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W.W. Grainger (GWW)
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GWW » Topics » 21.14 No Deferred Compensation.

This excerpt taken from the GWW 10-Q filed Aug 2, 2006.
21.14 No Deferred Compensation. No deferral of compensation shall be permitted under this Plan. However, the Committee may permit deferrals of compensation pursuant to a separate plan or a subplan which meets the requirements of Code Section 409A. Additionally, to the extent any Award is subject to Code Section 409A, notwithstanding any provision herein to the contrary, the Plan does not permit the acceleration of the time or schedule of any distribution related to such Award, except as permitted by Code Section 409A and/or the Secretary of the United States Treasury.

 

This excerpt taken from the GWW DEF 14A filed Mar 24, 2006.

Deferred Compensation

        Officers of the Company may elect to defer receipt of up to 50% of base salary and/or 85% of annual cash bonus under the 2004 Voluntary Salary and Incentive Deferral Plan, an unfunded deferred compensation plan. The rate of return on the individual accounts (positive or negative) will be a function of the participant-selected investment funds. The Company does not provide a matching contribution nor does it subsidize above market investment returns. Investment choices for officers who elect to defer salary and/or bonus generally may be made only from the same investment funds available under the Company's profit sharing plan. Nine officers participated in the plan in 2005.

This excerpt taken from the GWW DEF 14A filed Mar 18, 2005.

Deferred Compensation

        Officers of the Company may elect to defer receipt of up to 50% of base salary and/or 85% of annual cash bonus under an unfunded deferred compensation plan. The rate of return on the individual accounts (positive or negative) will be a function of the participant-selected investment funds. Investment choices for employees who elect to defer salary and/or bonus generally may be made only from the same investment funds available under the Company's profit sharing plan.

EXCERPTS ON THIS PAGE:

10-Q
Aug 2, 2006
DEF 14A
Mar 24, 2006
DEF 14A
Mar 18, 2005

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