DISCRETIONARY PROFIT SHARING CONTRIBUTIONS Sample Clauses

DISCRETIONARY PROFIT SHARING CONTRIBUTIONS. (Section 4.1 of the Plan; check one).
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DISCRETIONARY PROFIT SHARING CONTRIBUTIONS. A Discretionary Profit Sharing Contribution subaccount to which shall be credited (or debited, as the case may be) (i) the Participant's share of Discretionary Profit Sharing Contributions allocated under Section 5.1(b); (ii) the allocable expenses and net earnings or net losses on the investment of the assets of such subaccount; and (iii) distributions from such subaccount.
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DISCRETIONARY PROFIT SHARING CONTRIBUTIONS. Contributions of the Employer to the Plan and Trust as described in Section 3.3(b)
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DISCRETIONARY PROFIT SHARING CONTRIBUTIONS. If the Employer elects in the Adoption Agreement to make Discretionary Profit Sharing Contributions, the Employer may contribute to the Trust an amount as may be determined by the Employer for each Plan Year. Subject to the minimum top-heavy allocation rules of Section 12.3 and the exclusions specified in this subsection. Discretionary Profit Sharing Contributions for a Plan Year shall be allocated to the Accounts of those Participants specified by the Employer in the Adoption Agreement and shall be allocated to Participants in accordance with the provisions of Section 7.1(b) and the Adoption Agreement.
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DISCRETIONARY PROFIT SHARING CONTRIBUTIONS. Employer Profit Sharing contributions under the Plan shall be made solely at the discretion of the Employer pursuant to Section 4.1 of the Plan, and shall be allowed up to the maximum amount specified in Section 5.5 of the Plan. Determination by the Employer to make a Discretionary Profit Sharing Contribution, and Elective Deferral Contributin, a Qualified Matching Contribution, a Qualified Non- Elective Contribution or a Matching Contribution shall be made without regard to current or accumulated profits. Forfeitures of Employer Profit Sharing Contributions shall be added to and allocated with the Employer's Contribution.
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DISCRETIONARY PROFIT SHARING CONTRIBUTIONS. IF THE ADOPTION AGREEMENT SO PROVIDES, ANY PORTION OF THE EMPLOYER'S DISCRETIONARY CONTRIBUTION NOT ALLOCATED UNDER SECTION 3.4.2, SECTION 3.4.3 AND SECTION 3.4.4 SHALL BE ALLOCATED TO THE EMPLOYER CONTRIBUTIONS ACCOUNTS OF ELIGIBLE PARTICIPANTS UNDER SECTION 3.5. THE DISCRETIONARY CONTRIBUTION FOR A PLAN YEAR SHALL BE ALLOCATED TO THE EMPLOYER CONTRIBUTIONS ACCOUNTS OF ELIGIBLE PARTICIPANTS UNDER THE FORMULA SET FORTH IN SECTION 3.4.5(a) OR SECTION 3.4.5(b) AS INDICATED IN THE ADOPTION AGREEMENT.
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DISCRETIONARY PROFIT SHARING CONTRIBUTIONS 
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Related to DISCRETIONARY PROFIT SHARING CONTRIBUTIONS

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 10 of the Adoption Agreement after completing ________ (enter 0, 1, 2 or any fraction less than 2)

  • 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.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

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

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • PARTICIPANT NONDEDUCTIBLE CONTRIBUTIONS The Plan: (Choose (a) or (b); (c) is available only with (b)) [X] (a) Does not permit Participant nondeductible contributions. [ ] (b) Permits Participant nondeductible contributions, pursuant to Section 14.04 of the Plan.

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