Print Page  |  Close Window

Investor Relations

SEC Filings

GRAHAM HOLDINGS CO filed this Form 10-K on 03/29/1994
Entire Document
<PAGE>   8

under the Retirement Plan) concurrently with the payment of the benefits
payable under the Retirement Plan in which he was participating at the date of
termination and shall be payable in the same form as such benefits are being
paid thereunder.  In the event the Supplemental Retirement Benefit commences
prior to Normal Retirement Date or is payable in a form other than an annuity
for the life of the former employee only, the Supplemental Retirement Benefit
shall be actuarially adjusted in the same manner as are benefits payable under
the Retirement Plan in which he was participating at the time of termination.
The Committee may, however, in its sole discretion direct that the Supplemental
Retirement Benefit payable with respect to a former employee be paid as an
actuarially equivalent single sum payment; provided, that (except for a
distribution to pay taxes as provided in Section 5) no such payment may be made
prior to termination of Service or prior to the date that benefits may become
payable under any of the Retirement Plans, and provided, further, that in
determining actuarial equivalency of a single sum payment in cash, there shall
be used the interest rate which would be used by the Pension Benefit Guaranty
Corporation for the purpose of determining the present value of a single sum
distribution on plan termination and the 1974 George B. Buck Mortality Table,
set forward one year.

                 Section 4.  Supplemental Savings Plan Benefits.
                 (a)      In the event that the Actual Salary of an Executive
Participant designated as eligible to receive benefits under this Section 4 for
1989 or any subsequent Plan Year exceeds the 401(a)(17) Limitations for such
Plan Year, such Executive Participant shall be eligible to make additional
salary reduction contributions under this Plan and receive a Supplemental
Savings Award under this Plan for such Plan Year; provided, that such Executive
Participant is then participating in his employer's Savings Plan and making (i)
the maximum allowable basic, matchable tax-deferred contributions to such
Savings Plan and (ii) the maximum allowable after tax contributions which can
result in a matching employer contribution, as permitted under such Savings
Plan, after taking into account the application of