Examples of Deferral Exception in a sentence
The holders of the Common Shares shall be entitled to receive notice of and attend (in person or by proxy) at all meetings of the shareholders of the Company (other than separate meetings of the holders of shares of any other class of shares of the Company or any series of shares of such other class of shares) and to vote at all such meetings with each holder of Common Shares being entitled to one vote per Common Share held at all such meetings.
To ensure compliance with the Short-Term Deferral Exception, most severance plans and agreements that intend to rely on it now specifically require payments to be completed on or before the relevant March 15th.
The Group has estimated that this risk did not require any particular hedging to guard against any increase in the variable rate.
Note that even if the arrangement requires payment on or before the relevant March 15th, the Short-Term Deferral Exception will not apply if payment actually occurs after that date (all may not be lost in this situation, at least not as long as payment is made by the end of that year – see comments below).
An arrangement need not include any specific language to qualify for the Short- Term Deferral Exception.