Common use of Deferred Compensation Benefits Clause in Contracts

Deferred Compensation Benefits. In response to the American Jobs Creation Act of 2004 (“AJCA”), paragraph 11 of the Agreement is amended to read as follows. All amounts deferred under paragraph 11 on or before December 31, 2004 and earnings thereon shall continue to remain deferred, and shall continue to accrue interest, on the same terms and at the same rate, as existed on December 31, 2004, except as specifically provided below.

Deferred Compensation Benefits. In response to the American Jobs Creation Act of 2004 (“AJCA”), paragraph Section 11 of the Agreement is amended to read as follows. All amounts deferred under paragraph Section 11 on or before December 31, 2004 and earnings thereon shall continue to remain deferred, and shall continue to accrue interest, on the same terms and at the same rate, as existed on December 31, 2004, except as specifically provided below.