Common use of Definition of Automatic Deferral Clause in Contracts

Definition of Automatic Deferral. An Automatic Deferral is an Elective Deferral that results from the operation of this Section 3.02(B). Under the Automatic Deferral, the Employer automatically will reduce by the Automatic Deferral Amount the Compensation of each Participant affected by the Automatic Deferral under Section 3.02(B)(3), except those Participants who timely make a Contrary Election under Section 3.02(B)(4).

Definition of Automatic Deferral. An Automatic Deferral is an Elective Deferral a Salary Reduction Contribution that results from the operation of this Section 3.02(B)Article III. Under the Automatic Deferral, the Employer automatically will reduce by the Automatic Deferral Amount Percentage as elected the Compensation of each Participant affected by subject to the EACA. The Plan Administrator will cease to apply the Automatic Deferral under Section 3.02(B)(3), except those Participants to a Participant who timely make a Contrary makes an Affirmative Election under Section 3.02(B)(4)as defined in this Section.

Definition of Automatic Deferral. An Automatic Deferral is an Elective Deferral a Salary Reduction Contribution that results from the operation of this Section 3.02(B)Article III. Under the Automatic Deferral, the Employer automatically will reduce by the Automatic Deferral Amount Percentage elected in this Amendment the Compensation of each Participant affected by subject to the EACA, as specified in Amendment Section 2.2. The Plan Administrator will cease to apply the Automatic Deferral under Section 3.02(B)(3), except those Participants to a Participant who timely make a Contrary makes an Affirmative Election under Section 3.02(B)(4)as defined in this Section.