Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated participants on a reasonably consistent basis.
Appears in 10 contracts
Samples: Supplemental Executive Retirement Plan (MUNCY COLUMBIA FINANCIAL Corp), Supplemental Executive Retirement Plan (PB Bankshares, Inc.), Supplemental Executive Retirement Plan (PB Bankshares, Inc.)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated participants Participants on a reasonably consistent basis.
Appears in 5 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Emclaire Financial Corp), Supplemental Executive Retirement Plan (Eureka Homestead Bancorp, Inc.), Supplemental Executive Retirement Plan (Eureka Homestead Bancorp, Inc.)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated participants employees on a reasonably consistent basis.
Appears in 4 contracts
Samples: Salary Continuation Agreement (First Clover Leaf Financial Corp.), Salary Continuation Agreement (First Clover Leaf Financial Corp.), Salary Continuation Agreement (First Clover Leaf Financial Corp.)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event, provided that the delay in payment complies with all of the requirements of Treasury Regulation §1.409A-2(b)(7). The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated participants service providers on a reasonably consistent basis.
Appears in 2 contracts
Samples: Executive Deferred Compensation Agreement (Riverview Financial Corp), Deferred Compensation Agreement (Riverview Financial Corp)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision invoking such a delay will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated participants employees on a reasonably consistent basis.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Community West Bancshares /), Salary Continuation Agreement (Community West Bancshares /)
Delays in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute a subsequent deferral election, so long as provided that the Employer treats all payments to similarly situated participants individuals on a reasonably consistent basis.
Appears in 1 contract
Samples: Salary Continuation Agreement (Central Valley Community Bancorp)
