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: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype 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: Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.), Prototype Defined Contribution Plan (FNB United Corp.), Prototype Defined Contribution Plan (United Community Bancorp)
Net Profit. The current and accumulated operating earnings of the Employer after before Federal and state State income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan qualified plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise specified in the Adoption Agreement, Employer profits will not be required for Profit-Sharing contributions to the Plan are not conditioned on profitsPlan.
Appears in 4 contracts
Samples: East West Bancorp Inc, Non Standardized Adoption Agreement (Princeton Review Inc), Adoption Agreement (Shared Technologies Cellular Inc)
