This Agreement is made by and between: _____________________________________________ and _____________________________________________.
The parties agree to and acknowledge the following:
a. The Participant agrees to defer compensation pursuant to the Employer’s Deferred Compensation Plan (Plan), which is an eligible deferred
compensation plan pursuant to Section 457(b) of the Internal Revenue Code (Code), and hereby accepts all of the terms, provisions, and conditions of
the Plan, all of which are hereby incorporated into this Agreement.
b. Commencing (date): ____________________________________________, the Participant agrees to defer the right to receive compensation to the
extent of $ __________ or ____% of compensation (per ___________) in return for the benefits specified in the Plan, and this Agreement authorizes
the Employer to so reduce his or her compensation. The Participant agrees that if the date specified in the preceding sentence is earlier than the first
day of the month following the date of this Agreement, such date will be the first day of the month after the date of this Agreement. The Participant
understands and agrees that amounts deferred under this Agreement, taken together with amounts deferred under a prior or later agreement with
respect to the same calendar year, shall not exceed the applicable deferred compensation Code and Plan limitations.
c. The Participant’s benefits under the Plan shall be based upon the amounts credited to the Participant’s Account, which shall reflect the Employer’s
investment of the Participant’s Deferred Compensation. For this purpose, the Participant requests that the Employer invest the Participant’s Deferred
Compensation under a group annuity contract issued by The Variable Annuity Life Insurance Company, a custodial account or other investment
alternatives made available under the Plan.
d. For private not-for-profit employer plans: The Participant elects the following date for the commencement