Common use of Omission of an Eligible Employee Clause in Contracts

Omission of an Eligible Employee. If, in any Plan Year, any person who should be included as a Participant in the Plan is erroneously omitted and such omission is not discovered until after a contribution is made by the Employer for the Plan Year, the Employer shall make a subsequent contribution if necessary after the application of Article III. Such contribution shall be made regardless of whether or not it is deductible in whole or in part in any taxable year under the applicable provisions of the Code. Such contribution shall not be adjusted for any unrealized gain or loss. Such contribution may be made from Forfeitures if the Adoption Agreement permits the use of Forfeitures to either reinstate previously forfeited amounts or to reduce the Employer's contributions under the Plan. However, this paragraph shall not apply to Salary Deferral Contributions.

Omission of an Eligible Employee. If, in any Plan Year, any person who should be included as a Participant in the Plan is erroneously omitted and such omission is not discovered until after a contribution is made by the Employer for the Plan Year, the Employer shall make a subsequent contribution if necessary after the application of Article III. Such contribution shall be made regardless of whether or not it is deductible in whole or in part in any taxable year under the applicable provisions of the Code. Such contribution shall not be adjusted for any unrealized gain or loss. Such contribution may be made from Forfeitures if the Adoption Agreement permits the use of Forfeitures to either reinstate previously forfeited amounts or to reduce the Employer's ’s contributions under the Plan. However, this paragraph shall not apply to Salary Deferral Contributions.

Omission of an Eligible Employee. If, in any Plan Year, any person who should be included as a Participant in the Plan is erroneously omitted and such omission is not discovered until after a contribution is made by the Employer for the Plan Year, the Employer shall make a subsequent contribution if necessary after the application of Article III. Such contribution shall be made regardless of whether or not it is deductible in whole or in part in any taxable year under the applicable provisions of the Code. Such contribution shall not be adjusted for any unrealized gain or loss. Such contribution may be made from Forfeitures if the Adoption Agreement permits the use of Forfeitures to either reinstate previously forfeited amounts or to reduce the Employer's ’s contributions under the Plan. However, this paragraph shall not apply to Salary Deferral Contributions or Xxxx 401(k) Contributions.