Common use of ALLOCATION OFFSET Clause in Contracts

ALLOCATION OFFSET. The Administrative Committee will reduce a Participant's allocation otherwise made under Part II of this Section 3.04 by the Participant's allocation under the following qualified plan(s) maintained by the Employer: ___. The Administrative Committee will determine this allocation reduction: (Choose (1) or (2)) (1) By treating the term "profit sharing contribution" as including all amounts paid or accrued by the Employer during the Plan Year to the qualified plan(s) referenced under this Option (j). If a Participant under this Plan also participates in that other plan, the Administrative Committee will treat the amount the Employer contributes for or during a Plan Year on behalf of a particular Participant under such other plan as an amount allocated under this Plan to that Participant's Account for that Plan Year. The Administrative Committee will make the computation of allocation required under the immediately preceding sentence before making any allocation of profit sharing contributions under this Section 3.04.

ALLOCATION OFFSET. The Administrative Committee will reduce a Participant's allocation otherwise made under Part II of this Section 3.04 by the Participant's allocation under the following qualified plan(s) maintained by the Employer: ___. The Administrative Committee will determine this allocation reduction: (Choose (1) or (2)) (1) By treating the term "profit sharing contribution" as including all amounts paid or accrued by the Employer during the Plan Year to the qualified plan(s) referenced under this Option (j). If a Participant under this Plan also participates in that other plan, the Administrative Committee will treat the amount the Employer contributes for or during a Plan Year on behalf of a particular Participant under such other plan as an amount allocated under this Plan to that Participant's Account for that Plan Year. The Administrative Committee will make the computation of allocation required under the immediately preceding sentence before making any allocation of profit sharing contributions under this Section 3.04. (2) In accordance with the formula provided in an addendum to this Adoption Agreement, numbered 3.04(j).