Common use of FORFEITURE ALLOCATION Clause in Contracts

FORFEITURE ALLOCATION. Subject to any restoration allocation required under Sections 5.04 or 9.14, the Advisory Committee will allocate a Participant forfeiture in accordance with Section 3.04: (Choose (a) or (b); (c) and (d) are optional in addition to (a) or (b)) (a) As an Employer contribution for the Plan Year in which the forfeiture occurs, as if the Participant forfeiture were an additional Employer contribution for that Plan Year. (b) To reduce the Employer contribution for the Plan Year: (Choose (1) or (2)) (1) in which the forfeiture occurs. (2) immediately following the Plan Year in which the forfeiture occurs. (c) First to reduce the Plan's ordinary and necessary administrative expenses for the Plan Year and then will allocate any remaining forfeitures in the manner described in Option (a) or in Option (b), whichever applies.

FORFEITURE ALLOCATION. Subject to any restoration allocation required under Sections 5.04 or 9.14, the Advisory Committee will allocate a Participant forfeiture in accordance with Section 3.04: (Choose (a) or (b); (c) and (d) are is optional in addition to (a) or (b)) (a) As an Employer contribution for the Plan Year in which the forfeiture occurs, as if the Participant forfeiture were an additional Employer contribution for that Plan Year. (b) To reduce the Employer contribution for the Plan Year: (Choose (1) or (2)) (1) in which the forfeiture occurs. (2) immediately following the Plan Year in which the forfeiture occurs. (c) First to reduce the Plan's ordinary and necessary administrative expenses for the Plan Year and then will allocate any remaining forfeitures in the manner described in Option (a) or in Option (b), whichever applies.