Common use of 401(k) Plan Clause in Contracts

401(k) Plan. ⎯ During the term of this Agreement, the Company will make a matching contribution to the ATU National 401(k) Plan for each eligible participating employee which is the greater of: (i) 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution, or (ii) 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. Employees who work 1,000 hours or more in a calendar year are eligible for Company matching contributions in the 401(k) Plan. Company matching contributions for eligible employees will be made on a quarterly basis, as soon as practicable following the end of each calendar quarter, but in no event later than 90 days following the end of the calendar quarter. The amount of the quarterly matching contribution will be determined in accordance with the formula in (i) above; i.e., it will equal 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution. At the end of each calendar quarter the Company will determine which employees who have made elective deferrals to the Plan within the current year have worked at least 1,000 hours in the year to date, and will make Company matching contributions on behalf of those employees as described in the preceding sentence. Any employee who fails to meet the 1,000 hour requirement as of the last day of a calendar quarter will be reexamined at the end of the next calendar quarter and matches will commence once the 1,000 hour threshold is met. At the end of each calendar year, the Company will determine whether any employees would be entitled to a greater matching contribution under the formula in (ii) above, i.e., 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. If a match eligible employee would be entitled to a greater match under formula (ii) than under formula (i), the final match for the year will be made in an amount that would true up the employee and make the employee whole as if formula (ii) had been applied in lieu of formula (i) for the year. There will be no obligation for the Company to make a contribution of any additional amount to reflect earnings on true up amounts.

401(k) Plan. ⎯  During the term of this Agreement, the Company will make a matching contribution to the ATU National 401(k) Plan for each eligible participating employee which is the greater of: (i) 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution, or (ii) 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. Employees who work 1,000 hours or more in a calendar year are eligible for Company matching contributions in the 401(k) Plan. Company matching contributions for eligible employees will be made on a quarterly basis, as soon as practicable following the end of each calendar quarter, but in no event later than 90 days following the end of the calendar quarter. The amount of the quarterly matching contribution will be determined in accordance with the formula in (i) above; i.e., it will equal 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution. At the end of each calendar quarter the Company will determine which employees who have made elective deferrals to the Plan within the current year have worked at least 1,000 hours in the year to date, and will make Company matching contributions on behalf of those employees as described in the preceding sentence. Any employee who fails to meet the 1,000 hour requirement as of the last day of a calendar quarter will be reexamined at the end of the next calendar quarter and matches will commence once the 1,000 hour threshold is met. At the end of each calendar year, the Company will determine whether any employees would be entitled to a greater matching contribution under the formula in (ii) above, i.e., 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. If a match eligible employee would be entitled to a greater match under formula (ii) than under formula (i), the final match for the year will be made in an amount that would true up the employee and make the employee whole as if formula (ii) had been applied in lieu of formula (i) for the year. There will be no obligation for the Company to make a contribution of any additional amount to reflect earnings on true up amounts.

401(k) Plan. ⎯ During the term of this AgreementAgree- ment, the Company will make a matching contribution to the ATU National 401(k) Plan for each eligible participating employee which is the greater of: (i) 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary xxx- ary reduction contribution, or (ii) 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. Employees who work 1,000 hours or more in a calendar year are eligible for Company matching contributions in the 401(k) Plan. Company matching contributions for eligible employees will be made on a quarterly basis, as soon as practicable following the end of each calendar quarter, but in no event later than 90 days following fol- lowing the end of the calendar quarter. The amount of the quarterly matching contribution will be determined in accordance with the formula in (i) above; i.e., it will equal 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution. At the end of each calendar calen- dar quarter the Company will determine which employees who have made elective deferrals to the Plan within the current year have worked at least 1,000 hours in the year to date, and will make Company matching contributions on behalf of those employees as described in the preceding sentence. Any employee who fails to meet the 1,000 hour requirement as of the last day of a calendar quarter will be reexamined at the end of the next calendar quarter quar- ter and matches will commence once the 1,000 hour threshold is met. At the end of each calendar year, the Company will determine whether any employees would be entitled to a greater matching contribution under the formula in (ii) above, i.e., 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. If a match eligible employee would be entitled to a greater match under formula for- mula (ii) than under formula (i), the final match for the year will be made in an amount that would true up the employee and make the employee whole as if formula (ii) had been applied in lieu of formula for- mula (i) for the year. There will be no obligation for the Company to make a contribution of any additional amount to reflect earnings on true up amounts.

401(k) Plan. ⎯ During the term of this AgreementAgree- ment, the Company will make a matching contribution to the ATU National 401(k) Plan for each eligible participating employee which is the greater of: (i) 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction re- duction contribution, or (ii) 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. Employees who work 1,000 hours or more in a calendar year are eligible for Company matching contributions contri- butions in the 401(k) Plan. Company matching contributions for eligible employees will be made on a quarterly basis, as soon as practicable following the end of each calendar quarter, but in no event later than 90 days following the end of the calendar quarter. The amount of the quarterly matching match- ing contribution will be determined in accordance with the formula in (i) above; i.e., it will equal 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary xxx- ary reduction contribution. At the end of each calendar quarter the Company will determine which employees who have made elective deferrals to the Plan within the current year have worked at least 1,000 hours in the year to date, and will make Company matching contributions on behalf of those employees as described in the preceding pre- ceding sentence. Any employee who fails to meet the 1,000 1,000-hour requirement re- quirement as of the last day of a calendar quarter will be reexamined at the end of the next calendar quarter and matches will commence once the 1,000 1,000-hour threshold is met. At the end of each calendar year, the Company will determine whether any employees would be entitled to a greater matching contribution under the formula in (ii) above, i.e., 50% of the first six percent of an eligible employee’s annual an- nual compensation elected by the employee to defer as a salary reduction re- duction contribution. If a match eligible employee would be entitled to a greater match under formula (ii) than under formula (i), the final match for the year will be made in an amount that would true up the employee and make the employee whole as if formula (ii) had been applied in lieu of formula (i) for the year. There will be no obligation for the Company to make a contribution of any additional amount to reflect earnings on true up amounts.

401(k) Plan. ⎯ During the term of this Agreement, the Company will make a matching contribution to the ATU National 401(k) Plan for each eligible participating employee which is the greater of: (i) 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution, or (ii) 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. Employees who work 1,000 hours or more in a calendar year are eligible for Company matching contributions in the 401(k) Plan. Company matching contributions for eligible employees will be made on a quarterly basis, as soon as practicable following the end of each calendar quarter, but in no event later than 90 days following the end of the calendar quarter. The amount of the quarterly matching contribution will be determined in accordance with the formula in (i) above; i.e., it will equal 100% of as much of the first $1,200 of annual compensation as is elected by the employee to defer as a salary reduction contribution. At the end of each calendar quarter the Company will determine which employees who have made elective deferrals to the Plan within the current year have worked at least 1,000 hours in the year to date, and will make Company matching contributions on behalf of those employees as described in the preceding sentence. Any employee who fails to meet the 1,000 1,000-hour requirement as of the last day of a calendar quarter will be reexamined at the end of the next calendar quarter and matches will commence once the 1,000 1,000-hour threshold is met. At the end of each calendar year, the Company will determine whether any employees would be entitled to a greater matching contribution under the formula in (ii) above, i.e., 50% of the first six percent of an eligible employee’s annual compensation elected by the employee to defer as a salary reduction contribution. If a match eligible employee would be entitled to a greater match under formula (ii) than under formula (i), the final match for the year will be made in an amount that would true up the employee and make the employee whole as if formula (ii) had been applied in lieu of formula (i) for the year. There will be no obligation for the Company to make a contribution of any additional amount to reflect earnings on true up amounts.