Common use of Compensation Reduction Limitations Clause in Contracts

Compensation Reduction Limitations. To insure continued qualification of the Plan, a test sometimes referred to as the "actual deferral percentage test" must be met for each Plan year. In order to meet the ADP test, it may be necessary to adjust contributions made by the Company resulting from the compensation reduction agreements entered into by certain of the participants. In the event that the contribution ratios of the Plan do not satisfy the test, the Administrative Committee shall adjust the contributions resulting from the compensation reduction agreements as follows effective January 1, 1997:

Compensation Reduction Limitations. To insure continued qualification of the Plan, a test sometimes referred to as the "“actual deferral percentage test" ” must be met for each Plan year. In order to meet the ADP test, it may be necessary to adjust contributions made by the Company resulting from the compensation reduction agreements entered into by certain of the participants. In the event that the contribution ratios of the Plan do not satisfy the test, the Administrative Committee shall adjust the contributions resulting from the compensation reduction agreements as follows effective January 1, 1997:

Compensation Reduction Limitations. To insure ensure continued qualification of the Plan, a test sometimes referred to as the "actual deferral percentage test" must be met for each Plan year. In order to meet the ADP test, it may be necessary to adjust contributions made by the Company resulting from the compensation reduction agreements entered into by certain of the participants. In the event that the contribution ratios of the Plan do not satisfy the test, the Administrative Committee shall adjust the contributions resulting from the compensation reduction agreements as follows effective January 1, 1997: