Common use of Nonqualified Plans Clause in Contracts

Nonqualified Plans. If the Officer participated in any nonqualified retirement and/or deferred compensation plan(s) of the Company immediately prior to the time of such termination, the Company shall not cause or allow the termination of, reduction of benefits under, or termination or impairment of any arrangement established to secure payment of benefits under, any such plan with respect to the Officer. Further, the Company or subsidiaries will provide the Officer with service credit for benefits under any nonqualified retirement or deferred compensation plan(s) of the Company, if the Officer participated in such plan(s) immediately prior to the time of such termination, equal to two additional years' service accruals upon such termination of the Officer's employment; and