Common use of CREDITING OF DEFERRED COMPENSATION Clause in Contracts

CREDITING OF DEFERRED COMPENSATION. Deferred Compensation that a Participant elects to have credited in dollar amounts shall be credited to the Participant's Deferred Account as it becomes payable to the Director. Deferred Compensation payable to a Director during a Plan Year that a Participant elects to have credited in Units, plus an amount of Units equal to 25% of such Deferred Compensation for such Plan Year, shall be credited to the Participant's Deferred Account annually after the end of such Plan Year on the basis of the average of the Fair Market Values of the Common Stock on the last trading day in each calendar month during such Plan Year.

CREDITING OF DEFERRED COMPENSATION. Deferred Compensation that a Participant elects to have credited in dollar amounts shall be credited to the Participant's Deferred Account as it becomes payable to the Director. Deferred Compensation payable to a Director during a Plan Year Year that a Participant elects to have credited in Units, plus an additional amount of Units equal in value to 25% of such Deferred deferred Compensation for such Plan Year, shall be credited to the Participant's Deferred Account annually after as of the end of such Plan Year on the basis of the average of the Fair Market Values of the Common Stock on the last trading day in each calendar month during such Plan Year.