Print Page  |  Close Window

Investor Relations

SEC Filings

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



                 (b)      The amount of an Executive Participant's supplemental
savings plan benefits under this Plan shall be the aggregate amount of the
Supplemental Savings Awards and the Supplemental Basic Contributions together
with interest accrued thereon (the "Supplemental Savings Account").  Interest
shall be credited on the amount of an Executive Participant's Supplemental
Savings Account by crediting the closing account balance at the end of such
Plan Year or on such other basis as may be approved by the Committee with
interest at the rate per annum determined pursuant to the provisions of
paragraph (c) and compounded monthly.

                 (c)      The Compensation Committee shall establish the rate
of interest to be credited as provided in paragraph (b) above.  Notwithstanding
the foregoing, in no year shall the rate of interest to be credited be higher
than 10%.  In the event a Supplemental Savings Account becomes payable prior to
the end of a calendar year, interest will be allocated on a pro rata basis
(computed on the basis of a year consisting of twelve (12) 30-day months).

                 (d)      Supplemental Savings Awards and the interest thereon
shall be fully vested and nonforfeitable.

                 (e)      No withdrawal of funds in an Executive Participant's
Supplemental Savings Account for hardship or any other reason may be made while
an Executive Participant remains employed by the Company or an Affiliate.  The
Supplemental Savings Account shall be paid in cash as soon as practicable
following termination of Service.

                 (f)      An Executive Participant shall designate a
beneficiary to receive the unpaid portion of his Supplemental Savings Account
in the event of his death.  The designation shall be made in a writing filed
with the Committee on a form approved by it and signed by the Executive
Participant.  If no effective designation of beneficiary shall be on file with
the





                                      -9-