|JONES LANG LASALLE INC filed this Form S-1/A on 07/11/1997|
Salary Deferral Elections
This Section 5 does not take effect until the administrator selects
an effective date. At the time authorized by the administrator, an employee
designated as a participant for a calendar year may irrevocably elect to defer a
portion of his salary for that year. All salary deferral elections are subject
to minimum amounts established by the administrator. A participant's "salary"
means the participant's total base pay as paid by an employer hereunder, and for
purposes of a deferral election a participant's rate of base pay on January 1
of any year shall be considered to remain at the same rate during that calendar
year. A participant must make his salary deferral election in advance by
signing a salary deferral agreement and filing it with the administrator no
later than the December 31 which precedes the calendar year to which the
election relates. A participant's salary deferral election filed with the
administrator is irrevocable on and after the deadline for the election. Salary
deferrals will be credited to participants' deferral accounts as described in
subsection 4.4 and will be subject to the same distribution elections available
under subsection 4.3.
© Copyright Jones Lang LaSalle, IP, Inc.