Employer Credits Sample Clauses

Employer Credits. Employer Credits will be made in the following manner:

Employer Credits. If designated by the Employer in the Adoption Agreement, the Employer shall cause the Committee to credit to the Deferred Compensation Account of each Active Participant an Employer Credit as determined in accordance with the Adoption Agreement. A Participant must make distribution elections with respect to any Employer Credits credited to his Deferred Compensation Account by the deadline that would apply under Section 4.1 for distribution elections with respect to Participant Deferral Credits credited at the same time, on a Participation Agreement that is timely executed and delivered to the Committee pursuant to Section 4.1.

Employer Credits. The Employer will make Employer Credits in the following manner: (a) Employer Discretionary Credits: The Employer may -- make discretionary credits to the Deferred Compensation Account of each Participant in an amount determined as follows: XX (i) An amount determined each Plan Year by the -- Employer.

Employer Credits. If designated by the Employer in the Adoption Agreement, the Employer shall cause the Committee to credit to the Deferred Compensation Account of each Active Participant an Employer Credit as determined in accordance with the Adoption Agreement.

Employer Credits. (Section 4.2 of the Plan) and Vesting (Section 6 of the Plan): Employer Credits will be made in the following manner: (a) Employer Credits not allowed.

Employer Credits. The Employer may, but need not, cause the Committee to credit to the Deferred Compensation Account of any Active Participant an Employer Discretionary or Profit Sharing Credit as determined by the Employer. As of the date of this restatement of the Plan, no Employer Credits are contemplated.

Employer Credits. (Section 4.2 of the Plan) and Vesting (Section 6 of the Plan): Employer Credits will be made in the following manner: (a) Employer Credits not allowed. (b) Restored 401(k) Match: The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined each Plan Year by the Employer. ☐ (i) Immediate 100% vesting. ☒ (ii) Number of Years of Service Vested Percentage Less than1 1 2 3 4 5 6 7 8 9 10 or more 0 % 0 % 0 % 100 % ______ % ______ % ______ % ______ % ______ % ______ % ______ % For this purpose, Years of Service of a Participant shall be calculated from the date designated below: (1) First day the Participant begins to provide services to the Employer and all Participating Employers (2) Each Crediting Date. Under this option (2), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Discretionary Credit is made to the Deferred Compensation Account.

Employer Credits. (a) The Employer shall credit to a Participant's Account, for the first Plan Year for which he or she is a Participant, a dollar amount equal to the level annual deposit required to provide for such Participant an annuity for life, commencing at his or her Retirement Date and payable monthly, in an amount equal to the target benefit computed under paragraph 1 of Exhibit A hereto, and using the actuarial assumptions specified in paragraph 2 of Exhibit A hereto. For each succeeding Plan Year for which the Participant is entitled to a credit, the Employer shall credit to the Participant's Account a dollar amount equal to the level annual deposit which, if made each year from such succeeding year through and until the last Plan Year beginning before the Participant's Retirement Date, will (when added to the projected future value (at Retirement Date) of the Participant's Account, as of the first day of such year, and using the actuarial assumptions specified in paragraph 2 of Exhibit A hereto) provide the annuity described in the preceding sentence. The credit shall be made as of the last day of the Plan Year in question. (b) The following persons shall be entitled to receive an Employer credit, pursuant to this Section 4.1: (i) Any Participant who is still an Eligible Employee on the last day of the Plan Year in question. (ii) Any Participant who terminated employment during the Plan Year by reason of Retirement. (iii) Any Participant who terminated employment during the Plan Year by reason of Disability.

Employer Credits. (a) The Employer shall credit to the Account of each Participant an amount each year designed to provide the Participant a benefit equal to the additional retirement benefit he or she would have received under the Pension Plan if such benefit were determined under the Pension Plan’s Defined Benefit Formula in effect December 31, 2001, but calculated applying the definition of Earnings contained herein. (b) The amount credited each Plan Year to the Account of a Participant shall be calculated as an actuarially determined level percentage of the Participant’s projected Earnings that amortizes the unfunded present value of the Restoration Benefit described below over the period remaining until the Participant attains Retirement Age. The Restoration Benefit shall be equal to the excess of: (i) the projected retirement benefit to which the Participant would have been entitled at Retirement Age if such benefit were calculated under the Pension Plan’s Defined Benefit Formula in effect December 31, 2001, but applying the definition of Earnings contained herein; over (ii) the projected retirement benefit payable to the Participant at Retirement Age under the Pension Plan’s Cash Balance Formula in effect April 1, 2002.

Employer Credits. Each Participant's Employer Credit Account shall be credited at the end of each calendar month with an Employer Credit equal to 7.5% of the Participant’s Earnings, from the first day of the first payroll period, any portion of which falls within such month, through the last payroll end date of such month. Notwithstanding the immediately preceding sentence, upon the completion of a Participant’s first Year of Eligibility Service, the Participant’s Employer Credit Account shall be credited with Employer Credits for the 12-month computation period used to satisfy the Year of Eligibility Service requirement. Effective as of March 1, 2007, each Participant’s Frozen Benefit Plus+ Account shall be credited at the end of each calendar month with an Employer Credit equal to 7.5% of the Participant’s Earnings from the first day of the first payroll period, any portion of which falls within such month, through the last payroll end date of such month.