment obligations?", "How can deferred payment terms be structured to maximize leverage in negotiations?", "What are the most common enforceability challenges for deferred payment clauses in court?", "How do deferred payment provisions differ across jurisdictions or industries?", "What are the critical risks if default or insolvency occurs before full payment is made?"], "drafting_tip": "Specify payment schedule and conditions to prevent disputes; define interest or penalties for late payments to incentivize timely fulfillment; clarify triggering events for deferral to ensure enforceability.", "explanation": "The Deferred Payments clause establishes that certain payments owed under the agreement will be postponed to a later date rather than being due immediately. Typically, this clause outlines the specific conditions under which payment is delayed, such as upon completion of a milestone or after a set period, and may specify interest or penalties for late payment. Its core practical function is to provide flexibility in cash flow management for the paying party while ensuring the receiving party has clarity on when to expect payment."}, "json": true, "cursor": ""}}