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These excerpts taken from the FFEX 10-K filed Mar 6, 2009. Supplemental
Employee Retirement Plan (“SERP”) – The Company also has a SERP for the
benefit of certain "highly compensated" personnel (as determined in accordance
with the Employee Retirement Income Security Act of 1974). The SERP's investment
income, assets and liabilities, which are contained in a Rabbi Trust, are
included in the accompanying consolidated financial statements. As of December
31, 2008, the SERP liability was $896,000 and there were approximately 81,000
shares in the trust. Consistent with the FASB's EITF Issue 97-14 Accounting for Deferred
Compensation Arrangements Where Amounts Earned Are Held in a Rabbi Trust and
Invested, the shares of the common stock held in a Rabbi Trust are
accounted for as treasury stock until SERP participants elect to liquidate the
stock. During 2008, SERP participants purchased 31,000 shares and liquidated
35,000 shares from the Rabbi Trust.
Supplemental Employee Retirement Plan (“SERP”) – The Company also has a SERP for the benefit of certain "highly compensated" personnel (as determined in accordance with the Employee Retirement Income Security Act of 1974). The SERP's investment income, assets and liabilities, which are contained in a Rabbi Trust, are included in the accompanying consolidated financial statements. As of December 31, 2008, the SERP liability was $896,000 and there were approximately 81,000 shares in the trust. Consistent with the FASB's EITF Issue 97-14 Accounting for Deferred Compensation Arrangements Where Amounts Earned Are Held in a Rabbi Trust and Invested, the shares of the common stock held in a Rabbi Trust are accounted for as treasury stock until SERP participants elect to liquidate the stock. During 2008, SERP participants purchased 31,000 shares and liquidated 35,000 shares from the Rabbi Trust. Supplemental Employee Retirement Plan (“SERP”) – The Company also has a SERP for the benefit of certain "highly compensated" personnel (as determined in accordance with the Employee Retirement Income Security Act of 1974). The SERP's investment income, assets and liabilities, which are contained in a Rabbi Trust, are included in the accompanying consolidated financial statements. As of December 31, 2008, the SERP liability was $896,000 and there were approximately 81,000 shares in the trust. Consistent with the FASB's EITF Issue 97-14 Accounting for Deferred Compensation Arrangements Where Amounts Earned Are Held in a Rabbi Trust and Invested, the shares of the common stock held in a Rabbi Trust are accounted for as treasury stock until SERP participants elect to liquidate the stock. During 2008, SERP participants purchased 31,000 shares and liquidated 35,000 shares from the Rabbi Trust. | EXCERPTS ON THIS PAGE:
RELATED TOPICS for FFEX: |
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