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CHK » Topics » Deferrals

These excerpts taken from the CHK 10-K filed Feb 29, 2008.

Deferrals

 

4.1 Deferral Elections, Generally.

 

  (a) A Participant shall submit a Compensation Deferral Agreement during the enrollment periods established by the Committee and in the manner specified by the Committee, but in any event, in accordance with Section 4.2. A Compensation Deferral Agreement that is not timely filed with respect to a service period or component of Compensation shall be considered void and shall have no effect with respect to such service period or Compensation. The Committee may modify any Compensation Deferral Agreement prior to the date the election becomes irrevocable under the rules of Section 4.2.

 

  (b) The Participant may elect on the Compensation Deferral Agreement to defer (i) an amount of Compensation equal to the percentage of Compensation he has elected to defer to the Qualified Plan reduced by the maximum amount he is permitted to defer to such plan, and/or (ii) additional amounts of Compensation that are independent of his deferral election under the Qualified Plan. The deferral election under the Qualified Plan shall be irrevocable for a year to the extent the Participant makes an election of the type described in (i) above.

 

  (c) The Participant shall specify on his or her Compensation Deferral Agreement whether to allocate Deferrals to a Retirement/Termination Account or to a Specified Date Account. If no designation is made, all Deferrals shall be allocated to the Retirement/Termination Account. A Participant may also specify in his or her Compensation Deferral Agreement the Payment Schedule applicable to his or her Plan Accounts. If the Payment Schedule is not specified in a Compensation Deferral Agreement, the Payment Schedule shall be the Payment Schedule specified in Section 6.2.

 

Deferrals

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4.1Deferral Elections, Generally.

 






 (a)A Participant shall submit a Compensation Deferral Agreement during the enrollment periods established by the Committee and in the manner specified by the Committee, but in any
event, in accordance with Section 4.2. A Compensation Deferral Agreement that is not timely filed with respect to a service period or component of Compensation shall be considered void and shall have no effect with respect to such service
period or Compensation. The Committee may modify any Compensation Deferral Agreement prior to the date the election becomes irrevocable under the rules of Section 4.2.
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 






 (b)The Participant may elect on the Compensation Deferral Agreement to defer (i) an amount of Compensation equal to the percentage of Compensation he has elected to defer to the
Qualified Plan reduced by the maximum amount he is permitted to defer to such plan, and/or (ii) additional amounts of Compensation that are independent of his deferral election under the Qualified Plan. The deferral election under the Qualified
Plan shall be irrevocable for a year to the extent the Participant makes an election of the type described in (i) above.

 






 (c)The Participant shall specify on his or her Compensation Deferral Agreement whether to allocate Deferrals to a Retirement/Termination Account or to a Specified Date Account. If no
designation is made, all Deferrals shall be allocated to the Retirement/Termination Account. A Participant may also specify in his or her Compensation Deferral Agreement the Payment Schedule applicable to his or her Plan Accounts. If the Payment
Schedule is not specified in a Compensation Deferral Agreement, the Payment Schedule shall be the Payment Schedule specified in Section 6.2.

 


EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 29, 2008

RELATED TOPICS for CHK:

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