This excerpt taken from the EOG DEF 14A filed Mar 29, 2007.
NONQUALIFIED DEFERRED COMPENSATION TABLE
The following table provides certain information with respect to each defined contribution plan that provides for the deferral of compensation on a basis that is not tax qualified.
Under our 1996 Deferral Plan, each Named Officer can elect to defer up to 50% of his regular salary and/or up to 100% of the cash portion of his annual bonus payout. Deferral elections are irrevocable and must be made prior to the first day of the calendar year during which the compensation would be earned.
Deferrals are invested into either the Flexible Deferral Account, in which deferrals are treated as if they had been invested into various investment funds as directed by the participant, in which returns vary based on the performance of the funds; or into the Phantom Stock Account, in which deferrals are treated as if they had purchased our common stock, including reinvestment of dividends.
Participants in the deferral plan may elect a lump sum payout or annual installment payouts for up to 15 years following their separation from service, disability, or death. If a participant elected to defer funds into the Phantom Stock Account, distributions will be made in shares of our common stock. A participant may also elect to receive his account balance in a lump sum upon a change of control (as defined in the Deferral Plan).
A participant may receive an in-service distribution in the following ways:
n through a Special Deferral Account, under which distribution of all or a part of a participants account balance can be made over a period of one to five years beginning after the first anniversary of the election; or
n through a hardship distribution, in which the committee responsible for administering the plan (in its sole discretion) grants the participants request for a distribution based on unforeseeable circumstances causing urgent and severe financial hardship for the participant.