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
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Minimum Contribution Provisions. 86 13.03 Top-Heavy Plan Definition................................ 87 13.04 Key Employee............................................. 90 13.05
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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.
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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
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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.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

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

  • Termination Provisions In this Agreement:

  • Other Termination Provisions 1. We may deliver any notice instead of mailing it. Proof of mailing of any notice shall be sufficient proof of notice. 2. If this policy is cancelled, you may be entitled to a premium refund. If so, we will send you the refund. The premium refund, if any, will be computed according to our manuals. However, making or offering to make the refund is not a condition of cancellation. 3. The effective date of cancellation stated in the notice shall become the end of the policy period.

  • 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. PART I. [OPTIONS (a) THROUGH (d)].

  • Transition Provisions Any person engaged as an apprentice at the date this award commenced operation shall be deemed to be an apprentice for all purposes of this award until the completion or cancellation of their apprenticeship contract.

  • 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.

  • REFERENCED CONTRACT PROVISIONS Term provision and Amount Not To Exceed provision, of the Contract are deleted in their entirety and replaced with the following: “Term: July 1, 2019 through September 30, 2024 Period One means the period from July 1, 2019 through June 30, 2020 Period Two means the period from July 1, 2020 through June 30, 2021 Period Three means the period from July 1, 2021 through June 30, 2022 Period Four means the period from July 1, 2022 through June 30, 2023 Period Five means the period from July 1, 2023 through June 30, 2024 Period One Amount Not To Exceed: $360,964 Period Two Amount Not To Exceed: $373,598 Period Three Amount Not To Exceed: $386,674 Period Four Amount Not To Exceed: $450,000 Period Five Amount Not To Exceed: $450,000 Period Six Amount Not To Exceed: $110,469 TOTAL AMOUNT NOT TO EXCEED: $2,131,704” Period Six means the period from July 1, 2024 through September 30, 2024 Amount Not To Exceed: