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 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 * (The Code requires that the Employer receive this Agreement before the first day of the month in which contributions will begin or change. If necessary to meet that requirement, the Employer reserves the right to change the effective date of contributions.) 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 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 * (The Code requires that the Employer receive this Agreement before the first day of the month in which contributions will begin or change. If necessary to meet that requirement, the Employer reserves the right to change the effective date of contributions.) 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 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 * (The Code requires that the Employer receive this Agreement before the first day of the month in which contributions will begin or change. If necessary to meet that requirement, the Employer reserves the right to change the effective date of contributions.) 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.