Common use of Nonelective Deferred Compensation Clause in Contracts

Nonelective Deferred Compensation. The Compensation Committee may in its discretion determine for any Plan Year to make a credit to a Participant’s Account as Nonelective Deferred Compensation, which amount may be a different amount or percentage (including no amount) for each Participant, as the Compensation Committee shall in its sole and absolute discretion determine, provided that the Compensation Committee may delegate its authority to make such determinations to the Company's Chief Human Resources Officer in accordance with such parameters as it may establish. Nonelective Deferred Compensation shall be credited to a Participant's Retirement Sub-Account monthly.