GNC 2011 Annual Report Download - page 186

Download and view the complete annual report

Please find page 186 of the 2011 GNC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 205

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205

(3) in the case of payments made according to a Scheduled Distribution, the new election is made not
less than twelve (12) months before the date on which payment would have been made (or, in the case of installment payments, the
first installment payment would have been made) absent the new election.
For purposes of application of the above change limitations, installment payments shall be treated as a single payment. Election
changes made pursuant to this Section shall be made on Participant Elections Forms provided by the Committee, and in accordance
with rules established by the Committee, and shall comply with all requirement of Code Section 409A and applicable authorities.
ARTICLE IV
DEFERRAL ACCOUNTS
4.1 Deferral Accounts. The Committee shall establish and maintain one or more Deferral Account for each Participant
under the Plan. Each Participant's Deferral Account shall be further divided into separate subaccounts ("investment fund
subaccounts"), each of which corresponds to an investment Fund elected by the Participant pursuant to Section 3.2. A Participant's
Deferral Account shall be credited as follows:
(a) On or before the fifth (5th) business day after amounts are withheld and deferred from a Participant's
Compensation, the Committee shall credit the investment fund subaccounts of the Participant's Deferral Account with an amount
equal to Compensation deferred by the Participant in accordance with the Participant's election under Section 3.2; that is, the portion
of the Participant's deferred Compensation that the Participant has elected to be deemed to be invested in a certain type of investment
Fund shall be credited to the investment fund subaccount to be invested in that Fund;
(b) Each business day, each investment fund subaccount of a Participant's Deferral Account shall be credited
with earnings or losses in an amount equal to that determined by multiplying the balance credited to such investment fund subaccount
as of the prior day plus contributions credited that day to the investment fund subaccount by the Interest Rate for the corresponding
Fund as determined by the Company pursuant to Section 3.2(b); and
(c) In the event that a Participant elects for a given Plan Year's deferral of Compensation a Scheduled
Distribution, all amounts attributed to the deferral of Compensation for such Plan Year shall be accounted for in a manner which
allows separate accounting for the deferral of Compensation and investment gains and losses associated with amounts allocated to
such each separate Scheduled Distribution.
4.2 Company Contribution Account. The Committee shall establish and maintain a Company Contribution Account for
each Participant under the Plan. Each Participant's Company Contribution Account shall be further divided into separate investment
fund subaccounts corresponding to the investment Fund elected by the Participant pursuant to Section 3.2(a). A Participant's
Company Contribution Account shall be credited as follows:
(a) On or before the fifth (5th) business day after a Company Contribution is made, the Company shall credit
the investment fund subaccounts of the Participant's Company
7