Common use of Employer Discretionary Clause in Contracts

Employer Discretionary. Contributions The following provisions shall apply if the Employer has elected in the Adoption Agreement to make Employer Discretionary Contributions. (a) If the Plan is not integrated with Social Security, the Employer Discretionary Contribution for any Plan Year shall be allocated to the XXX established for each Participant in the ratio which each Participant's Compensation for the Plan Year bears to that of all Participants for such Plan Year. (b) If the Plan is integrated with Social Security, the Employer Discretionary Contribution shall be allocated as follows: (i) If under Article V, the Plan is Top-Heavy for the Plan Year and the minimum Top-Heavy contribution is made under the Plan, then contributions shall be allocated to each Participant's XXX in the ratio that each Participant's aggregate Compensation bears to that of all Participants for the Plan Year, up to three percent (3%) of each Participant's aggregate Compensation for the Plan Year. Any remaining contributions shall be allocated to each Participant's XXX in the ratio that each Participant's Compensation in excess of the Integration Level bears to the sum of all Participant's Compensation in excess of the Integration Level for the Plan Year, up to three V (3%) of each Participant's Compensation for the Plan Year in excess of the Integration Level. (ii) If the Plan is not Top-Heavy for the Plan Year, contributions (or if the Plan is Top-Heavy, contributions remaining after step (i) above) shall be allocated to each Participant's XXX in the ratio that the sum of each Participant's aggregate Compensation and Compensation in excess of the Integration Level bears to the sum of all Participants' aggregate Compensation and Compensation in excess of the Integration Level for the Plan Year, up to the product of (a) the Permitted Disparity Percentage as specified in the Adoption Agreement (reduced by three percent (3%) if the Plan is Top-Heavy) times (b) each Participant's aggregate Compensation plus Compensation in excess of the Integration Level for the Plan Year. Any remaining contributions will be allocated to all Participants in the ratio that each Participant's aggregate Compensation bears to all Participants' aggregate Compensation for the Plan Year. (c) Employer Discretionary Contributions will be paid by the Employer to Participants' XXX within the time period prescribed in Section 404(h) of the Code.

Employer Discretionary. Contributions The following provisions shall apply if the Employer has elected in the Adoption Agreement to make Employer Discretionary Contributions. (a) If the Plan is not integrated with Social Security, the Employer Discretionary Contribution for any Plan Year shall be allocated to the XXX IRA established for each Participant Participxxx in the ratio which each Participant's Compensation for the Plan Year bears to that of all Participants for such Plan Year. (b) If the Plan is integrated with Social Security, the Employer Discretionary Contribution shall be allocated as follows: (i) If under Article V, the Plan is Top-Heavy for the Plan Year and the minimum Top-Heavy contribution is made under the Plan, then contributions shall be allocated to each Participant's XXX IRA in the ratio that each ParticipantParticxxxnt's aggregate Compensation bears to that of all Participants for the Plan Year, up to three percent (3%) of each Participant's aggregate Compensation for the Plan Year. Any remaining contributions shall be allocated to each Participant's XXX IRA in the ratio that each ParticipantParticxxxnt's Compensation in excess of the Integration Level bears to the sum of all Participant's Compensation in excess of the Integration Level for the Plan Year, up to three V (3%) of each Participant's Compensation for the Plan Year in excess of the Integration Level. (ii) If the Plan is not Top-Heavy for the Plan Year, contributions (or if the Plan is Top-Heavy, contributions remaining after step (i) above) shall be allocated to each Participant's XXX IRA in the ratio that the sum of each xxxh Participant's aggregate Compensation and Compensation in excess of the Integration Level bears to the sum of all Participants' aggregate Compensation and Compensation in excess of the Integration Level for the Plan Year, up to the product of (a) the Permitted Disparity Percentage as specified in the Adoption Agreement (reduced by three percent (3%) if the Plan is Top-Heavy) times (b) each Participant's aggregate Compensation plus Compensation in excess of the Integration Level for the Plan Year. Any remaining contributions will be allocated to all Participants in the ratio that each Participant's aggregate Compensation bears to all Participants' aggregate Compensation for the Plan Year. (c) Employer Discretionary Contributions will be paid by the Employer to Participants' XXX IRA within the time period prescribed prescrxxxd in Section 404(h) of the Code.