Employer Matching Credits Sample Clauses

Employer Matching Credits. The Employer may make matching 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.
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Employer Matching Credits. The Employer may make matching credits to the Deferred Compensation Account of each eligible Participant in an amount determined as follows [check desired option(s)]: Participants eligible to receive an Employer Match are defined as follows: o Title of EMPLOYERS MUTUAL CASUALTY COMPANY Vice President or above, President of Employers Modern Life Company, President of Farm & City Insurance Company. o Earnings in the top 10% of employees. o Currently deferring the maximum allowed into the 401(k) qualified plan. (i) of the Participant's Salary Deferral Credits. X (ii) 100 % of the first 5 % of the Participant's Compensation which is --- elected as a Salary Deferral Credit. (iii) An amount determined each Plan Year by the Employer. (iv) The Employer shall decide from year to year whether matching credits will be made and shall notify Participants annually of the manner in which matching credits will be calculated for the subsequent year. (v) The Employer shall not match amounts provided above in excess of $______________, or in excess of ___% of the Participant's Compensation per Plan Year. (vi) No Employer matching credits provision.
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Employer Matching Credits. If designated by the Employer in the Adoption Agreement, as of each Adjustment Date, the Employer shall cause the Committee to credit to the Deferred Compensation Account of each Participant an Employer matching credit in accordance with the Adoption Agreement.
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Employer Matching Credits. The Employer may make matching credits to the Deferred Compensation Account of each Participant in an amount determined as follows: (i) An amount determined each Plan Year by the Employer. [XX] (ii) Other: 50% OF THE FIRST 6% OF THE PARTICIPANT'S COMPENSATION, WHICH IS ELECTED AS A SALARY DEFERRAL CREDIT AND OFFSET WITH 401(k), NOT TO EXCEED THE TOTAL MATCH ALLOWABLE UNDER THE 401(k).
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Employer Matching Credits. The Employer shall, for each Plan Year that an Active Member elects to make Elective Deferrals, make an Employer Matching Credit on behalf of each Active Member in an amount equal to two times the excess of (i) 5% of the Member’s Compensation over (ii) 5% of the Member’s Compensation less his or her Elective Deferrals, but not to exceed the Code Limitation; provided, however, that such Active Member is an Employee as of the Employer Matching Allocation Date.
Sample 1
Employer Matching Credits. The Employer may make matching credits to the Deferred Compensation Account of each Participant in an amount determined as follows [check desired option(s)]: (i) of the Participant's Salary Deferral Credits. (ii) of the first ______% of the Participant's Compensation which is elected as a Salary Deferral Credit. (iii) An amount determined each Plan Year by the Employer.
Sample 1
Employer Matching Credits. (a) The Employer’s Matching Credit shall be determined in accordance with one or more of the following methods (select one or more): o The Employer shall credit to the Account of each Participant % of such Participant’s Compensation Deferrals. Employer Matching Credits shall be made based on Compensation Deferrals made each (select one): o Pay period o Taxable Year o Other (specify): o The Employer shall credit to the Account of each Participant % of the first % of such Participant’s Compensation Deferrals, plus % of the next % of such Participant’s Compensation Deferrals, plus % of the next % of such Participant’s Compensation Deferrals. Employer Matching Credits shall be made based on Compensation Deferrals made each (select one): o Pay period o Taxable Year o Other (specify): ý An amount determined at the discretion of the Employer. o Pay period ý Taxable Year o Other (specify): (b) Limitations on Employer Matching Credits (select one or more): o The Employer Matching Credit shall not exceed $ for any Participant. o The Employer shall not provide an Employer Matching Credit for any Compensation Deferral in excess of % of the Participant’s Compensation. (c) Eligibility for Employer Matching Credit (select one or more): o All Participants who have completed at least hours of employment during the Taxable Year. o All Participants employed on the last day of a Taxable Year. o All Participants who satisfy the following conditions: ý No eligibility conditions. All Participants who make Compensation Deferrals are eligible. VI Employer Discretionary Credits (a) Amount of Employer Discretionary Credit (select one or more): ý An amount determined at the discretion of the Employer, which need not be uniform as to Participants. o An amount determined by the following formula: (b) Eligibility for Employer Discretionary Credit (select one or more): o All Participants who have completed at least hours of employment during the Taxable Year. o All Participants employed on the last day of a Taxable Year. o All Participants who are employees of the Employer during the Taxable Year and who satisfy the following conditions: ý No eligibility conditions. All Participants who are employees of the Employer during the Taxable Year are eligible.
Sample 1
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Employer Matching Credits. The Employer may make matching credits to the Deferred Compensation Account of each Employee Participant in an amount determined as follows [check desired option(s)]: o (i) % of the Participant’s Salary Deferral Credits. o (ii) % of the first % of the Participant’s Compensation which is elected as a Salary Deferral Credit.
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Employer Matching Credits. 97 3.3 Employer Performance Incentive Credits ................ 97
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Related to Employer Matching Credits

  • 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.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

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

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

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