WDR » Topics » ARTICLE 4 Participation

This excerpt taken from the WDR DEF 14A filed Feb 29, 2008.

4.         Participation

            (a)       General Participation.    For any Performance Period, the Committee shall determine which of such executive officers and other individual employees or class of employees shall participate in the Plan.

            (b)       Participation by Covered Employees.    For any Performance Period for which "qualified performance-based compensation" is to be provided, the Committee shall designate the individual or classes of Covered Employees to whom such compensation shall be paid no later than 90 days (or, for Performance Periods of less than one year, the passage of 25% of the Performance Period) after the beginning of any Performance Period.

These excerpts taken from the WDR 10-Q filed Nov 1, 2005.

Participation

 

                Section 4.1.  Election to Participate.  Each Non-Employee Director is automatically eligible to participate in the Plan.  A Non-Employee Director may participate in the Plan for a calendar year by delivering a properly completed and signed Conversion Election Form to the Plan Administrator on or before the Election Date.  The Non-Employee Director’s participation in the Plan will be effective as of the date the Plan Administrator receives the Non-Employee Director’s Conversion Election Form.  A Non-Employee Director shall not be entitled to any benefit hereunder unless such Non-Employee Director has properly completed a Conversion Election Form.

 

                Section 4.2.  Irrevocable Election.  A Participant may not revoke or change his or her Conversion Election Form for a calendar year.

 

                Section 4.3.  No Right to Continue as a Director.  Nothing contained in the Plan shall be deemed to give any Non-Employee Director the right to be retained as a director of the Company.

 

ARTICLE 4
Participation

Section 4.1.  Election to Participate.  The Chairman of the Board or the Committee or its designee shall designate each year those executive officers who shall be Eligible Executives for the coming year.  An Eligible Executive may participate in the Plan by delivering to the Plan Administrator a properly completed and signed (a) Salary Conversion Election Form on or before the Salary Conversion Election Date, and/or (b) Bonus Conversion Election Form on or before the Bonus Conversion Election Date.  An Eligible Executive’s participation in the Plan will be effective as of the date the Plan Administrator receives the Eligible Executive’s Salary or Bonus Conversion Election Form.  An Eligible Executive shall not be entitled to any benefit hereunder unless such Eligible Executive has properly completed a Conversion Election Form.

Section 4.2.  Irrevocable Election.  A Participant may not revoke or change his or her Conversion Election Form for a calendar year.

Section 4.3.  No Right to Continue as an Employee.  Nothing contained in the Plan shall be deemed to give any Eligible Executive the right to be retained as an employee of the Company or any of its Affiliates.

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