Common use of Highly Compensated Employee Clause in Contracts

Highly Compensated Employee. (A) A highly compensated active Employee includes any Employee who performs service for the Employer or Affiliate during the Plan Year and who, during the look-back year (the twelve-month period immediately preceding the Plan Year): (i) received Compensation from the Employer or Affiliate in excess of $75,000 (as adjusted by the Adjustment Factor); (ii) received Compensation from the Employer or Affiliate in excess of $50,000 (as adjusted by the Adjustment Factor) and was a member of the top-paid group for such year; or (iii) was an officer of the Employer or Affiliate and received Compensation during such year that is greater than 50% of the Defined Benefit Dollar Limitation. (B) The term Highly Compensated Employee also includes: (i) Employees who are both described in the preceding sentence if the term "Plan Year" is substituted for the term "look-back year" and the Employee is one of the 100 Employees who received the most Compensation from the Employer or Affiliate during the Plan Year; and (ii) Employees who are 5% owners at any time during the look-back year or Plan Year. (C) If no officer has received Compensation that is greater than 50% of the Defined Benefit Dollar Limitation in effect during either the Plan Year or look-back year, the highest paid officer of such year shall be treated as a Highly Compensated Employee. (D) A highly compensated former employee includes any Employee who terminated Employment (or was deemed to have terminated) prior to the Plan Year, performs no service for the Employer or Affiliate during the Plan Year, and was a highly compensated active employee for either the separation year or any Plan Year ending on or after the Employee's 55th birthday. (E) If an Employee is, during a Plan Year or look-back year, a Family Member of either (i) a 5% owner who is an active or former Employee or (ii) a Highly Compensated Employee who is one of the ten most highly compensated employees ranked on the basis of Compensation paid by the Employer or Affiliate during such year, then the Family Member and the 5% owner or top-ten Highly Compensated Employee shall be aggregated. In such case, the Family Member and 5% owner or top-ten Highly Compensated Employee shall be treated as a single Employee receiving Compensation and plan contributions or benefits equal to the sum of such Compensation and contributions or benefits of the Family Member and 5% owner or top-ten Highly Compensated Employee. For purposes of this section, Family Member includes the Spouse, lineal ascendants and descendants of the Employee or former employee and the spouses of such lineal ascendants and descendants. (F) The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the top-paid group; the top 100 Employees; the number of Employees treated as officers; and the Compensation that is considered will be made in accordance with Code Section 414(q).

Highly Compensated Employee. (A) A highly compensated active Employee includes The term “Highly Compensated Employee” means any Employee who performs service for the Employer or Affiliate (a) was a 5% owner as defined in Code §416(i)(1)(B)(i) at any time during the Plan Year and who, or during the look-back year. In determining whether an Employee is a Highly Compensated Employee based on his or her status as a 5% owner, the look-back year (will be the twelve12-month period immediately preceding the Plan Year): Year for which the determination is being made; or (ib) received for the look-back year, had Code §415(c)(3) Compensation from the Employer or Affiliate in excess of $75,000 (80,000 as adjusted by under Code §415(d) (except that the Adjustment Factorbase period will be the calendar quarter ending September 30, 1996); (ii) received Compensation from the Employer or Affiliate in excess of $50,000 (as adjusted by the Adjustment Factor) and was . In determining if an Employee is a member of the top-paid group for such year; or (iii) was an officer of the Employer or Affiliate and received Compensation during such year that is greater than 50% of the Defined Benefit Dollar Limitation. (B) The term Highly Compensated Employee also includes: (ibased on Code §415(c)(3) Employees who are both described in the preceding sentence if the term "Plan Year" is substituted for the term "look-back year" and the Employee is one of the 100 Employees who received the most Compensation from the Employer or Affiliate during the Plan Year; and (ii) Employees who are 5% owners at any time during Compensation, the look-back year or Plan Year. (C) If no officer has received Compensation that is greater than 50% of will be the Defined Benefit Dollar Limitation in effect during either 12-month period immediately preceding the Plan Year for which the determination is being made, unless the Sponsoring Employer elects in the Adoption Agreement for any Plan Year that the look-back year will be the calendar year beginning with or within the look-back year, ; and the highest top paid officer of such year shall group election set forth in Code §414(q)(3) will not be treated as applied to this Plan unless otherwise elected for any Plan Year by the Sponsoring Employer in the Adoption Agreement. In determining if an individual is a Highly Compensated Employee. (D) A highly compensated former employee includes any Employee who terminated Employment (or was deemed to have terminated) prior to Employee, the rules for determining which Employees are Highly Compensated Employees for the Plan Year, performs no service Year for which the Employer or Affiliate during the Plan Year, and was a highly compensated active employee for either the separation year or any Plan Year ending on or after the Employee's 55th birthday. determination is being made (E) If an Employee is, during a Plan Year or look-back year, a Family Member of either (i) a 5% owner who is an active or former Employee or (ii) a Highly Compensated Employee who is one of the ten most highly compensated employees ranked on the basis of Compensation paid by the Employer or Affiliate during such year, then the Family Member and the 5% owner or top-ten Highly Compensated Employee shall be aggregated. In such case, the Family Member and 5% owner or top-ten Highly Compensated Employee shall be treated as a single Employee receiving Compensation and plan contributions or benefits equal to the sum of such Compensation and contributions or benefits of the Family Member and 5% owner or top-ten Highly Compensated Employee. For purposes of this section, Family Member includes the Spouse, lineal ascendants and descendants of the Employee or former employee and the spouses of such lineal ascendants and descendants. (F) The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the top-paid group; the top 100 Employees; the number of Employees treated as officers; and the Compensation that is considered will be made in accordance with Code Temporary Regulation §1.414(q)-1T, A-4 and Notice 97-45) will be applied. If the Employer maintains more than one qualified retirement plan, the terms of this Section 414(q)will be applied in a uniform, consistent manner to all such plans.

Highly Compensated Employee. (A) A highly compensated active Employee includes any Employee who performs service for the Employer or Affiliate during the Plan Year and who, during the look-back year (the twelve-month period immediately preceding the Plan Year): (i) received Compensation from the Employer or Affiliate in excess of $75,000 (as adjusted by the Adjustment Factor); (ii) received Compensation from the Employer or Affiliate in excess of $50,000 (as adjusted by the Adjustment Factor) and was a member of the top-paid group for such year; or (iii) was an officer of the Employer or Affiliate and received Compensation during such year that is greater than 50% of the Defined Benefit Dollar Limitation. (B) The term Highly Compensated Employee also includes: (i) Employees who are both described in the preceding sentence if the term "Plan Year" is substituted for the term "look-back year" and the Employee is one of the 100 Employees who received the most Compensation from the Employer or Affiliate during the Plan Year; and (ii) Employees who are 5% owners at any time during the look-look- back year or Plan Year. (C) If no officer has received Compensation that is greater than 50% of the Defined Benefit Dollar Limitation in effect during either the Plan Year or look-back lookback year, the highest paid officer of such year shall be treated as a Highly Compensated Employee. (D) A highly compensated former employee includes any Employee who terminated Employment (or was deemed to have terminated) prior to the Plan Year, performs no service for the Employer or Affiliate during the Plan Year, and was a highly compensated active employee for either the separation year or any Plan Year ending on or after the Employee's 55th birthday. (E) If an Employee is, during a Plan Year or look-back year, a Family Member of either (i) a 5% owner who is an active or former Employee or (ii) a Highly Compensated Employee who is one of the ten most highly compensated employees ranked on the basis of Compensation paid by the Employer or Affiliate during such year, then the Family Member and the 5% owner or top-ten Highly Compensated Employee shall be aggregated. In such case, the Family Member and 5% owner or top-ten Highly Compensated Employee shall be treated as a single Employee receiving Compensation and plan contributions or benefits equal to the sum of such Compensation and contributions or benefits of the Family Member and 5% owner or top-ten Highly Compensated Employee. For purposes of this sectionSection, Family Member includes the Spouse, lineal ascendants and descendants of the Employee or former employee and the spouses of such lineal ascendants and descendants. (F) The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the top-paid toppaid group; the top 100 Employees; the number of Employees treated as officers; and the Compensation that that-is considered will be made in accordance with Code Section 414(q).

Highly Compensated Employee. (A) A highly compensated active Employee includes any Employee who performs service for the Employer or Affiliate during the Plan Year and who, during the look-back year (the twelve-month period immediately preceding the Plan Year): (i) received Compensation from the Employer or Affiliate in excess of $75,000 (as adjusted by the Adjustment Factor);): (ii) received Compensation from the Employer or Affiliate in excess of $50,000 (as adjusted by the Adjustment Factor) and was a member of the top-paid group for such year; or (iii) was an officer of the Employer or Affiliate and received Compensation during such year that is greater than that 50% of the Defined Benefit Dollar Limitation. (B) The term Highly Compensated Employee also includes: (i) Employees who are both described in the preceding sentence if the term "Plan Year" is substituted for the term "look-back year" and the Employee is one of the 100 Employees who received the most Compensation from the Employer or Affiliate during the Plan Year; and (ii) Employees who are 5% owners at any time during the look-back year or Plan Year. (C) If no officer has received Compensation that is greater than 50% of the Defined Benefit Dollar Limitation in effect during either the Plan Year or look-back year, the highest paid officer of such year shall be treated as a Highly Compensated Employee. (D) A highly compensated former employee includes any Employee who terminated Employment (or was deemed to have terminated) prior to the Plan Year, performs no service for the Employer or Affiliate during the Plan Yearyear, and was a highly compensated active employee for either the separation year or any Plan Year ending on or after the Employee's 55th birthday. (E) If an Employee employee is, during a Plan Year or look-back year, a Family Member of either (i) a 5% owner who is an active or former Employee or (ii) a Highly Compensated Employee who is one of the ten most highly compensated employees ranked on the basis of Compensation paid by the Employer or Affiliate during such year, then the Family Member and the 5% owner or top-ten Highly Compensated Employee shall be aggregated. In such case, the Family Member and 5% owner or top-ten Highly Compensated Employee shall be treated as a single Employee receiving Compensation and plan contributions or benefits equal to the sum of such Compensation and contributions or benefits of the Family Member and 5% owner or top-ten Highly Compensated Employee. For purposes of this section, Family Member includes the Spouse, lineal ascendants and descendants of the Employee or former employee and the spouses of such lineal ascendants and descendants. (F) The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the top-paid group; the top 100 Employees; , the number of Employees treated as officers; and the Compensation that is considered will be made in accordance with Code Section 414(q).

Highly Compensated Employee. (A) A highly compensated The term Highly Compensated Employee includes active Highly Compensated Employees and former Highly Compensated Employees. An active Highly Compensated Employee includes any Employee who performs service Service for the Employer or Affiliate during the Plan Year determination year and who, during the look-back year (the twelve-month period immediately preceding the Plan Year): year: (i) received Compensation from the Employer or Affiliate in excess of $75,000 (as adjusted by pursuant to section 415(d) of the Adjustment FactorCode); ; (ii) received Compensation from the Employer or Affiliate in excess of $50,000 (as adjusted by pursuant to section 415(d) of the Adjustment FactorCode) and was a member of the top-paid group for such year; or or (iii) was an officer of the Employer or Affiliate and received Compensation during such year that is greater than 50% of the Defined Benefit Dollar Limitation. (Bdollar limitation in effect under section 415(b)(1)(A) of the Code. The term Highly Compensated Employee also includes: : (i) Employees who are both described in the preceding sentence if the term "Plan Yeardetermination year" is substituted for the term "look-back year" and the Employee is one of the 100 Employees who received the most Compensation from the Employer or Affiliate during the Plan Yeardetermination year; and and (ii) Employees who are 5% 5 percent owners at any time during the look-back year or Plan Year. (C) determination year. If no officer has received satisfied the Compensation that is greater than 50% requirement of the Defined Benefit Dollar Limitation in effect (iii) above during either the Plan Year a determination year or look-back year, the highest paid officer of for such year shall be treated as a Highly Compensated Employee. (D) A highly compensated former employee includes any Employee who terminated Employment (or was deemed to have terminated) prior to . For this purpose, the determination year shall be the Plan Year, performs no service for the Employer or Affiliate during the Plan Year, and was a highly compensated active employee for either the separation year or any Plan Year ending on or after the Employee's 55th birthday. (E) If an Employee is, during a Plan Year or . The look-back year, a Family Member of either (i) a 5% owner who is an active or former Employee or (ii) a Highly Compensated Employee who is one of the ten most highly compensated employees ranked on the basis of Compensation paid by the Employer or Affiliate during such year, then the Family Member and the 5% owner or top-ten Highly Compensated Employee year shall be aggregated. In such case, the Family Member and 5% owner or top-ten Highly Compensated Employee shall be treated as a single Employee receiving Compensation and plan contributions or benefits equal to twelve month period immediately preceding the sum of such Compensation and contributions or benefits of the Family Member and 5% owner or top-ten Highly Compensated Employee. For purposes of this section, Family Member includes the Spouse, lineal ascendants and descendants of the Employee or former employee and the spouses of such lineal ascendants and descendantsdetermination year. (F) The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the top-paid group; the top 100 Employees; the number of Employees treated as officers; and the Compensation that is considered will be made in accordance with Code Section 414(q).