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Deferral Program
As of Year-End 2019

Deferral Table

Effective Deferral Rate for
Marginal Deferral Rate Entire Amount Subject to
Amount Subject to Deferral Applicable to Such Portion Deferral *
$0 - 100,000 0.0% 0.0%
$100,001 - 200,000 15.0% 7.5%
$200,001 - 500,000 20.0% 15.0%
$500,001 - 750,000 30.0% 20.0%
$750,001 – 1,250,000 40.0% 28.0%
$1,250,001 - 2,000,000 45.0% 34.4%
$2,000,001 - 3,000,000 50.0% 39.6%
$3,000,001 - 4,000,000 55.0% 43.4%
$4,000,001 - 5,000,000 60.0% 46.8%
$5,000,000 + 65.0% 52.8%

* Effective Deferral Rates are shown for illustrative purposes only and are based on an annual cash
payment equal to the maximum amount in the range shown in the far left column (which is assumed to be
$7,500,000 for the last range shown).