Common use of Establishing and Crediting Clause in Contracts

Establishing and Crediting. The Employer shall establish a Deferral Account on its books for the Executive and shall credit to the Deferral Account the following amounts: (a) Any Deferrals or Contributions hereunder; and (b) Interest as follows: (i) on the last day of each month prior to the earliest of Separation from Service, Disability or the Executive’s death, interest shall be credited on the Deferral Account balance at an annual rate equal to the Accumulation Period Crediting Rate, compounded monthly; and (ii) on the last day of each month following the earliest of Separation from Service, Disability or the Executive’s death, interest shall be credited on the Deferral Account balance at an annual rate equal to the Distribution Period Crediting Rate, compounded monthly.