Minimum Contribution Provisions Sample Clauses

Minimum Contribution Provisions. Each Participant who is a nonkey employee (as defined in Section 13.05 below) and who is an Employee as of the last day of such Plan Year shall be entitled to a minimum contribution which, when added to the amount of any employer contributions (excluding Tax Deferred Contributions and Matching Contributions made with respect to Plan Years commencing after January 1, 1989) allocated to the Participant's accounts under this Plan and all other defined contribution plans maintained by the Company or any Affiliated Company, will cause the sum of all such contributions to equal the lesser of (a) three percent (3%) of such Participant's compensation for such Plan Year or (b) the percentage at which contributions are made for the key employee (as defined in Section 13.04 below) for whom such percentage is the highest for such Plan Year; provided, if such Participant
Sample 1
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Minimum Contribution Provisions. 66 13.03 Top-Heavy Plan Definition................................. 67 13.04 Key Employee.............................................. 69 13.05 Non-Key Employee.......................................... 70 13.06 Limitation on Contributions............................... 70
Sample 1
Minimum Contribution Provisions. Each Participant who is a non-key employee (as defined in Section 13.05 below) and who is an Employee as of the last day of such Plan Year shall be entitled to a minimum contribution which, when added to the amount of any employer contributions (excluding Basic and Matching Contributions made with respect to Plan Years commencing on or after January 1, 1989) allocated to the Participant's accounts under this Plan and all other defined contribution plans maintained by the Company or any Affiliated Company, will cause the sum of all such contributions to equal the lesser of (a) three percent (3%) of such Participant's compensation for such Plan Year or (b) the percentage at which contributions are made for the key employee (as defined in Section 13.04 below) for whom such percentage is the highest for such Plan Year; provided, if such Participant is also a non-key employee covered under a defined benefit plan maintained by the Company or an Affiliated Company, such Participant shall be entitled to a minimum benefit under such defined benefit plan instead of the minimum contribution described in this Section 13.02. For purposes of this Section 13.02, "compensation" shall be determined within the meaning of Section 415 of the Code; provided, however, that in no event shall a Participant's compensation exceed (a) $200,000 for any Plan Year commencing on or after January 1, 1989 (or such larger amount as
Sample 1
Minimum Contribution Provisions. Subject to the provisions of Sections 15.3 and 15.4, each Eligible Employee who (i) is a Non-Key Employee (as defined in Section 15.7); and (ii) is employed on the last day of the Plan Year shall be entitled to have Employer Matching Contributions allocated to his Account of not less than 3% (the "Minimum Contribution Percentage") of his Compensation (as defined for purposes of applying the limits of Code Section 415) or such other amount, if any, as may be necessary to comply with the rules established by the Internal Revenue Service. The Minimum Contribution Percentage set forth above shall be reduced for any Plan Year to the percentage at which contributions are made (or required to be made) under the Plan for the Plan Year for the Key Employee (as defined in Section 15.6) for whom such percentage is the highest for such Plan Year. For this purpose, the percentage with respect to a Key Employee shall be determined by dividing the contributions made for such Key Employee by his total Compensation for the Plan Year not to exceed $160,000 or such higher amount as indexed pursuant to Code Sections 401(a)(17) and 415(d) and the applicable regulations thereunder. Contributions taken into account under the immediately preceding sentence shall include contributions under this Plan and under all other defined contribution plans required to be included in an Aggregation Group (as defined in Section 15.5), but shall not include any plan required to be included in such Aggregation Group if such plan enables a defined -54- 66 benefit plan required to be included in such group to meet the requirements of the Code prohibiting discrimination as to contributions or benefits in favor of employees who are officers, shareholders or Highly Compensated Employees, or prescribing the minimum participation standards. Contributions taken into account under this Section 15.2 shall not include any contributions under the Social Security Act or any other Federal or state law.
Sample 1

Related to Minimum Contribution Provisions

  • Other Contribution Provisions In the event that any Partner is admitted to the Partnership and is given a Capital Account in exchange for services rendered to the Partnership, unless otherwise determined by the General Partner in its sole and absolute discretion, such transaction shall be treated by the Partnership and the affected Partner as if the Partnership had compensated such partner in cash and such Partner had contributed the cash to the capital of the Partnership. In addition, with the consent of the General Partner, one or more Limited Partners may enter into contribution agreements with the Partnership which have the effect of providing a guarantee of certain obligations of the Partnership.

  • Other Allocation Provisions Certain of the foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Treasury Regulations Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such regulations. Sections 5.03, 5.04 and 5.05 may be amended at any time by the General Partner if necessary, in the opinion of tax counsel to the Partnership, to comply with such regulations or any applicable Law, so long as any such amendment does not materially change the relative economic interests of the Partners.

  • Additional Allocation Provisions Notwithstanding the foregoing provisions of this Article 6:

  • Termination Provisions In this Agreement:

  • Other Termination Provisions Executive agrees that upon termination of this Agreement and upon reasonable request by the Board of Directors, Executive shall resign from any then effective Board, Officer or Committee positions.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • Minimum Allocation If the Employer has adopted Sponsor's paired defined contribution plan number 01001, 01004 or 01005 in addition to this Plan, then the minimum allocation required by Section 13.3 will be provided ( ) under this Plan; ( ) under such other paired defined contribution plan. If the Employer has adopted Sponsor's paired defined benefit plan number 02001, then Participants in this Plan (or another paired defined contribution plan) who are covered under the paired defined benefit plan shall receive the top-heavy minimum benefit under the paired defined benefit plan and shall receive no minimum allocation. If a Participant in this Plan who is a Non-Key Employee is covered under another qualified plan maintained by the Employer, other than a paired plan of the Sponsor, the minimum Top Heavy allocation or benefit required under Section 416 of the Code shall be provided to such Non-Key Employee under:

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Additional Termination Provisions Notwithstanding and in addition to the foregoing, in the event that (i) a Mortgage Loan becomes delinquent for a period of 90 days or more (a "Delinquent Mortgage Loan") or (ii) a Mortgage Loan becomes an REO Property, the Purchaser may at its election terminate this Agreement with respect to such Delinquent Mortgage Loan or REO Property, upon 15 days' written notice to the Seller.

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

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