Common use of Employee Deferred Compensation Clause in Contracts

Employee Deferred Compensation. NEW AGREEMENT # CONTRIBUTION CHANGE The Employee authorizes the Employer to make Deferred Compensation contributions to the above EDC effective: *, equal to a NEW TOTAL of: # $ MONTHLY -OR- # $ PER PAY -OR- # % OF PAY Prior Monthly Contribution Amount: $ Catch-Up Option being utilized: # Age 50+ -OR- # Last 3 Yrs. Before Retirement It is understood and agreed between the parties that the 457(b) Employee Deferred Compensation contract purchased hereunder is required to be owned by the Employer for the exclusive benefit of participants and their beneficiaries.

Employee Deferred Compensation. NEW AGREEMENT # CONTRIBUTION CHANGE The Employee authorizes the Employer to make Deferred Compensation contributions to the above EDC employer’s 457(b) plan effective: *, equal to a NEW TOTAL of: # $ _ MONTHLY -OR- # $ PER PAY -OR- # % OF PAY Prior Monthly Contribution Amount: $ Catch-Up Option being utilized: # Age 50+ -OR- # Last 3 Yrs. Before Retirement It is understood and agreed between the parties that the 457(b) Employee Deferred Compensation contract purchased hereunder is required to be owned by the Employer for the exclusive benefit of participants and their beneficiaries.