Plan and Trust. Employer contributions are equal to a 1 to 1 match based on an employee’s pretax contributions up to 6%. • Employer matching contributions made in non-restricted Company stock • Maximum employee deferral amount will be 60%; subject to Plan guidelines and limitations • During the term of this Agreement, the Company will maintain the current matching contribution level for the 401(k) Plan and retains the ability to change the form of match (cash or stock)
Plan and Trust. National shall provide Agent executed or adopted copies, satisfactory in all respects to Agent, of the Plan document, Trust agreement, and all amendments thereto, together with a certified copy, satisfactory in all respects to Agent, of the direction of the "Plan Administrator" (as that term is defined in Borrower's Plan document) to Borrower and/or Trustee to authorize the execution, delivery, and performance of the Loan Documents and the purchase of Twenty Nine Million Five Hundred Eighty Five Thousand Seven Hundred Ninety Eight (29,585,798) shares of common stock of National.
Plan and Trust at no cost to the Employer. Employees shall designate the amount to be deducted and that amount shall be shown on their pay slip. Employees may increase or decrease the percentage they contribute or stop their contributions to the Plan at any time. To make any of these changes, they must submit a new salary reduction agreement form to their Local Union and Employer at least fourteen (14) days before they want the change to be effective.
Plan and Trust. The Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2 no later than April 1, 2000, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to the ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik or (ii) April 1, 2000 with respect to Water Pik Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan as amended as described in Section 4.1(a). The trust related to the Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).
Plan and Trust. In no event later than the Distribution Date or such earlier date mutually agreed to by Compuware and Covisint (the “Implementation Date”), Covisint shall establish a defined contribution retirement plan qualified under section 401(a) of the Code that includes a cash or deferred arrangement feature under section 401(k) of the Code and establish a related trust qualified under section 501(a) of the Code to be effective immediately following the Distribution Date (the “Covisint 401(k) Plan”). Except as provided in Section 3.1(c), the Covisint 401(k) Plan’s design features shall initially be substantially comparable to the design features of the Compuware Retirement Plan as applicable to Covisint Employees immediately prior to the Distribution Date. The Parties acknowledge that, upon the Distribution Date, the Covisint Employees will experience a “severance from employment” from the Compuware controlled group of companies within the meaning of Code section 401(k)(2)(B)(i)(I) and the regulations and guidance issued thereunder such that the Covisint Employees shall be eligible to take a distribution of their vested Compuware Retirement Plan account balances in the form of a taxable distribution or a permissible rollover to another eligible retirement plan, including the Covisint 401(k) Plan.
Plan and Trust. The Company shall not be a party to the Plan, nor shall it be a party to any Trust which the Employer may, pursuant to the Plan, enter into under any Agreement of Trust. The Company shall be entitled to rely on the statements of the Employer relative to the terms of the Plan, without incurring any liability other than as specifically assumed under this Contract. The Company shall not be required without its written consent to recognize an amendment to the Plan or Trust which might act to increase its liability hereunder.
Plan and Trust. The Xxxxxxx & Xxxxx, Incorporated 401(k) Plan and Trust is hereby adopted by the Participating Group described below, effective as of the date indicated and subject to the special matching employer contribution election under this Plan and, if applicable, the special vesting and/or Code Section 411(d)(6) protected benefits listed below. The Participating Group agrees to be bound by the terms and provisions of the Plan and Trust as currently in effect and as amended from time to time. EMPLOYER NAME: EIN: BRANCH LOCATIONS/BRANCH NUMBERS COVERED BY THIS ELECTION: List, unless all of the Eligible Employees of the Employer will be entitled to become participants in this Plan: Branch Location(s) Branch Number(s) Branch Name(s) Clock #’s Covered (Attach an additional listing, if necessary) EFFECTIVE DATE OF PARTICIPATION:* (Enter Effective Date of Participation) * First deductions on <insert date> salaried checks and <insert date> hourly checks SPECIAL MATCHING EMPLOYER CONTRIBUTION ELECTION(S): The following Retirement K Matching Contribution provisions, as per Section 20.4 of the Plan, ☐ shall / ☐ shall not apply for employees in this Participating Group who are eligible for such Retirement K Matching Contributions. If applicable, such Retirement K Matching Contributions will apply to Salary Deferral Contributions on up to the first 6% of Compensation* in accordance with the following schedule: * In general, compensation for 401(k) salary reduction contribution purposes means the total cash compensation for each pay period that will be reported on a Participant’s U.S. Treasury Department W-2 form as wages, plus any pre-tax elective contributions to this Plan or certain other plans, as set forth in the definition of “Pay” in the Plan. Age as of December 31, 2006 Retirement K Matching Contribution Percentage 55 and older 80 % 45 to 54 60 % 35 to 44 40 % 34 and younger 20 % OTHER MATCHING EMPLOYER CONTRIBUTION ELECTION(S): The following Matching Employer Contribution provisions shall apply to this Participating Group: ☐ No Matching Employer Contribution* ☐ 50 cents for each $1.00 of each Participant’s Salary Deferral Contributions, up to 6% of his/her Compensation*
Plan and Trust. Employer contributions are equal to a 1 to 1 match based on an employee’s pretax contributions up to 6%. Commencing on January 1, 2012 the match will increase to 7%. Commencing on January 1, 2013 the match will increase to 8%. • Employer matching contributions made in non-restricted Company stock • Maximum employee deferral rate will be no less than 20%; subject to Plan guidelines and limitations • During the term of this Agreement, the Company retains the ability to change the form of match (cash or stock).
Plan and Trust. The provisions of the above amendment which relate to the Trustee are hereby approved and executed. Date: ,19 BARCLAYS GLOBAL INVESTORS, NATIONAL --------------------------- ---- ASSOCIATION By: ------------------------------- Title: ------------------ Date: ,19 BARCLAYS GLOBAL INVESTORS, NATIONAL --------------------------- ---- ASSOCIATION By: ------------------------------- Title: ------------------
Plan and Trust. The Purchaser shall not have concluded, based on discussions with or proclamations, declarations or advice of the IRS, that it is reasonably likely that a penalty will be applied retroactively by the IRS with respect to the Administaff 401(k) Plan and Trust.
