Before-Tax Contributions. Each Participant may elect to enter into a Salary Reduction Agreement with the Employer, in the manner prescribed by the Plan Administrator, pursuant to which the Employer shall make Before-Tax Contributions to the Plan on the Participant's behalf. Such election shall be applicable to all payroll periods within such Plan Year after the Enrollment Date following execution of the Salary Reduction Agreement. The terms of any such Salary Reduction Agreement shall provide that the Participant agrees to a reduction in Base Pay from the Employer equal to the amount to be contributed on his behalf for each pay period as Before-Tax Contributions, as set forth below.
(i) Participants who are Non-Highly Compensated Employees may elect to enter into a Salary Reduction Agreement with the Employer, in a manner prescribed by the Plan Administrator, pursuant to which the Employer will reduce a Participant's Base Pay in an amount equal to any whole percentage from 1% to 10% of Base Pay per payroll period and contribute such amount in the form of Before-Tax Contributions.
(ii) Participants who are Highly Compensated Employees may elect to enter into a Salary Reduction Agreement with the Employer, in a manner prescribed by the Plan Administrator, pursuant to which the Employer will reduce a Participant's Base Pay in an amount equal to any whole percentage from 1% to 10% of Base Pay per payroll period and contribute such amount in the form of Before-Tax Contributions.
(iii) The sum of Before-Tax Contributions may not exceed the lesser of $8,000 (or any other dollar amount imposed by the P.R. Code) or the applicable maximum percentages set forth in Section 4.1(a)(i)-(ii).
Before-Tax Contributions. Contributions made to the Plan by the Employer on a Member's behalf in accordance with the Member's elections to defer Compensation under the Plan's qualified cash or deferred arrangement as described in Section 3.1.
Before-Tax Contributions. (ELECTIVE DEFERRALS).
Before-Tax Contributions. Contributions made by the Plan Sponsor to the Plan in accordance with Section 5.1 pursuant to an election by a Participant to defer a portion of his or her Compensation into the Plan on a pre-tax basis before receipt of the Compensation or, if elected by the Plan Sponsor on its Adoption Agreement, pursuant to Automatic Enrollment.
Before-Tax Contributions. If a former Eligible Employee again becomes an Eligible Employee, he may again enroll as provided in Section 2.2(1) on the first Enrollment Date following the date he so again becomes an Eligible Employee by filing with the Administrative Committee at least 30 days (or such shorter period as the Committee shall determine) before such Enrollment Date an enrollment form prescribed in Section 2.2(1). A former Eligible Employee who again becomes an Eligible Employee and is employed by The Lincoln Electric Company but has not enrolled for purposes of having his Employer make Before-Tax Contributions with respect to his Base Compensation pursuant to the preceding sentence shall be deemed to have enrolled pursuant to Section 2.2(2) and Section 2.3. A former Employee who is not a former Eligible Employee may enroll as provided in Section 2.2(1) on the first Enrollment Date following the date he becomes an Eligible Employee pursuant to Section 2.1, or if he is employed by The Lincoln Electric Company and does not enroll for purposes of having his Employer make Before-Tax Contributions with respect to Base Compensation, he shall be deemed to have enrolled pursuant to Section 2.2(2) and Section 2.3.
Before-Tax Contributions. An Employee who transfers from non-covered employment with the Controlled Group to employment as a Covered Employee shall become an Eligible Employee under the Plan on the first Enrollment Date on which he is a Covered Employee.
Before-Tax Contributions. The contributions made pursuant to Section 3.1 of the Plan, elective deferral contributions made to the Weartech Plan on behalf of Former Weartech Plan Participants and elective deferral contributions made to the Xxxxxx Plan on behalf of Former Xxxxxx Plan Participants. Except as otherwise specifically provided in the Plan, the term “Before-Tax Contributions” when used herein shall include all Catch-Up Before-Tax Contributions, as defined in Section 3.11.
Before-Tax Contributions. (a) Each Eligible Employee may elect, in writing, to authorize the Employer to reduce his Compensation and make a corresponding Before-Tax Contribution to the Plan on his behalf. This reduction in Compensation must be in any whole percentage from 2% to 17% of such Compensation. Authorization to reduce Compensation shall be in writing and shall be delivered to the Committee no later than 30 days prior to the date as of which the Before-Tax Contribution becomes effective, unless the Committee agrees to accept a later authorization according to such uniform and nondiscriminatory rules as it may adopt. Such Compensation reduction shall continue unchanged until the Member terminates employment, changes or suspends the Before-Tax Contribution in accordance with Section 3.4 or 3.5, or transfers to the employment of a Nonparticipating Employer or an ineligible class of Employees.
(b) Except as provided under Section 2.4 for certain reemployed Members, regular Before-Tax Contributions made under Section 3.1(a) shall commence on an Entry Date.
(c) In addition to regular Before-Tax Contributions under Section 3.1(a), a Member may also elect once each calendar quarter, on such forms as the Committee may prescribe, to make a single sum reduction in Compensation which has not yet been received, but which is due to be paid in such quarter.
Before-Tax Contributions. A Participant may elect to reduce his Compensation for any period by a minimum of 1 percent and a maximum of [ELECT (a) OR (b)]:
(a) 16 percent (NOT TO EXCEED 16).
Before-Tax Contributions. The contributions made by an Employer on behalf of a Participant pursuant to the Participant's election to reduce his Compensation as described in Section A of Article V hereof.
