Common use of Proportionate Compensation Match Clause in Contracts

Proportionate Compensation Match. The Employer shall contribute to each eligible Participant who defers at least % (may be no more than 100%) of Compensation, an amount determined by multiplying such Employer Matching Contribution by a fraction, the numerator of which is the Participant’s Compensation and the denominator of which is the Compensation of all Participants eligible to receive such an allocation. The Employer’s contribution will be made up to the o greater of (may be no more than 500%) o lesser of (may be no less than 1%) % of Compensation or $ (no more than the Annual Addition limit for the Plan Year).

Appears in 2 contracts

Samples: Savings and Investment Plan Document (Sterling Chemicals Inc), Defined Contribution Plan (Athens Bancshares Corp)

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Proportionate Compensation Match. The Employer shall contribute to each eligible Participant who defers at least % (may be no more than 100%) of Compensation, an amount determined by multiplying such Employer Matching Contribution by a fraction, the numerator of which is the Participant’s 's Compensation and the denominator of which is the Compensation of all Participants eligible to receive such an allocation. The Employer’s 's contribution will be made up to the o [ ] greater of (may be no more than 500%) o [ ] lesser of (may be no less than 1%) % of Compensation or $ (no more than the Annual Addition limit for the Plan Year).

Appears in 1 contract

Samples: Defined Contribution Plan (Old Dominion Freight Line Inc/Va)

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Proportionate Compensation Match. The Employer shall contribute to each eligible Participant who defers at least % (may be no more than 100%) of Compensation, an amount determined by multiplying such Employer Matching Contribution by a fraction, the numerator of which is the Participant’s Compensation and the denominator of which is the Compensation of all Participants eligible to receive such an allocation. The Employer’s contribution will be made up to the o [ ] greater of (may be no more than 500%) o [ ] lesser of (may be no less than 1%) % of Compensation or $ (no more than the Annual Addition limit for the Plan Year).

Appears in 1 contract

Samples: Defined Contribution Plan (ASB Bancorp Inc)

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