03-1412 ICMA CIty Manager 457 Deferred Compensation Plan

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beneficiary is designated in the Joinder Agreements if the Designated Beneficiary predeceases the Participant, or if the designated Beneficiary does not survive the Participant for a period of fifteen (IS) days, then the estate of the Participant shall be the Beneficiary. If a married Participant resides in a community or marital property state, the Participant shall be responsible for obtaining appropriate consent of his or her spouse in the event the Participant designates someone other than his or her spouse as Beneficiary. 2.06 Deferred Compensation: The amount of Normal Compensation otherwise payable to the Participant which the Participant and the Employer mutually agree to defer hereunder, any amount credited to a Partici- pant's Account by reason of a transfer under Section 6.09, a rollover under Section 6.10, or any other amount which the Employer agrees to credit to a Participant's Account. 2.07 Dollar Limitation: The applicable dollar amount within the meaning of Section 457(b)(2)(A) of the Code, as adjusted for the cost-of-living in accordance with Section 457(e)(l5) of the Code. 2.08 Employee: Any individual who provides services for the Employer, whether as an employee of the Employer or as an independent contractor, and who has been designated by the Employer as eligible to participate in the Plan. 2.09 Employer: , which is a political subdivision, agency or instrumentality of the [State/Commonwealth] of , within the meaning of Section 414(d) of the Code and Section 3(32) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). 2.10457 Catch-Up Dollar Limitation: Prior to January I, 2002, "457 Catch-Up Dollar Limitation" means $15,000. On and after January I, 2002, "457 Catch-Up Dollat Limitation" means twice the Dollar Limitation. 2.11 Includible Compensation: The amount of an Employee's compensation from the Employer for a taxable year that is attributable to services performed for the Employer and that is includible in the Employ- ee's gross income for the taxable year fat federal income tax purposes as defined in Section 457(e)(5) of the Code; such term does not include any amount excludable from gross income under this Plan or any other plan described in Section 457(b) of the Code or any other amount excludable from gross income for federal income tax purposes. Includible Compensation shall be determined without regard to any community property laws. 2.12 Joinder Agreement: An agreement entered into between an Employee and the Employer, including any amendments or modifications thereof. Such agreement shall fix the amount of Deferred Compensation, specify a preference among the investment alternatives designated by the Employer, designate the Employee's Beneficiary or Beneficiaries, and incorporate the terms, conditions, and provisions of the Plan by reference. 2.13 Normal Compensation: The amount of Compensation which would be payable to a Participant by the Employer for a t,u:able year if no Joinder Agreement were in effect ro defer compensation under this Plan. 2.14 Normal Limitation: The m,u:imum amount of Deferred Compensation for any Participant for any raXJble year (other than amounts referred to in Sections 6.09 and 6.10). 3 -.,