Common use of Employer Matching Contributions Clause in Contracts

Employer Matching Contributions. To the extent a Participant has made the maximum elective deferral to the Coventry Health Care, Inc. Retirement Savings Plan (the “401(k) Plan”), the Employer will credit an Employer Matching Contribution on behalf of the Participant if he is employed on the last day of the Plan Year. The amount of the Employer Matching Contribution will be equal to the 401(k) Plan Employer Matching Contribution, as defined in the 401(k) Plan document, applied to the sum of the Participant’s elective deferrals to the 401(k) Plan for the Plan Year, less matching contributions made by the Employer to the 401(k) Plan for the Participant. In no event will the aggregate Employer Matching Contribution to this Plan and the 401(k) Plan exceed 4.5% of the Participant’s Compensation. The Employer Matching Contribution will be credited to the Participant’s Deferred Compensation Account within 120 days after the end of the Plan Year. Notwithstanding the above, for Plan Years beginning on or after January 1, 2003, to the extent a Participant has made the maximum elective deferral to the 401(k) Plan, exclusive of any Catch-up Contribution such Participant may be eligible to make to the 401(k) Plan, the Participant shall be eligible for an Employer Matching Contribution if he is employed on the last day of the Plan Year. The amount of the Employer Matching Contribution for the Plan Year shall be calculated by applying the matching contribution formula in the 401(k) Plan, but using Compensation as defined herein rather than compensation as defined in the 401(k) Plan, to the sum of the Participant’s elective deferrals to the 401(k) Plan and the Participant’s Deferred Compensation under this Plan, less any amount contributed by the Employer to the 401(k) Plan as a matching contribution on behalf of the Participant for the same Plan Year. The Employer Matching Contribution will be credited to the Participant’s Deferred Compensation Account within 120 days after the end of the Plan Year.

Employer Matching Contributions. To If selected by the extent a Participant has made Employer in the maximum elective deferral to the Coventry Health Care, Inc. Retirement Savings Plan (the “401(k) Plan”)Adoption Agreement, the Employer will credit make an Employer Matching Contribution on behalf (for allocation together with forfeitures under Section 8.02 below) to the Participant's Employer Matching Contribution Account for each eligible Participant for each Plan Year that a contribution within one or more of the contribution categories selected by the Employer in the Adoption Agreement (i.e., Salary Reduction Contributions, Deferred Cash Contributions, or Nondeductible Voluntary Contributions) is allocated to the eligible Participant's Account. The Employer Matching Contribution made for an eligible Participant if he is shall be in an amount equal to at least the percentage specified in the applicable section of the Adoption Agreement multiplied by the aggregate selected contributions (i.e., Salary Reduction Contributions, Deferred Cash Contributions (not taken in cash) and/or Nondeductible Voluntary Contributions) allocated to the eligible Participant's Account for the Plan Year, but only to the extent that the total of such selected contributions does not exceed the percentage of the Participant's Compensation or the dollar amount specified in the Adoption Agreement. Notwithstanding any implication of the preceding sentence to the contrary, the Employer Matching Contribution otherwise to be made for a Participant may be reduced to the extent necessary to comply with the limitations of Section 4.08 hereof and shall be reduced to the extent necessary to comply with the limitations of Articles V and VI hereof. Any amount which cannot be contributed to the Trust because of these limitations will be retained by the Employer, and the Employer shall have no obligation to contribute such amount to the Trust. Unless the Employer has specified otherwise in the Adoption Agreement, Employees eligible to receive Employer Matching Contributions shall include all Participants and former Participants who were employed by the Employer during the Plan Year as Employees who were eligible to participate in the Plan. If the Employer has specified in the Adoption Agreement that former Participants who were employed by the Employer during the Plan Year but who are not employed on the last day of the Plan Year. The amount Year must have completed a minimum number of the Hours of Service to receive an allocation of Employer Matching Contribution will be equal to the 401(k) Plan Employer Matching Contribution, as defined in the 401(k) Plan document, applied to the sum of the Participant’s elective deferrals to the 401(k) Plan Contributions for the such Plan Year, less matching contributions made by the Employer to the 401(k) Plan for the Participant. In no event will the aggregate Employer Matching Contribution to this Plan and the 401(k) Plan exceed 4.5% of the Participant’s Compensation. The Employer Matching Contribution will be credited to the Participant’s Deferred Compensation Account within 120 days after the end of the Plan Year. Notwithstanding the above, for Plan Years beginning on or after January 1, 2003, to the extent a Participant has made the maximum elective deferral to the 401(k) Plan, exclusive of any Catch-up Contribution such Participant may be eligible to shall not make to the 401(k) Plan, the Participant shall be eligible for an Employer Matching Contribution if he is employed on the last day of the Plan Year. The amount of the Employer Matching Contribution for the Plan Year shall be calculated by applying the matching contribution formula in the 401(k) Plan, but using Compensation as defined herein rather than compensation as defined in the 401(k) Plan, to the sum of the Participant’s elective deferrals to the 401(k) Plan and the Participant’s Deferred Compensation under this Plan, less any amount contributed by the Employer to the 401(k) Plan as a matching contribution contributions on behalf of such former Participants who fail to complete the Participant for the same Plan Year. The Employer Matching Contribution will be credited to the Participant’s Deferred Compensation Account within 120 days after the end required number of the Hours of Service during such a Plan Year.

Employer Matching Contributions. To (Section 15) As of the extent last day of a Participant has made the maximum elective deferral to the Coventry Health Care, Inc. Retirement Savings Plan (the “401(k) Plan”)Contribution Period, the Employer will credit an Employer shall allocate a Non-Safe Harbor Matching Contribution on behalf of each “Benefiting Participant,” who is an Eligible Employee of such Employer. A Non-Safe Harbor Matching Contribution on behalf of a Benefiting Participant shall be in an amount equal to fifty percent (50%) of the Benefiting Participant’s Elective Deferrals for the Contribution Period which do not exceed five percent (5%) of the Benefiting Participant’s Compensation for the Contribution Period, provided, however, that each Benefiting Participant if he is employed on shall receive a “Minimum Annual Non-Safe Harbor Matching Contribution” equal to 50% of the last day first $4,000 of the Benefiting Participant’s Elective Deferrals for the Plan Year. The amount of Any contribution necessary to provide a Benefiting Participant with the Employer Minimum Annual Non-Safe Harbor Matching Contribution will be equal to the 401(k) Plan Employer Matching Contribution, as defined in the 401(k) Plan document, applied to the sum of the Participant’s elective deferrals to the 401(k) Plan for the Plan Year, less matching contributions made by the Employer to the 401(k) Plan for the Participant. In no event will the aggregate Employer Matching Contribution to this Plan and the 401(k) Plan exceed 4.5% of the Participant’s Compensation. The Employer Matching Contribution will be credited to the Participant’s Deferred Compensation Account within 120 days after the end of the Plan Year. Notwithstanding the above, for Plan Years beginning on or after January 1, 2003, to the extent a Participant has made the maximum elective deferral to the 401(k) Plan, exclusive of any Catch-up Contribution such Participant may be eligible to make to the 401(k) Plan, the Participant shall be eligible for an Employer Matching Contribution if he is employed on the last day of the Plan Year. The amount of the Employer treated as a Non-Safe Harbor Matching Contribution for the all purposes under this Plan. For avoidance of doubt, any Participant who is a Benefiting Participant for a Non-Safe Harbor Matching Contribution with respect to any Contribution Period in a Plan Year shall be calculated by applying the matching contribution formula in the 401(k) Plan, but using Compensation as defined herein rather than compensation as defined in the 401(k) Plan, to the sum a Benefiting Participant for purposes of the Minimum Annual Non-Safe Harbor Matching Contribution, if applicable to such Benefiting Participant’s elective deferrals to the 401(k) Plan and the Participant’s Deferred Compensation under this Plan, less any amount contributed by the Employer to the 401(k) Plan as a matching contribution on behalf of the Participant for the same such Plan Year. The Employer Matching Contribution will be credited to Item 2: Post 70-1/2 Distributions – Required Beginning Date (Section 27.4) Notwithstanding the Participant’s Deferred Compensation Account within 120 days after the end election set forth in Section 27.4 of the Plan YearAdoption Agreement, a Participant who continues employment beyond April 1 of the calendar year following the year he attains age 701⁄2 may elect to commence retirement benefits as of that date while still employed with the Employer.