Discretionary Company Contributions Sample Clauses

Discretionary Company Contributions. Only those Eligible Employees who have been designated, pursuant to Section 2.15(b), as being eligible to receive a Company contribution under this Section 5.2 shall be considered an Active Participant for purposes of this Section 5.2. The Company may, from time to time, allocate to the Account of any Active Participant such amount, if any, as is determined by the Committee (with respect to officers) or the Company (with respect to all other Eligible Employees) in its sole discretion with respect to such individual, subject to such conditions as the Committee or Company, as applicable, may determine. The discretionary contribution amount may vary from Plan Year to Plan Year and from Participant to Participant. Discretionary contributions shall be allocated to a Participant’s Account as of the Allocation Date. Notwithstanding the foregoing, a Participant who is eligible to receive a Company contribution under Section 5.1 for a Plan Year shall not be eligible to receive any discretionary company contributions hereunder for such Plan Year.
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Discretionary Company Contributions. Not later than the time -- ----------------------------------- prescribed by law for filing its federal income tax return (including extensions thereof) for its current taxable year and for each succeeding taxable year, the Company may contribute to the Trust fund, as its contribution to this Trust for the Plan Year which ends within or which is co-terminous with such taxable year of the Company, to be held in trust, administered and distributed under the terms of this Agreement, an amount or amounts which the Company, in its sole discretion may determine. The Company may contribute such amount or amounts at any time; and it may make such contribution in two or more installments. The Company shall determine by resolution of its Board of Directors and communicate to the Trustee before the close of each Plan Year either (i) the amount in dollars to be contributed for such year, or (ii) a formula by which such amount may be determined. These contributions shall be totally in the discretion of the Company with respect to amount, timing and form, and they need not be limited to the profits of the Company. The Company may make such contributions in cash or in kind. Nothing in this Agreement shall entitle any Trustee, Participating Employee or Beneficiary to inquire into or demand the right to inspect the books or records of the Company.
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Discretionary Company Contributions. Not later than the time - ----------------------------------- prescribed by law for filing its federal income tax return (including extensions thereof) for its current taxable year and for each succeeding taxable year, the Company may contribute to the Trust fund, as its contribution to this Trust for the Plan Year which ends within or which is co-terminous with such taxable year of the Company, to be held in trust, administered and distributed under the terms of this Agreement, an amount or amounts which the Company, in its sole discretion may determine. The Company may contribute such amount or amounts at any time; and it may make such contribution in two or more installments. The Company shall determine by resolution of its Board of Directors and communicate to the Trustee before the close of each Plan Year either (i) the amount in dollars to be contributed for such year, or (ii) a formula by which such amount may be determined. These contributions shall be totally in the discretion of the Company with respect to amount, timing and form, and they need not be limited to the Employee group for a Plan Year, the average of the ratios, calculated separately for each Participant in such group, of the amount of Salary Reduction Contributions allocated to each participant's Salary Reduction Contribution Account for such Plan Year to such Participant's Gross Compensation for such Plan Year. The actual deferral ratio for each Participant and the "Actual Deferral Percentage" for each group shall be calculated to the nearest one-hundredth of one percent. For the purpose of determining the actual deferral ratio of a Highly Compensated Employee who is subject to the Family Member aggregation rules of Code Section 414(q)(6) because such Participant is either a "five percent owner" of the Employer or one of the ten (10) Highly Compensated Employees paid the greatest "415 Compensation" during this year, the following shall apply: (1) The combined actual deferral ratio for the family group (which shall be treated as one Highly Compensated Employee) shall be determined by aggregating Salary Reduction Contributions and Gross Compensation of all eligible Family Members (including Highly Compensated Employees).
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Discretionary Company Contributions. Subject to the limitations of Article III(D) and (E), the Company shall in respect of each taxable year, within the time prescribed by law for filing its federal income tax return for such taxable year (including extensions thereof), contribute to the Trust in furtherance of the Plan, in cash or investments authorized under Article IX(G)(General Powers of Trustee), such amount, if any, as may be determined in the discretion of the Company by or in accordance with a resolution of its Board of Directors adopted within the time prescribed by law for filing its federal income tax return for such taxable year, including extensions thereof, any such amounts being herein called "Discretionary Company Contributions".
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Discretionary Company Contributions. The company at its discretion may contribute up to 3% of employee’s wages to a 401(k) plan on a matching basis each calendar year of the contract.
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Discretionary Company Contributions 
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Related to Discretionary Company Contributions

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Voluntary Contributions Subrecipient must assure that voluntary contributions shall be allowed and may be solicited in accordance with the following requirements [OAA § 315(b)]: 1. The Subrecipient or any subcontractors for any Title III or Title VII-A services shall not use means tests. 2. Any Title III or Title VII-A client that does not contribute toward the cost of the services received shall not be denied services. 3. Methods used to solicit voluntary contributions for Title III and Title VII-A services shall be non-coercive. 4. Each service provider will: a) Provide each recipient with an opportunity to voluntarily contribute to the cost of the service. b) Clearly inform each recipient that there is no obligation to contribute and that the contribution is purely voluntary. c) Protect the privacy and confidentiality of each recipient with respect to the recipient’s contribution or lack of contribution; and d) Establish appropriate procedures to safeguard and account for all contributions. e) Use all collected contributions to expand the services for which the contributions were given and to supplement (not supplant) funds received under this program.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

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