Common use of No other Participant Clause in Contracts

No other Participant. Any other Participant entitled to a top heavy minimum allocation under Section 3.04(B), but such Participant's allocation under this Option (g) will not exceed 3% of his Compensation for the Plan Year. As a second tier allocation, the Administrative Committee will allocate the profit sharing contributions in the same ratio that each Participant's Excess Compensation for the Plan Year bears to the total Excess Compensation of all Participants for the Plan Year. The allocation under this paragraph, as a percentage of each Participant's Excess Compensation, may not exceed the allocation percentage in the first paragraph. Finally, the Administrative Committee will allocate any remaining profit sharing contributions in the same ratio that each Participant's Compensation for the Plan Year bears to the total Compensation of all Participants for the Plan Year.

Appears in 5 contracts

Samples: Adoption Agreement (Goodmark Foods Inc), Adoption Agreement (Conagra Inc /De/), Adoption Agreement (Goodmark Foods Inc)

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No other Participant. Any other Participant entitled to a top heavy minimum allocation under Section 3.04(B), but such Participant's allocation under this Option (g) will not exceed 3% of his Compensation for the Plan Year. As a second tier allocation, the Administrative Committee will allocate the profit sharing contributions in the same ratio that each Participant's Excess Compensation for the Plan Year bears to the total Excess Compensation of all Participants for the Plan Year. The allocation under this paragraph, as a percentage of each Participant's Excess Compensation, may not exceed the allocation percentage in the first paragraph. Finally, the Administrative Committee will allocate any remaining profit sharing contributions in the same ratio that each Participant's Compensation for the Plan Year bears to the total Compensation of all Participants for the Plan Year.

Appears in 1 contract

Samples: Adoption Agreement (Goodmark Foods Inc)

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