Common use of Nonqualified Retirement Plan Clause in Contracts

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company for Executive with a deemed contribution of $25,000 per fiscal year. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 percent compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan. Executive shall at all times be fully vested in such account, and such account shall be paid to Executive in the manner and at the time(s) specified in such plan.

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company for Executive with a deemed contribution of $25,000 100,000 per fiscal year. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 percent 10% compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan. Executive shall at all times be fully vested in such account, and such account shall be paid to Executive in the manner and at the time(s) specified in such plana single sum within 60 days after termination of Executive's employment with Company for any reason.

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company for Executive with a deemed contribution of $25,000 100,000 per fiscal year. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 percent compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan. Executive shall at all times be fully vested in such account, account and such account shall be paid to Executive in the manner and at the time(s) specified in such plan.

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company for Executive with a deemed contribution of that shall increase to $25,000 35,000 per fiscal yearyear as of the date of this Employment Agreement. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 ten (10) percent compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan. Executive shall at all times be fully vested in such account, account and such account shall be paid to Executive in the manner and at the time(s) specified in such the plan.

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company for Executive with a deemed contribution of $25,000 per fiscal year. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 percent compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan; provided that, as of the first calendar day of each fiscal year of Company beginning with its 2004 fiscal year, the deemed contribution credited to Executive shall be $35,000 per fiscal year, which amount shall earn interest at the rate of 10 percent compounded annually. Executive shall at all times be fully vested in such account, account and such account shall be paid to Executive in the manner and at the time(s) specified in such plan.

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company for Executive with a deemed contribution of $25,000 per fiscal year. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 percent compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan. Executive shall at all times be fully vested in such account, account and such account shall be paid to Executive in the manner and at the time(s) specified in such plan.

Nonqualified Retirement Plan. Company has previously entered into a nonqualified supplemental executive retirement plan with Executive whereby Company has credited a bookkeeping account maintained by Company it for Executive with a deemed contribution of $25,000 per fiscal year. Such deemed contribution shall be credited during the Term as of the first day of each fiscal year of Company and shall earn interest at the rate of 10 percent compounded annually. Company acknowledges that Executive is entitled to continue receiving benefits under and in accordance with the terms of such plan. Each additional deemed contribution shall be credited during the Term as of the first calendar day of each fiscal year of Company beginning with its 2004 fiscal year, and shall earn interest at the rate of 10 percent, compounded annually. Executive shall at all times be fully vested in such account, and such account shall be paid to Executive in the manner and at the time(s) specified in such plan.