This excerpt taken from the GCI DEF 14A filed Mar 15, 2007.
Gannett Deferred Compensation Plan
The named executive officers may elect to defer all or a portion of their compensation under the DCP, provided that the minimum deferral must be $5,000 for the year of deferral or, in the case of deferred RSUs, a minimum number of shares determined by the Committee. The amounts deferred by each named executive officer will be deemed invested in the fund or funds designated by such named executive officer from among a number of funds selected by the Committee. Officers may change their deemed investments from time to time. For 2006, the following funds, which are identical to those available to all employee-participants under the Companys 401(k) plan, were available for investment under the DCP:
Elections to defer compensation generally must be made prior to the year in which the services to which the compensation relates will be performed. Once made, an election to defer compensation to be earned in the upcoming year is irrevocable. At the time a deferral election is made, the named executive officer chooses the date on which payment of the amount of compensation for the upcoming year credited to the DCP is to commence, as well as whether to receive the payments either in a lump sum or, if the payment is to start during the year in which such executive could have retired under any Company retirement plan, in up to fifteen annual installments. Named executive officers may change the form of payment elected with respect to particular deferrals, subject to compliance with the terms of the DCP then in effect, including any grandfathered terms resulting from changes in applicable U.S. federal income tax laws or regulations.
The Company does not make contributions on behalf of its executive officers to the DCP.