MOLX » Topics » Directors Deferred Compensation Plan

This excerpt taken from the MOLX 10-K filed Aug 3, 2006.

Directors’ Deferred Compensation Plan


Our non-employee directors are eligible to participate in deferred compensation plans under which they may elect on a yearly basis to defer all or a portion of the following year’s compensation.   A participant may elect to have the deferred amount (a) accrue interest during each calendar quarter at a rate equal to the average six month Treasury Bill rate in effect at the beginning of each calendar quarter, or (b) credited as stock “units” whereby each unit is equal to one share of Common Stock.  The cumulative amount that is deferred for each participating director is subject to the claims of our general creditors.  


If a non-employee director elects to have his or her compensation deferred as stock units, the compensation earned for a given quarter are converted to stock units at the closing price on the date the compensation would otherwise be paid.  These stock units are generally settled in cash and marked to market value at the end of each quarter.  The liability associated with deferred director fees for credited stock “units” for fiscal 2006, 2005 and 2004 was $5.4 million, $3.7 million and $3.9 million, respectively.


Upon termination of service as a director, the accumulated amount will be distributed as elected by a participant.  At the time of distribution, any stock units will be converted into cash by multiplying the number of units by the fair market value of the stock as of the payment date.


On July 28, 2006, the Board of Directors amended the director deferred compensation plans such that stock units credited to a participant’s account will be distributed in shares of Common Stock rather than cash.


This excerpt taken from the MOLX 10-Q filed May 2, 2006.

Directors’ Deferred Compensation Plan


Our directors are eligible to participate in The Molex Incorporated Deferred Compensation Plan and the newly adopted 2005 Molex Outside Directors’ Deferred Compensation Plan under which they may elect on a yearly basis to defer all or a portion of the following year’s compensation.   A participant may elect to have the deferred amount (a) accrue interest during each calendar quarter at a rate equal to the average six month Treasury Bill rate in effect at the beginning of each calendar quarter, or (b) credited as stock “units” whereby each unit is equal to one share of Common Stock.  The cumulative amount that is deferred for each participating director is subject to the claims of our general creditors.  


If a director elects to have his or her director fees deferred as stock units, the fees earned for a given quarter are converted to stock units at the closing price on the date of record for paying dividends.  These stock units are generally settled in cash and marked to market value at the end of each quarter.  The liability associated with deferred director fees for credited stock “units” was $5,337 at March 31, 2006 and $3,633 at March 31, 2005.


Upon termination of service as a director, the accumulated amount will be distributed in a lump sum.  At the time of distribution, any stock units will be converted into cash by multiplying the number of units by the fair market value of the stock as of the payment date.


This excerpt taken from the MOLX 10-Q filed Feb 2, 2006.

Directors’ Deferred Compensation Plan


Our directors are eligible to participate in The Molex Incorporated Deferred Compensation Plan and the newly adopted 2005 Molex Outside Directors’ Deferred Compensation Plan under which they may elect on a yearly basis to defer all or a portion of the following year’s compensation.   A participant may elect to have the deferred amount (a) accrue interest during each calendar quarter at a rate equal to the average six month Treasury Bill rate in effect at the beginning of each calendar quarter, or (b) credited as stock “units” whereby each unit is equal to one share of Common Stock.  The cumulative amount that is deferred for each participating director is subject to the claims of our general creditors.  


If a director elects to have his or her director fees deferred as stock units, the fees earned for a given quarter are converted to stock units at the closing price on the date of record for paying dividends.  These stock units are then marked to market value at the end of each quarter.  The liability associated with deferred director fees for credited stock “units” was $4,164 at December 31, 2005 and $3,879 at December 31, 2004.




9


Upon termination of service as a director, the accumulated amount will be distributed in a lump sum.  At the time of distribution, any stock units will be converted into cash by multiplying the number of units by the fair market value of the stock as of the payment date.


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki