Enzon Pharmaceuticals, Inc. Executive Deferred Compensation Plan
1. Statement of Purpose
The purpose of the Enzon Pharmaceuticals, Inc. Executive Deferred Compensation Plan (the "Plan") is to aid
Enzon Pharmaceuticals, Inc. (the "Company") and its subsidiaries in attracting and retaining key employees by
providing a non-qualified compensation deferral vehicle.
2.01 Annual Incentive Compensation - "Annual Incentive Compensation" means the amount paid annually to the
Participant under the Enzon Pharmaceuticals Management Incentive Plan before reductions for deferrals under
this Plan or the Enzon Inc. Savings and Investment Plan.
2.02 Average Treasury Rate - "Average Treasury Rate" means the interest crediting rate used to determine the
amount of interest credited to a Participant's Deferred Compensation Account under Section 6.02 and
6.03. The rate for a Calendar Quarter shall be determined by averaging the Monthly Rates for 10-year Treasury
bonds during the Calendar Quarter. The Monthly Rate for each month shall be the yield on 10-year Treasury
bonds as calculated by Bloomberg Business News on the first business day of each month. If it becomes
necessary to determine the value of that portion of a Participant's Deferred Compensation Account during a
Calendar Quarter, but before the Average Treasury Rate for the Calendar Quarter can be determined, the
Average Treasury Rate for the portion of the Calendar Quarter for the Participant's Deferred Compensation
Account shall equal the average of the available Monthly Rates for the Calendar Quarter up to the Distribution
2.03 Base Salary - "Base Salary" means the Participant's annual basic rate of pay from the Company excluding
Annual Incentive Compensation and other non-regular forms of compensation before reductions for deferrals
under this Plan or the Enzon Pharmaceuticals, Inc. Savings and Investment Plan.
2.04 Beneficiary - "Beneficiary" means the person or persons designated as