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Document Preview Directors Deferred Compensation Plan |
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Title: |
Directors Deferred Compensation Plan |
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Entities: |
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Date: |
2004 |
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Size: |
28KB total |
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Price: |
$41 |
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ID: |
#228560 |
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Start of Preview |
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ETHYL CORPORATION
DIRECTORS DEFERRED COMPENSATION PLAN
As Amended and Restated
Effective July 1,1996
TABLE OF CONTENTS
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Section |
Page | |||
| 1. | PURPOSE | 1 | ||
| 2. | DEFINITIONS | 1 | ||
| 3. | PARTICIPATION | 3 | ||
| 4. | DEFERRAL ELECTION | 3 | ||
| 5. | EFFECT OF NO ELECTION | 5 | ||
| 6. | DEFERRED CASH BENEFITS | 5 | ||
| 7. | DEFERRED STOCK BENEFITS | 6 | ||
| 8. | DISTRIBUTION | 6 | ||
| 9. | HARDSHIP DISTRIBUTIONS | 8 | ||
| 10. | COMPANYS OBLIGATION | 9 | ||
| 11. | CONTROL BY PARTICIPANT | 9 | ||
| 12. | CLAIMS AGAINST PARTICIPANTS DEFERRED BENEFITS | 9 | ||
| 13. | AMENDMENT OR TERMINATION | 9 | ||
| 14. | NOTICES | 10 | ||
| 15. | WAIVER | 10 | ||
| 16. | CONSTRUCTION | 10 | ||
| 17. | EFFECTIVENESS | 10 | ||
| 1. | PURPOSE. The Ethyl Corporation Directors Deferred Compensation Plan (the Plan), is intended to constitute a deferred compensation plan for corporate directors fees. |
| 2. | DEFINITIONS. The following definitions apply to this Plan and to the Deferral Election Forms. |
| (a) | Administrator means the Companys Chief Financial Officer. |
| (b) | Beneficiary or Beneficiaries means a person or persons or other entity designated on a Beneficiary Designation Form by a Participant as allowed in subsection 7(c) to receive a Deferred Benefit. If there is no valid designation by the Participant, or if the designated Beneficiary or Beneficiaries fail to survive the Participant or otherwise fail to take the benefit, the Participants Beneficiary is the first of the following who survives the Participant: a Participants spouse (the person legally married to the Participant when the Participant dies); the Participants children in equal shares and the Participants estate. |
| (c) | Beneficiary Designation Form means a form acceptable to the Administrator or his designee used by a Participant according to this Plan to name his Beneficiary or Beneficiaries who will receive his Deferred Benefits under this Plan if he dies. |
| (d) | Board means the board of directors of the Company. |
| (e) | Common Stock means the common stock of the Company. |
| (f) | Company means Ethyl Corporation and any successor business by merger, purchase, or otherwise that maintains the Plan. |
| (g) | Compensation means a Directors Meeting Fees and Retainer Fees for the Deferral Year. |
| (h) | Deferral Election Form means a document governed by the provisions of section 4 of this Plan, including the portion that is the Distribution Election Form and the related Beneficiary Designation Form that applies to all of that Participants Deferred Benefits under the Plan. |
| (i) | Deferral Year means a calendar year for which a Director has an operative Deferral Election Form. |
| (j) | Deferred Benefit means either a Deferred Cash Benefit or a Deferred Stock Benefit under the Plan for a Participant who has submitted an operative Deferral Election Form pursuant to section 4 of this Plan. |
| (k) |
Deferred Cash Account means that bookkeeping record established for each Participant who elects a Deferred Cash Benefit. A Deferred Cash Account is established only for purposes of measuring a Deferred Cash Benefit and not to |
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