Common use of FIRST YEAR COMPENSATION Clause in Contracts

FIRST YEAR COMPENSATION. If Matching or Non-Matching Contributions will be made, for purposes of determining the Compensation on the basis of which such contributions will be allocated for a Participant’s first year of participation, the Participant’s Compensation shall be the Participant's Compensation for the period commencing as of the first day the Employee became a Participant.

Appears in 5 contracts

Samples: 401(k) Resolution and Participating Employer Agreement, 401(k) Resolution and Participating Employer Agreement, 401(k) Resolution and Participating Employer Agreement

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