GNC 2011 Annual Report Download - page 184

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ARTICLE III
CONTRIBUTIONS & DEFERRAL ELECTIONS
3.1 Elections to Defer Compensation.
(a) Form of Elections. A Participant may only elect to defer Compensation attributable to services provided
after the time an election is made and in accordance with Section 409A. Elections shall take the form of a whole percentage (less
applicable payroll withholding requirements for Social Security and income taxes and employee benefit plans as determined in the
sole and absolute discretion of the Committee) of up to
(1) 80 % of Base Salary
(2) 80 % of Commissions
(3) 100 % of Bonuses
Notwithstanding the foregoing, the Committee may further limit the maximum or the minimum amount of deferrals during any Plan
Year, by any Participant or group of Participants, in its sole discretion.
(b) Duration of Compensation Deferral Election. An Eligible Executive's initial election to defer
Compensation shall be made during the Initial Election Period established by the Committee prior to the Effective Date of the
Participant's commencement of participation in the Plan and shall apply only to Compensation for services performed after such
deferral election is processed. A Participant may increase, decrease, terminate or recommence a deferral election with respect to
Compensation for any subsequent Plan Year by filing a Participant Election Form during the enrollment period established by the
Committee prior to the beginning of such Plan Year, which election shall be effective on the first day of the next following Plan Year.
In the absence of an affirmative election by the Participant to the contrary, the deferral election for the prior Plan Year shall NOT
continue in effect for future Plan Years. After the beginning of the Plan Year, deferral elections with respect to Compensation for
services performed during such Plan Year shall be irrevocable [except in the event of Disability or Financial Hardship.]
3.2 Company Contributions.
(a) Discretionary Company Contributions. The Company shall have the discretion to make Company
Contributions to the Plan at any time on behalf of any Participant. Company Contributions shall be made in the complete and sole
discretion of the Company and no Participant shall have the right to receive any Company Contribution in any particular Plan Year
regardless of whether Company Contributions are made on behalf of other Participants
3.3 Investment Elections.
(a) Participant Direction. At the time of entering the Plan and/or of making the deferral election under the
Plan, the Participant shall designate, on a Participant Election Form provided by the Committee, the investment Funds in which the
Participant's Account or
5