Common use of Minimum Allocation Clause in Contracts

Minimum Allocation. (a) Except as otherwise provided in (b), (c) and (d) below, when the Plan is Top-Heavy the Employer contributions and forfeitures allocated on behalf of any Participant who is a Non-Key Employee shall not be less than the lesser of three percent (3%) of such Participant's Compensation or, if neither the Employer nor an Affiliated Employer maintains a defined benefit plan which designates this Plan to satisfy sections 401(a)(4) or 410 of the Code, the largest percentage of Employer contributions and forfeitures, as a percentage of the Key Employee's Compensation, as limited by section 401(a)(17) of the Code allocated on behalf of any Key Employee for that year. For purposes of determining whether a Plan is Top-Heavy, Elective Deferrals are considered Employer contributions. However, neither Elective Deferrals nor Matching Contributions may be taken into account for purposes of satisfying the three percent (3%) minimum Top-Heavy contributions requirements for Plan Years beginning on or after January 1, 1989. The Minimum Allocation is determined without regard to a Social Security contribution. This Minimum Allocation shall be made even though, under other Plan provisions, the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation for the year because of (1) the Participant's failure to complete one thousand (1,000) Hours of Service (or any equivalent provided in the Plan), (2) the Participant's failure to make mandatory employee contributions, or (3) the Participant's Compensation is less than a stated amount.

Minimum Allocation. (a) Except as otherwise provided in (b), paragraphs (c) and (d) below, when the Plan is Top-Heavy the Employer contributions and forfeitures Forfeitures allocated on behalf of any Participant who is not a Non-Key Employee shall not be less than the lesser of three percent (3%) % of such Participant's Compensation orEarnings, if neither or in the case where the Employer nor an Affiliated Employer maintains a has no defined benefit plan which designates this Plan to satisfy sections 401(a)(4) or 410 Section 401 of the Code, the largest percentage of Employer contributions and forfeituresForfeitures, as a percentage of the Key Employee's CompensationEarnings, as limited by section 401(a)(17) of the Code allocated on behalf of any Key Employee for that year. For purposes of determining whether a Plan is Top-Heavy, Elective Deferrals are considered Employer contributions. However, neither Elective Deferrals nor Matching Contributions may be taken into account for purposes of satisfying the three percent (3%) The minimum Top-Heavy contributions requirements for Plan Years beginning on or after January 1, 1989. The Minimum Allocation allocation is determined without regard to a any Social Security contribution. This Minimum Allocation minimum allocation shall be made even though, under other Plan provisions, the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation of the Employer's contributions and Forfeitures for the year Plan Year because of (1) the Participant's failure to complete one thousand (1,000) be credited with at least 1,000 Hours of Service (Service, or any equivalent provided in the Plan), (2) the Participant's failure to make mandatory employee contributionsEmployee contributions to the Plan, or (3) the Participant's Compensation is receiving Earnings less than a stated amount. Neither Elective Deferrals, Employer Matching Contributions nor Qualified Matching Contributions for non-Key Employees shall be taken into account for purposes of satisfying the requirement of this Section 14.3(a).

Minimum Allocation. (a) Except as otherwise provided in (b), paragraphs (c) and (d) below, when the Plan is Top-Heavy the Employer contributions and forfeitures Forfeitures allocated on behalf of any Participant who is not a Non-Key Employee shall not be less than the lesser of three percent (3%) % of such Participant's Compensation orEarnings, if neither or in the case where the Employer nor an Affiliated Employer maintains a has no defined benefit plan which designates this Plan to satisfy sections 401(a)(4) or 410 Section 401 of the Code, the largest percentage of Employer contributions and forfeituresForfeitures, as a percentage of the Key Employee's CompensationEarnings, as limited by section 401(a)(17) of the Code allocated on behalf of any Key Employee for that year. For purposes of determining whether a Plan is Top-Heavy, Elective Deferrals are considered Employer contributions. However, neither Elective Deferrals nor Matching Contributions may be taken into account for purposes of satisfying the three percent (3%) The minimum Top-Heavy contributions requirements for Plan Years beginning on or after January 1, 1989. The Minimum Allocation allocation is determined without regard to a any Social Security contribution. This Minimum Allocation minimum allocation shall be made even though, under other Plan provisions, the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation of the Employer's contributions and 62 95 Forfeitures for the year Plan Year because of (1) the Participant's failure to complete one thousand (1,000) be credited with at least 1,000 Hours of Service (Service, or any equivalent provided in the Plan), (2) the Participant's failure to make mandatory employee contributionsEmployee contributions to the Plan, or (3) the Participant's Compensation is receiving Earnings less than a stated amount. Neither Elective Deferrals, Employer Matching Contributions nor Qualified Matching Contributions for non-Key Employees shall be taken into account for purposes of satisfying the requirement of this Section 14.3(a).

Minimum Allocation. (a) Except as otherwise provided in (b), paragraphs (c) and (d) below, when the Plan is Top-Heavy the -84- 144 Employer contributions and forfeitures Forfeitures allocated on behalf of any Participant who is not a Non-Key Employee shall not be less than the lesser of three percent (3%) % of such Participant's Compensation orEarnings, if neither or in the case where the Employer nor an Affiliated Employer maintains a has no defined benefit plan which designates this Plan to satisfy sections 401(a)(4) or 410 Section 401 of the Code, the largest percentage of Employer contributions and forfeituresForfeitures, as a percentage of the Key Employee's CompensationEarnings, as limited by section 401(a)(17) of the Code allocated on behalf of any Key Employee for that year. For purposes of determining whether a Plan is Top-Heavy, Elective Deferrals are considered Employer contributions. However, neither Elective Deferrals nor Matching Contributions may be taken into account for purposes of satisfying the three percent (3%) The minimum Top-Heavy contributions requirements for Plan Years beginning on or after January 1, 1989. The Minimum Allocation allocation is determined without regard to a any Social Security contribution. This Minimum Allocation minimum allocation shall be made even though, under other Plan provisions, the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation of the Employer's contributions and Forfeitures for the year Plan Year because of (1) the Participant's failure to complete one thousand (1,000) be credited with at least 1,000 Hours of Service (Service, or any equivalent provided in the Plan), (2) the Participant's failure to make mandatory employee contributionsEmployee contributions to the Plan, or (3) the Participant's Compensation is receiving Earnings less than a stated amount. Neither Elective Deferrals, Employer Matching Contributions nor Qualified Matching Contributions for non-Key Employees shall be taken into account for purposes of satisfying the requirement of this Section 14.3(a).