The Deferred Compensation Plan (hereinafter referred to as the "Plan" and known as the Pierce County Deferred Compensation Plan) first adopted by the Pierce County Executive on January 1, 1984, pursuant to Resolution R83-89 of the Pierce County Council, and amended by Order of the Pierce County Executive dated January 4, 1987, as amended and restated herein is adopted and ratified effective December 1, 1990, for Pierce County (hereinafter "Employer").

The Employer established this Plan effective January 1, 1984, to enable employees who become covered under the Plan to enhance their retirement security by permitting them to enter into agreements with the Employer to defer compensation and receive benefits at retirement, death, severance from employment, and for financial hardships due to unforeseeable emergencies.

The Plan shall be maintained for the exclusive benefit of covered employees, and is intended to comply with the eligible deferred compensation plan requirements of Section 457 of the Internal Revenue Code of 1986, as amended, and regulations thereunder, and other applicable law.