Common use of ACCRUAL OF BENEFIT Clause in Contracts

ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b)) (a) The Employee's Compensation for the entire Plan Year. (b) The Employee's Compensation for the portion of the Plan Year in which the Employee actually is a Participant in the Plan, except: (Choose (1) or (2))

Appears in 2 contracts

Samples: Adoption Agreement (American Stone Industries Inc), Adoption Agreement (Ifb Holdings Inc)

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ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any cash or deferred contribution, designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b)) (a) The Employee's Compensation for the entire Plan Year. (b) The Employee's Compensation for the portion of the Plan Year in which the Employee actually is a Participant in the Plan, except: (Choose (1) or (2)).

Appears in 1 contract

Samples: 401(k) Plan Adoption Agreement (Quicksilver Resources Inc)

ACCRUAL OF BENEFIT. Compensation taken into accountCOMPENSATION TAKEN INTO ACCOUNT. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any designated qualified nonelective contribution or nonelective contribution under Adoption Agreement Section 3.04 by taking into account: (Choose (a) or (b)) (a) The Employee's Compensation for the entire Plan Year.. [x] (b) The Employee's Compensation only for the portion of the Plan Year in which the Employee actually is a Participant in the Plan, except: (Choose (1) or (2))

Appears in 1 contract

Samples: Adoption Agreement (Timberland Bancorp Inc)

ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any cash or deferred contribution, designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b)) (a) The Employee's Compensation for the entire Plan Year. (b) The Employee's Compensation for the portion of the Plan Year in which the Employee actually is a Participant in the Plan, except: (Choose (1) or (2)).

Appears in 1 contract

Samples: Adoption Agreement (Ce Software Inc)

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ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any cash or deferred contribution, designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b)) (a) The Employee's Compensation for the entire Plan Year. . [N/A] (b) The Employee's Compensation for the portion of the Plan Year in which the Employee actually is a Participant in the Plan, except: (Choose (1) or (2)).

Appears in 1 contract

Samples: Adoption Agreement (Channell Commercial Corp)

ACCRUAL OF BENEFIT. Compensation taken into accountCOMPENSATION TAKEN INTO ACCOUNT. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b)) (a) The Employee's Compensation for the entire Plan Year.. [ ] (b) The Employee's Compensation for the portion of the Plan Year in which the Employee actually is a Participant in the Plan, except: (Choose (1) or (2))

Appears in 1 contract

Samples: Defined Contribution Prototype Plan and Trust Agreement (High Country Bancorp Inc)

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