Common use of Profits Requirement Clause in Contracts

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions.

Appears in 3 contracts

Samples: Adoption Agreement (Sano Corp), Nonstandardized Profit Sharing Plan and Trust/Custodial Account (Good Times Restaurants Inc), Adoption Agreement (Peoples Sidney Financial Corp)

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Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributionsDiscretionary Contributions. (ii) No Net Profits are required for: [xX] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions.

Appears in 1 contract

Samples: Cash or Deferred Profit Sharing Plan (Port Financial Corp)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ Yes No --- -- [_] [X] (A) Matching Contributions. [ [_] [X] (B) Qualified Non-Elective Contributions. [ [_] [X] (C) discretionary Discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions.

Appears in 1 contract

Samples: Adoption Agreement (Homestore Com Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ [X] (C) discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions.

Appears in 1 contract

Samples: Adoption Agreement (Equivest Finance Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ [_] (A) Matching Contributions. [ [_] (B) Qualified Non-Elective Contributions. [ [_] (C) discretionary contributionsDiscretionary Contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x_] (B) Qualified Non-Elective Contributions. [_] (C) Discretionary Contributions.

Appears in 1 contract

Samples: Adoption Agreement (Westfield Financial Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. PROTOTYPE CASH OR DEFERRED PROFIT- SHARING PLAN #001 [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [xX] (A) Matching Contributions. [xX] (B) Qualified Non-Elective Contributions. [X] (C) discretionary contributions. NOTE: Elective Deferrals can always be contributed regardless of profits.

Appears in 1 contract

Samples: Adoption Agreement (Vs Holdings Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Discretionary Contributions.

Appears in 1 contract

Samples: Adoption Agreement (Safeguard Scientifics Inc Et Al)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions. Prototype Cash or Deferred Profit- Sharing Plan #002 [x] (C) discretionary contributions. NOTE: Elective Deferrals can always be contributed regardless of profits.

Appears in 1 contract

Samples: Adoption Agreement (Option Care Inc/De)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [xX] (A) Matching Contributions. [xX] (B) Qualified Non-Elective Contributions. Prototype Cash or Deferred Profit- Sharing Plan #004 [x] (C) discretionary contributions. NOTE: Elective Deferrals can always be contributed regardless of profits.

Appears in 1 contract

Samples: Adoption Agreement (Community Bancorp /Vt)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions. [x] (C) discretionary contributions. NOTE: Elective Deferrals can always be contributed regardless of profits.

Appears in 1 contract

Samples: Adoption Agreement (Nobility Homes Inc)

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Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [xX] (A) Matching Contributions. [xX] (B) Qualified Non-Elective Contributions. [X] (C) discretionary contributions. NOTE: Elective Deferrals can always be contributed regardless of profits.

Appears in 1 contract

Samples: Adoption Agreement (Franklin Financial Corp /Tn/)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions.

Appears in 1 contract

Samples: Regional Prototype Cash or Deferred Profit Sharing Plan (Global Sports Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] : (A) Matching Contributions. [ ] . (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributions. (ii) No Net Profits are required for: [x[ ] (A) Matching Contributions. [xX] (B) Qualified Non-Elective Contributions.

Appears in 1 contract

Samples: Adoption Agreement (Century Bancorp Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. REGIONAL PROTOTYPE CASH OR DEFERRED PROFIT-SHARING PLAN #012 [ ] (C) discretionary contributionsDiscretionary Contributions. (ii) No Net Profits are required for: [x] (A) Matching Contributions. [x] (B) Qualified Non-Elective Contributions.

Appears in 1 contract

Samples: 401(k) Plan Document (Berkshire Hills Bancorp Inc)

Profits Requirement. (i) Current or Accumulated Net Profits are required for: [ ] (A) Matching Contributions. [ ] (B) Qualified Non-Elective Contributions. [ ] (C) discretionary contributionsDiscretionary Contributions. (ii) No Net Profits are required for: [xX] (A) Matching Contributions. [xX] (B) Qualified Non-Elective Contributions. [X] (C) Discretionary Contributions. NOTE: Elective Deferrals can always be contributed regardless of profits.

Appears in 1 contract

Samples: Adoption Agreement (Professionals Insurance Co Management Group)

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