Common use of Deferred Compensation Units Clause in Contracts

Deferred Compensation Units. The Book Value Deferral Method credits Deferred Compensation units ("Units") to the Executive's account determined by dividing the cash amount of Deferred Compensation by the Book Value of the Common Stock at December 31, 1996. The Executive's account shall be credited with amounts equal to dividends paid in cash from time to time on the Common Stock. "Book Value" of Common Stock shall be the total Common Stock equity on a consolidated basis divided by total shares outstanding, as shown in the applicable annual report certified by the independent certified public accountants retained as auditors of the Company.

Deferred Compensation Units. The Book Value Deferral Method credits Deferred Compensation units ("Units") to the Executive's account determined by dividing the cash amount of Deferred Compensation by the Book Value of the Common Stock at December 31, 199631 of the previous calendar year. The Executive's account shall be credited with amounts equal to dividends paid in cash from time to time on the Common Stock. "Book Value" of Common Stock shall be the total Common Stock equity on a consolidated basis divided by total shares outstanding, as shown in the applicable annual report certified by the independent certified public accountants retained as auditors of the Company.