Common use of Minimum Deferrals Clause in Contracts

Minimum Deferrals. (a) The minimum amount and/or percentage by which a Participant must elect to have his or her Includible Compensation reduced and contributed to the Plan as Deferred Compensation is equal to (check one): X There is no minimum amount or percentage. □ Other (complete Items 8(a)(i) and/or 8(a)(ii), as necessary): (i) $ (ii) % of Includible Compensation (b) The limits described in Item 8(a) shall be applied on the following basis: X Annually. □ Monthly. □ Pay Period by Pay Period □ Other (please specify)

Minimum Deferrals. (a) The minimum amount and/or percentage by which a Participant must elect to have his or her Includible Compensation reduced and contributed to the Plan as Deferred Compensation is equal to (check one): X □ There is no minimum amount or percentage. □ X Other (complete Items 8(a)(i) and/or 8(a)(ii), as necessary): (i) $ $ (ii) Mandatory 7.5% of Includible Compensation (b) The limits described in Item 8(a) shall be applied on the following basis: X □ Annually. □ Monthly. □ X Pay Period by Pay Period □ Other (please specify)