Common use of Deferred Salary Clause in Contracts

Deferred Salary. a. It is desired to establish for the benefit of employees of the Board a plan to enable them to fund leaves of absence from employment of not less than 6 consecutive months through deferral of salary on such terms as may be set out in this agreement. b. It is intended that such plans qualify as "prescribed plans" within the meaning of Regulation 6801 of the Income Tax Act (Canada).

Deferred Salary. a. It is desired to establish for the benefit of employees of the Board a plan to enable them to fund leaves of absence from employment of not less than 6 consecutive months through deferral of salary on such terms as may be set out in this agreementthisagreement. b. It is intended that such plans qualify as "prescribed plans" within the meaning of Regulation 6801 of the Income Tax Act (Canada).