ADDITIONS TO DEFERRED AMOUNTS. The Bank hereby agrees that it will credit Deferred Amounts in Pankuch's Retirement Accxxxx xxxx additions thereon ("Additions") from and after the dates Deferred Amounts are credited to the Retirement Account, subject to the limitations herein set forth. Additions to Deferred Amounts, calculated at the rate of eight percent (8%) per annum, compounded annually at the end of each Fiscal Year, shall accrue commencing on the date the Retirement Account first has a positive balance and shall continue until the first of the following events to occur:
(a) The date that Death Benefits as described in paragraph 7(b) hereof, Retirement Benefits, or Disability Benefits, whichever applies, end hereunder; or
(b) The date on which Death Benefits as described in paragraph 7(a) hereof commence; or
(c) The date on which a Termination Benefit or an Acquisition Termination Benefit, as herein defined, is paid.
ADDITIONS TO DEFERRED AMOUNTS. The Corporation agrees that it will credit Deferred Amounts in the Employee's Retirement Account with additions thereon ("Additions") from and after dates Deferred Amounts are credited to the Retirement Account. Additions to Deferred Amounts shall accrue commencing on the date the Retirement Account first has a positive balance and shall continue up to the date that the Retirement Account has been reduced to zero. Additions shall be calculated as an amount (the "As If Rate") equal to the yield that would be realized, including any dividends, interest, or other current yield, as well as any capital gain or loss based on an adjustment to fair market value on any date of calculation, as if hypothetically invested in whole or fractional shares in the assets set forth at Schedule 2 (the Calculation Assets), which may be changed at the sole discretion of the Employer, from time to time. The Employer shall have no obligation to actually acquire any of the Calculation Assets set forth at Schedule 2, and such return shall be only for purposes of calculating Additions to Deferred Amounts hereunder. The Employee shall have no rights in or to any Calculation Assets set forth at Schedule 2, as provided elsewhere in this Agreement. The As If Rate shall be adjusted on the last day of each fiscal quarter the plan year at the mean trading price of the Calculation Assets on such date or the first business date thereafter, as quoted in Barrons financial news publication, or in the absence of a quotation therein, in a similar publication or other authoritative valuation of the specified Calculation Assets. Any such designation of new Calculation Assets by the Employer must be in writing. For purposes of calculating Additions, it shall be assumed that the Calculation Assets is sold and the alternate Calculation Assets is purchased on the first business day following such revised designation by the Corporation.
ADDITIONS TO DEFERRED AMOUNTS. The Company hereby agrees that it will credit Deferred Amounts in the Employee's Retirement Account with additions thereon ("Additions") from and after the dates Deferred Amounts are credited to the Retirement Account. Additions shall be calculated at a rate computed as if Deferred Amounts had been invested in investments designated in accordance with the Employee's Election of Hypothetical Investment. For purposes of computing Additions, Deferral Amounts in the Retirement Account shall be assumed to have been invested on each date a Deferred Amount is credited to the Employee's Retirement Account, at the net asset value of the investments chosen on the Election of Hypothetical Investment on such date or the first business day thereafter, as quoted in the Wall Street Journal, or, in the absence of quotation therein, in a similar publication, if applicable. Additions shall be computed as if all dividends paid on the investments were reinvested in whole and fractional shares on the date paid.
ADDITIONS TO DEFERRED AMOUNTS. The Corporation hereby agrees that it will credit Deferred Amounts in the Employee's Retirement Account with additions thereon ("Additions") from and after the dates Deferred Amounts are credited to the Retirement Account. Additions to Deferred Amounts shall accrue commencing on the date the Retirement Account first has a positive balance and shall continue up to the date that Retirement Benefits begin as described in Paragraphs 7, 8 and 9 of this Agreement. Additions shall be calculated at a compound rate of interest which shall be declared by the Corporation on an annual basis. -------------------------------------------------------------------------------- JUNE 3, 1997 *LAMALIE AMROP INTERNATIONAL* SECTION V PAGE 3 DEFERRED COMPENSATION PLAN ================================================================================ 1997 DEFERRED COMPENSATION PLAN AGREEMENT ================================================================================
ADDITIONS TO DEFERRED AMOUNTS. The Bank hereby agrees that it will credit Deferred Amounts in Pxxxxxx'x Retirement Account with additions thereon ("Additions") from and after the dates Deferred Amounts are credited to the Retirement Account, subject to the limitations herein set forth. Additions to Deferred Amounts, calculated at the rate of eight percent (8%) per annum, compounded annually at the end of each Fiscal Year, shall accrue commencing on the date the Retirement Account first has a positive balance and shall continue until the first of the following events to occur: (a)The date that Death Benefits as described in paragraph 7(b) hereof, Retirement Benefits, or Disability Benefits, whichever applies, end hereunder; or 2
