Maximum annual allocation Sample Clauses
The "Maximum annual allocation" clause sets a cap on the amount of resources, funds, or services that one party is obligated to provide or the other party is entitled to receive within a given year. In practice, this clause might specify a maximum number of units delivered, a dollar limit on expenditures, or a ceiling on service hours provided during each contract year. By establishing this upper limit, the clause helps prevent overuse or unexpected financial exposure, ensuring predictability and budget control for both parties.
Maximum annual allocation. Effective January 1, 1997, the actual deferral percentage for eligible highly compensated employees for the Plan year bears a relationship to the actual deferral percentage for all other eligible employees for the preceding Plan year which meets either of the following tests:
1. The actual deferral percentage for the highly compensated participant group shall not be more than the actual deferral percentage of the nonhighly compensated participant group multiplied by 1.25, or
2. The excess of the actual deferral percentage for the highly compensated participant group over the actual deferral percentage for the nonhighly compensated participant group shall not be more than two (2) percentage points or such lesser amount determined pursuant to regulations to prevent the multiple use of this alternative limitation with respect to any highly compensated participant. Additionally, the actual deferral percentage for the highly compensated participant group shall not exceed the actual deferral per-centage for the nonhighly compensated participant group multipled by two (2).
Maximum annual allocation. The allocation of Matching Contributions each Plan Year shall satisfy the Actual Contribution Percentage Test under either of the following formula:
(i) the Actual Contribution Percentage for eligible Highly Compensated Employees shall not be greater than the Actual Contribution Percentage for all eligible Nonhighly Compensated Employees multiplied by 1.25; or
(ii) the difference between the Actual Contribution Percentage for eligible Highly Compensated Employees and the Actual Contribution Percentage for all eligible Nonhighly Compensated Employees shall not be greater than two (2) percentage points; provided, the Actual Contribution Percentage for eligible Highly Compensated Employees shall not be greater than two (2) times the Actual Contribution Percentage for eligible Nonhighly Compensated Employees.
Maximum annual allocation. Effective January 1, 1997, the actual deferral percentage for eligible highly compensated employees for the Plan year bears a relationship to the actual deferral percentage for all other eligible employees for the preceding Plan year which meets either of the following tests: 1. The actual deferral percentage for the highly compensated participant group shall not be more than the actual deferral percentage of the nonhighly compensated participant group multiplied by 1.25, or
Maximum annual allocation. For each Plan Year, the annual allocation derived from Matching Contributions to a Participant’s Matching Contribution Account shall satisfy the following test:
(A) The Actual Contribution Percentage for Highly Compensated Employees shall not be more than the Actual Contribution Percentage of Nonhighly Compensated Employees multiplied by 1.25, or
(B) The excess of the Actual Contribution Percentage for Highly Compensated Employees over the Actual Contribution Percentage for Nonhighly Compensated Employees shall not be more than two percentage points. Additionally, the Actual Contribution Percentage for Highly Compensated Employees shall not exceed the Actual Contribution Percentage for Nonhighly Compensated Employees multiplied by two. The provisions of Section 401(m)(2) of the Code and Treasury Regulation Section 1.401(m)-1(b) are incorporated herein by reference.