Common use of OMISSION OF ELIGIBLE EMPLOYEE Clause in Contracts

OMISSION OF ELIGIBLE EMPLOYEE. If an Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of the omission is made after the contribution by the Employer is made and allocated, the Employer shall make an additional contribution on behalf of the omitted Employee in the amount which the Employer would have contributed on his behalf had he not been omitted.

Appears in 3 contracts

Samples: Defined Contribution Plan and Trust (Capstone Pharmacy Services Inc), Adoption Agreement (Southbanc Shares Inc), Adoption Agreement (Jones Medical Industries Inc /De/)

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OMISSION OF ELIGIBLE EMPLOYEE. If an any Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of the such omission is not made until after the a contribution by his Employer for the Employer is made and allocatedyear has been made, the Employer shall make an additional contribution on behalf of a subsequent contribution, if necessary, so that the omitted Employee in receives the total amount which the Employer said Employee would have contributed on his behalf received had he not been omitted.. For purposes of this Section 3.05, the term

Appears in 1 contract

Samples: Adoption Agreement Non Standardized Profit Sharing Plan (Extended Systems Inc)

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