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SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

3 Months Ended

Mar. 31, 2012

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN [Abstract]

10.	SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

On March 18, 2010, the Compensation Committee and the Board of Directors of the Company approved and adopted the Universal Display Corporation Supplemental Executive Retirement Plan (SERP), effective as of April 1, 2010. The purpose of the SERP, which is unfunded, is to provide certain of the Company's executive officers with supplemental pension benefits following a cessation of their employment. As of March 31, 2012, there were five participants in the SERP. The SERP benefit is based on a percentage of the participant's annual base salary and the number of years of service.

The Company records amounts relating to the SERP based on calculations that incorporate various actuarial and other assumptions, including discount rates, rate of compensation increases, retirement dates and life expectancies. The net periodic costs are recognized as employees render the services necessary to earn the SERP benefits.

The components of net periodic pension cost were as follows for the three months ended March 31 (in thousands),

	2012		2011
Service cost	$	144	$	136
Interest cost		96		96
Amortization of prior service cost		146		146
Amortization of actuarial loss		2		4
Total net periodic benefit cost	$	388	$	382

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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