Examples of Deferral Exception in a sentence
Application of Short-Term Deferral Exception to Matching Shares a) Calculation of Matching Shares Upon Termination of Participation Before the End of the Lock-in Period.
To the extent permissible under Section 409A of the Code, any series of installment payments under the Plan shall be treated as a “right to a series of separate payments.” (c)Short-Term Deferral Exception.
Notwithstanding anything in this Plan to the contrary, no Severance Payments shall be made during the first six (6) months following the Termination Date, unless such payments qualify for the Short-Term Deferral Exception or the Separation Pay Exception referred to in Article V, Paragraph 4.(c) and 4.(d) of this Plan.
The Separation Pay Plan Exception shall be applied, first, to any installments payable within six months after Separation from Service that does not otherwise qualify for the Short-Term Deferral Exception and, next, to the latest installments payable within the permitted payment period for this exception.