MoneyGram 2005 Annual Report Download - page 103

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MONEYGRAM INTERNATIONAL, INC.
DEFERRED COMPENSATION PLAN
Adopted February 16, 2006
SECTION 1
INTRODUCTION AND DEFINITIONS
1.1. Statement of Plan.
1.1.1. History. Effective January 1, 2006, MONEYGRAM INTERNATIONAL, INC. (hereinafter sometimes referred to as "MGI") and certain affiliated
corporations (together with MGI hereinafter sometimes collectively referred to as the "Employers" and separately as the "Employer") established a
nonqualified, unfunded deferred compensation plan known as the "MONEYGRAM INTERNATIONAL, INC. SUPPLEMENTAL 401(k) PLAN," which
permits eligible employees to defer Compensation and receive matching credits with respect to such deferrals. Effective in 2005, MGI also established a
nonqualified, unfunded deferred compensation plan known as the "MONEYGRAM INTERNATIONAL, INC. SUPPLEMENTAL PROFIT SHARING
PLAN," which provided eligible employees with supplemental profit sharing credits and was merged with and continues to be operated under the terms of this
Plan. Now, effective as of the date adopted by MGI's Board of Directors, this Plan is hereby amended and restated to permit eligible employees to elect to
defer certain incentive pay awards under the Plan. The Plan, as amended and restated, shall be known as the "MONEYGRAM INTERNATIONAL, INC.
DEFERRED COMPENSATION PLAN".
1.1.2. Purpose. MGI has established this nonqualified, unfunded, deferred compensation plan which contains three components:
(a) the first component allows a select group of management and highly compensated employees whose elective Pre-Tax Deferrals for a Plan Year
under the MoneyGram International, Inc. 401(k) Plan are expected to be limited under section 402(g) of the Code to defer the receipt of
Compensation which would otherwise be paid to those employees, and to receive matching credits with respect to such deferrals;
(b) the second component allows a select group of management and highly compensated employees whose Profit Sharing Contribution for a Plan Year
under the MoneyGram International, Inc. 401(k) Plan was reduced by sections 401(a)(17) and 415 of the Code or any other legal limitations to
receive a supplemental profit sharing credit under this Plan; and
(c) the third component allows a select group of management and highly compensated employees to defer receipt of Incentive Pay which would