Net Profit. The current and accumulated operating earnings of the Employer after Federal and state income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise in the Adoption Agreement, Employer contributions to the Plan are not conditioned on profits.
Appears in 11 contracts
Samples: Defined Contribution Plan, Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp)
Net Profit. The current and accumulated operating earnings of the Employer after Federal and state income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise in the Adoption Agreement, Employer contributions to the Plan are not conditioned on profits.
Appears in 8 contracts
Samples: 401(k) Defined Contribution Plan (Measurement Specialties Inc), Defined Contribution Plan (Century Bancorp Inc), Defined Contribution Plan (Chicopee Bancorp, Inc.)
