Common use of Elective Deferrals Clause in Contracts

Elective Deferrals. A Participant may enter into a Elective Deferrals Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.

Elective Deferrals. A Participant may enter into a Elective Deferrals Agreement with the Any Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount contributions made to the PlanPlan at the election of the Participant, in lieu of cash compensation, and shall include contributions made pursuant to a salary reduction agreement or other deferral mechanism. No Participant shall be permitted With respect to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, a Participant's Elective Deferral is the sum of all employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement as described in excess section 401(k) of the dollar limitation contained Code, any salary reduction simplified employee pension described in Code Section 402(gsection 408(k)(6), any SIMPLE IRA Plan described in §408(p), , any plan as described under section 501(c)(18), and any employer contributions made on the behalf of a Participant for the purchase of an annuity contract under section 403(b) pursuant to a salary reduction agreement. Elective Deferrals shall not include any deferrals properly distributed as excess annual addition. For years beginning after 2005, the term “elective Deferrals” includes Pre-tax Elective Deferrals and Xxxx Elective Deferrals. Pre-tax Elective Deferrals are a participant’s Elective Deferrals that are not includible in effect the participant’s gross income at the beginning time deferred. The Employer may, if notification is made within a reasonable time and in a manner described in IRS Revenue Ruling 2000-8, 2000-7 IRB617, allow for negative elections. If such administrative provision applies and the Employee does not affirmatively elect to not participate and the Employee does not affirmatively elect a different amount (including no amount), a default amount shall be deducted from the Employee’s Compensation. Such default amount shall be part of such taxable yearthe initial notification received by the Employer. ThusIf negative elections apply under the Plan, the $7,000 limit may Employer shall indicate whether the default shall be reduced if a Participant contributes pre-tax contributions to qualified plans of this Elective Deferral or other Employers. Any such contribution shall be credited to the Employee's a Xxxx Elective Deferrals Account. Unless otherwise specified Deferral in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.

Elective Deferrals. A Participant may enter into a Elective Deferrals Salary Savings Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation under Code Section 415(d) or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Salary Savings Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Salary Savings Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Salary Savings Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Salary Savings Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from no later than the Participant's pay. Elective Deferrals are permitted only date described in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009Section 2510.3-102 of the Department of Labor Regulations.

Elective Deferrals. In A 401(k) Plan (a) A Participant may enter into a Elective Deferrals Salary Deferral Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year the dollar limit under Code Section 402(g), as adjusted under Code Section 415(d), for inflation orthe Applicable Calendar Year, if lesser, or the percentage or dollar amount of Compensation specified in the Adoption Agreement. (b) Any Salary Deferral Agreement and to deposit such amount to may not be effective earlier than the latest date of the following: (1) The date of the Participant’s entry (or reentry) into the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by ; (2) the Employer, during any taxable year, in excess execution of the dollar limitation contained Participant’s Salary Deferral Agreement; (3) the date the Employer adopts the 401(k) Plan by executing the Adoption Agreement; (4) the Effective Date of the Elective Deferral provisions as specified in Code Section 402(gthe Adoption Agreement. (c) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals AccountDeferral account. Unless otherwise specified in the Adoption Agreement, a A Participant may terminate deferrals at any time. A Participant may amend his or her Elective Deferrals Salary Deferral Agreement to increase, increase or decrease his or terminate the her deferral percentage upon 30 days written notice in accordance with the provisions in the Adoption Agreement or such other uniform and nondiscriminatory procedures. The Employer shall determine the permitted frequency of such changes which shall be no less frequently than once each calendar year. Any such election will be effective as soon as practicable following the receipt of the notification by the Employer in accordance with uniform and nondiscriminatory procedures established and communicated to the EmployerParticipants. The Participant shall notify the Employer of any change in his or her deferral election in writing or in such other form or manner as permitted. The Employer may, notwithstanding any limit to the contrary in the Adoption Agreement, limit the maximum deferral percentage for Highly Compensated Employees. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Salary Deferral Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated as provided in the Adoption AgreementAgreement or any other uniform and nondiscriminatory procedures established. The Employer may also amend or terminate said agreement on written notice to the affected Participant. , if required to maintain the qualified status of the Plan. (d) If permitted by the Employer, when a Participant who has not authorized the Employer to withhold at the maximum rate annual deferral amount pursuant to Code Section 402(g) and desires to increase the total amount withheld for a Plan Year, such the Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Salary Deferral Agreement plus any additional amount deferred exceed the supplemental withholding exceed lesser of 25% of a Participant's Compensation for a or any other limitation elected in the Adoption Agreement by the Employer. (e) If the Plan Year. The Employer may also recharacterize as afterpermits Voluntary After-tax Voluntary Contributions and the Employer has elected in the Adoption Agreement, all or any portion of amounts previously withheld under any Elective Deferrals Salary Deferral Agreement may be recharacterized as Voluntary After-tax Contributions within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Year. (f) Elective Deferrals shall be deposited in the Plan’s Trust within 30 days as soon as administratively feasible after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003Compensation at the earliest date on which the contributions can reasonably be segregated from the Employer’s general assets, Nonstandardized Adoption Agreement 006but no later than the time prescribed by the Code, and Standardized Adoption Agreement 009ERISA or by applicable Treasury or Department of Labor Regulations.

Elective Deferrals. A Participant may enter into a Elective Deferrals Salary Savings Agreement with the Employer Employer, authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation under Code Section 415(d) or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Salary Savings Account. Unless otherwise specified in the Adoption adoption Agreement, a Participant may amend his or her Elective Deferrals Salary Savings Agreement to increase, decrease or terminate the percentage upon 30 days days, written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Salary Savings Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days days, notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Salary Savings Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from no later than the Participant's pay. Elective Deferrals are permitted only date described in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009Section 2510.3-102 of the Department of Labor Regulations.

Elective Deferrals. A Participant may enter into a Elective Deferrals Salary Savings Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation the amount specified in Code Section 402(g)(1)(B) or, if lesser, the percentage up to 100% of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. Notwithstanding anything in this Article to the contrary, the total Voluntary Contributions and Elective Deferrals shall not exceed 6% of the Plan Compensation for each Highly Compensated Employee and shall not exceed 100% of the Plan Compensation for each other Employee. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g402(g)(1)(B) in effect at the beginning of such taxable year. Thus, the $7,000 limit specified in Code Section 402(g)(1)(B) may be reduced if a Participant contributes pre-tax contributions to another qualified plans of this or other Employersplan maintained by the Employer. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption Agreement, a A Participant may amend his or her Elective Deferrals Salary Savings Agreement to increase, decrease or terminate the percentage upon on 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption AgreementAdministrator. The Employer Plan Administrator may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon on 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Salary Savings Agreement plus the supplemental withholding exceed 25100% of a Participant's Compensation for a Plan YearYear for non-Highly Compensated Employees or 6% of a Participant's Compensation for a Plan Year for Highly Compensated Employees. The Employer Plan Administrator may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Salary Savings Agreement within the Plan Year as provided for at paragraph 10.1010.8. This may be done to insure that the Plan will meet one of the antidiscrimination anti-discrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days the time required under applicable law after being withheld from the Participant's pay. 4. Elective Deferrals are permitted only in Standardized Adoption Agreement 003Effective as of October 1, Nonstandardized Adoption Agreement 0062002, and Standardized Adoption Agreement 009.the first sentence of Section 13.5 of the SEERT is hereby amended to read as follows:

Elective Deferrals. A Participant may enter into a Elective Deferrals Salary Savings Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation under Code Section 415(d) or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Salary Savings Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Salary Savings Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Salary Savings Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up If p to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Salary Savings Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Salary Savings Agreement within the Plan Year as provided for at paragraph 10.1010.9. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.

Elective Deferrals. A An active Participant may enter into a Elective Deferrals Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted elect to have Elective Deferrals made under this to the Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess as follows: (a) Pursuant to Section 15.08 of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption AgreementPlan, a Participant may amend his or her elect to have Elective Deferrals Agreement made on his behalf by entering into a written salary redirection agreement with the Employer that authorizes payroll deductions; provided, however, that any election will be subject to increase, decrease reduction by the Plan Administrator in accordance with Section 4.03. (b) A Participant's election to make or terminate change the percentage upon 30 days rate of Elective Deferrals will become effective as soon as administratively feasible after the date on which a completed salary redirection agreement is received by the Plan Administrator. A Participant may discontinue his Elective Deferrals any time by giving written notice to the EmployerPlan Administrator. If No election to make, discontinue, or change the rate of Elective Deferrals will be given retroactive effect. (c) A Participant who discontinues his Elective Deferrals during a Participant terminates his or her agreement, such Participant shall Plan Year may not be permitted to put enter into a new Elective Deferrals Agreement into effect until salary redirection agreement with the Employer that will become effective before the first pay period in day of the next Plan Year. A Participant who receives a hardship distribution as described in Treasury regulation section 1.401(k)-i (d)(2)(iv)(B) from any other Retirement Plan may not have Elective Deferrals made to the Plan for twelve months following receipt of the hardship distribution. (d) A former Eligible Employee who again becomes an Eligible Employee and who is or becomes a Participant upon reemployment may elect to have Elective Deferrals made on his behalf by signing and delivering to the Plan Administrator a salary redirection agreement, unless otherwise stated in which case the Adoption Agreement. The election will be given effect as soon as administratively feasible. (e) Elective Deferrals will be paid in cash to the Trustee by the Employer may also amend or terminate said agreement within a reasonable period after they are withheld from a Participant's pay and in no event later than the 15~ business day of the month following the month in which they were withheld. (f) Elective Deferrals made on written notice behalf of a Participant with respect to a Plan Year will be allocated to the Participant. If a Participant has not authorized 's Elective Deferral Account as of the Employer earlier of the date on which they are contributed to withhold at the maximum rate and desires to increase Trust or the total withheld for a last day of the Plan Year, such Participant . (g) The Plan Administrator may authorize establish additional nondiscriminatory rules and procedures governing the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% manner and timing of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all elections to make, change, or any portion of amounts previously withheld under any discontinue Elective Deferrals Agreement within the Plan Year as Deferrals, provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of rules and procedures are consistent with the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009Plan.

Elective Deferrals. An individual who is an Eligible Employee on the Effective Date may, by completing an Election Form and filing it with the Plan Administrator within 30 days following the Effective Date, elect to defer a percentage or dollar amount of one or more payments of Compensation, on such terms as the Plan Administrator may permit, which are payable to the Participant after the date on which the individual files the Election Form. Any individual who becomes an Eligible Employee after the Effective Date may, by completing an Election Form and filing it with the Plan Administrator within 30 days following the date on which the Plan Administrator gives such individual written notice that the individual an Eligible Employee, elect to defer a percentage or dollar amount of one or more payments of Compensation, on such terms as the Plan Administrator may permit, which are payable to the Participant after the date on which the individual files the Election Form. Any Eligible Employee who has not otherwise initially elected to defer Compensation in accordance with this Section 4.1 may elect to defer a percentage or dollar amount of one or more payments of Compensation, on such terms as the Plan Administrator may permit, commencing with Compensation paid in the next succeeding Plan Year, by completing an Election Form prior to the first day of such succeeding Plan Year. A Participant's Compensation shall be reduced in accordance with the Participant's election hereunder and amounts deferred hereunder shall be paid by the Employer to the Trust as soon as administratively feasible and credited to the Participant's Account as of the date the amounts are received by the Trustee. An election to defer a percentage or dollar amount of Compensation for any Plan Year shall apply for subsequent Plan Years unless changed or revoked. A Participant may enter into a Elective Deferrals Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan change or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend revoke his or her Elective Deferrals Agreement to increase, decrease or terminate deferral election as of the percentage upon 30 days first day of any Plan Year by giving written notice to the Employer. If a Participant terminates his or her agreement, Plan Administrator before such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all day (or any portion of amounts previously withheld under any Elective Deferrals Agreement within such earlier date as the Plan Year as provided for at paragraph 10.10. This Administrator may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(kprescribe). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.

Elective Deferrals. (100% vested): A Participant may enter into elect to have his or her Compensation reduced by the following percentage per pay period, or for a specified pay period or periods, as designated in writing to the Plan Administrator. Unless elected otherwise below, the Employer's contribution for Elective Deferrals Agreement with the Employer authorizing the Employer shall be made without regard to withhold current or accumulated profits. The amount which may be elected shall not be in excess of _____ percent of a portion of such Participant's Compensation not Compensation. Unless elected otherwise below, a Participant's election regarding Elective Deferrals shall apply to exceed $7,000 per calendar year his cash bonuses. a. A Participant may elect to commence Elective Deferrals as adjusted for inflation orof ________ (i.e., if lessereach entry date). Such election shall become effective as of the ____________ pay period following the pay period during which the Participant's election to commence Elective Deferrals was made, the percentage of Compensation specified in the Adoption Agreement and or as soon as administratively feasible thereafter. b. A Participant's election regarding Elective Deferrals SHALL NOT apply to deposit such amount to the Plan. Cash Bonuses. c. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, calendar year in excess of $7,000, multiplied by the dollar limitation contained in Code Section 402(g) Adjustment Factor. d. A Participant's election to have Elective Deferrals made pursuant to a salary reduction agreement shall remain in effect at until modified or terminated. e. The Employer shall make this contribution ONLY if it has earned sufficient current or accumulated profits. f. A Participant may modify the beginning amount of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Accountas of ________ (i.e., each entry date). Unless otherwise specified in Such modification shall become effective as of the Adoption Agreement, a Participant may amend his or her Elective Deferrals Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in following the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from period during which the Participant's pay. election to modify Elective Deferrals are permitted only in Standardized Adoption Agreement 003was made, Nonstandardized Adoption Agreement 006or as soon as administratively feasible thereafter. A Participant may CEASE Elective Deferrals at any time, and Standardized Adoption Agreement 009effective with the ______ pay period following the pay period during which the Participant's election to cease Elective Deferrals was made, or as soon as administratively feasible thereafter.

Elective Deferrals. A Participant may enter into a Elective Deferrals Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-after tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.

Elective Deferrals. A Participant may enter into a Elective Deferrals Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize re-characterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.