Donaldson Company, Inc. Agreement to Defer Compensation
This agreement allows an employee of Donaldson Company, Inc. to defer a portion of their compensation for a specified fiscal year. The employee can choose the amount to defer, when and how to receive the deferred compensation, and designate a beneficiary. The deferred amount will earn interest at the same rate as the company's Employee Retirement Savings Plan. The deferred funds are not held in trust, and the employee is considered a general unsecured creditor of the company for these amounts.
Exhibit 10.G
AGREEMENT TO DEFER COMPENSATION
I, ___________________ am making the following elections for the deferral of my _______________ compensation for fiscal year______________. The designation of beneficiary made below shall continue until revoked or amended pursuant to a written notice sent to the Human Resources Administrator.
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| o | State % or Amount: ___________________ (5% increments) | |
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| Elect to receive deferred compensation on: | ||
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| o | Specified Date | _________________________ |
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| o | Age | _________________________ |
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| o | Specified Occurrence | _________________________ |
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| Elect to receive deferred compensation in the following form: | |
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| o | Lump Sum |
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| o | Equal Quarterly Installments for ________ number of years |
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| o | Equal Quarterly Installments for _________ dollars |
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| o | Other Manner _____________________________________________ |
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| Beneficiary Designation: | |
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| o | Payable to my estate in a lump sum |
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| o | Payable in installments to ____________________________ as beneficiary |
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| o | Payable in lump sum to ________________________________ as beneficiary |
It is understood that the Company shall include interest on such deferred income in the same manner, at the same rate and at the same time applied in the Fixed Income Option of the Company’s Employee’s Retirement Savings Plan. I understand that the deferral account shall not be held by the Company in a trust, escrow or similar fiduciary capacity and that I or my representative have no right with respect to such account except as a general unsecured creditor of the Company.
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| DATE: | ________________________________ | _________________________________________________ |
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| Accepted: | ||
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| BY | _____________________________ |
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| ITS | _____________________________ |
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