Common use of Deferred Compensation Benefit Clause in Contracts

Deferred Compensation Benefit. Subject to the provisions in paragraphs 2 and 3 hereof, as of the date nine years after the date hereof (the “Deferred Date”), the Company will pay Executive (or his beneficiary in the event of his death) a lump sum (the “Benefit Amount”) equal to (i) the Bonus Amount plus (ii) an interest factor equal to the applicable mid-term federal rate on the date hereof, compounding annually, from the date hereof until payment hereunder, such Benefit amount to be paid regardless of whether Executive is employed by the Company as of such date.

Deferred Compensation Benefit. Subject to the provisions in paragraphs 2 and 3 hereof, as of the date nine seven (7) years after the date hereof (the “Deferred Date”), the Company will pay the Executive (or his beneficiary in the event of his death) a lump sum (the “Benefit Amount”) equal to (i) the Bonus Amount plus (ii) an interest factor equal to the applicable mid-short term federal rate on the date hereoffrom time to time, compounding annually, from the date hereof until payment hereunder, such Benefit amount to be paid regardless of whether the Executive is employed by the Company as of such date.

Deferred Compensation Benefit. Subject to the provisions in paragraphs paragraph 2 and 3 hereof, as of the date nine seven (7) years after the date hereof (the “Deferred Date”), the Company will pay the Executive (or his beneficiary in the event of his death) a lump sum (the “Benefit Amount”) equal to (i) the Bonus Amount plus (ii) an interest factor equal to the applicable mid-short term federal rate on the date hereoffrom time to time, compounding annually, from the date hereof until payment hereunder, such Benefit amount to be paid regardless of whether the Executive is employed by the Company as of such date.