MOLX » Topics » Nonqualified Deferred Compensation

This excerpt taken from the MOLX DEF 14A filed Sep 12, 2008.
Nonqualified Deferred Compensation
 
The Molex Executive Deferred Compensation Plan permits participants to defer all or a portion of their base salary and bonus during the plan year. Amounts deferred by participants may be invested in a variety of mutual funds, including money market, bond, fixed income, large-, mid-, and small-cap equity funds, international equity funds and life-style funds. Molex stock is not an investment option and “above market” crediting rates are not offered. Participants may transfer investments among the various investment alternatives on a daily basis.
 
Participants make separate elections each year regarding the amount to defer, the deferral period, and the timing and method of distribution at the end of the deferral period. With regard to the deferral period, participants may elect a fixed deferral period of five or ten years or to defer payment until separation from service. Payment of fixed period deferrals begin as of the date elected provided the participant is still employed at that time. Participants who leave employment prior to the end of an elected fixed deferral period must begin receiving payments after separation from service even if the fixed period has not expired.
 
Deferred amounts not distributed as described above, are distributed upon a participant’s death, disability or separation from service paid in a single lump sum. Deferred amounts can be distributed in annual installments and the participant is at least 591/2. To the extent permitted under Section 409A of the Internal Revenue Code, distributions may be accelerated in the event of an unforeseeable emergency or financial hardship we approve. Distributions to executive officers cannot begin earlier than six months after separation from service. None of the NEOs participate in this plan.
 
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