Mandatory Deferrals

Mandatory Deferrals. With respect to the WRECO Management Short-Term Incentive Plan, any Holdback Amounts within the meaning of such plan and, with respect to the WAM Incentive Compensation Plan, the fixed percentage of a Participant's Award specified in the Participant's offer letter or similar agreement subject to mandatory deferral prior to age 62 and irrevocable prior to the beginning of the calendar year to which such Mandatory Deferral relates