Starwood 2008 Annual Report Download - page 47

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VIII. NONQUALIFIED DEFERRED COMPENSATION
The Company’s Deferred Compensation Plan (the “Plan”) permits eligible executives, including our Named
Executive Officers, to defer up to 100% of their Executive Plan or Executive AIP bonus, as applicable, and up to
75% of their base salary for a calendar year. The Company does not contribute to the Plan. Mr. van Paasschen made
deferrals under the Plan in 2008 but no other Named Executive Officer did.
Name
Executive
Contributions in
Last FY
($)
Registrant
Contributions
in Last FY
($)
Aggregate
Earnings
in Last FY
($)
Aggregate
Withdrawals/
Distributions
($)
Aggregate
Balance at
Last FYE
($)
van Paasschen .......... 500,000 — (128,686) — 371,314
Prabhu ................ — — — — —
Siegel ................. — — — — —
Avril .................. — — — — —
McAveety .............. — — — — —
Turner ................ — — — — —
Deferral elections are made in December for base salary paid in pay periods beginning in the following
calendar year. Deferral elections are made in June for annual incentive awards that are earned for performance in
that calendar year but paid in March of the following year. Deferral elections are irrevocable.
Elections as to the time and form of payment are made at the same time as the corresponding deferral election.
A participant may elect to receive payment on February 1 of a calendar year while still employed or either 6 or
12 months following employment termination. Payment will be made immediately in the event a participant
terminates employment on account of death, disability or on account of certain changes in control. A participant
may elect to receive payment of his account balance in either a lump sum or in annual installments, so long as the
account balance exceeds $50,000; otherwise payment will be made in a lump sum.
If a participant elects an in-service distribution, the participant may change the scheduled distribution date or
form of payment so long as the change is made at least 12 months in advance of the scheduled distribution date. Any
such change must provide that distribution will commence at least five years later than the scheduled distribution
date. If a participant elects to receive distribution upon employment termination, that election and the corre-
sponding form of payment election are irrevocable. Withdrawals for hardship that results from an unforeseeable
emergency are available, but no other unscheduled withdrawals are permitted.
35