Regular Contributions. The Employer shall make a Deferral Contribution in accordance with Section 5.03 of the Basic Plan Document on behalf of each Participant who has an executed salary reduction agreement in effect with the Employer for the payroll period in question. Such Deferral Contribution shall not exceed the deferral limit specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(aXl)(A) below, as applicable. Check and complete the appropriate box(es), if any. (A) þ The deferral limit is 60 % (must be a whole number multiple of one percent) of Compensation. (Unless a different deferral limit is specified, the deferral limit shall be 75%. If Option 1.07(a)(4), Catch-Up Contributions, is selected below, complete only if deferral limit is other than 75%.) (B) o Instead of specifying a percentage of Compensation, a Participant's salary reduction agreement may specify a dollar amount to be contributed each payroll period, provided such dollar amount does not exceed the maximum percentage of Compensation specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(a)(1)(A) above, as applicable. (C) A Participant may increase or decrease, on a prospective basis, his salary reduction agreement percentage or, if Xxxx 401(k) Contributions are selected in Subsection 1.07(aX5) below, the portion of his Deferral Contributions designated as Xxxx 401(k) Contributions (check one): (i) þ as of the beginning of each payroll period. (ii) o as of the first day of each month. (iii) o as of each Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).) Note: Notwithstanding the Employer's election hereunder, if Option 1.l1(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked, the Plan provides that an Active Participant may change his salary reduction agreement percentage for the Plan Year within a reasonable period (not fewer than 30 days) of receiving the notice described in Section 6.09 of the Basic Plan Document. (D) A Participant may revoke, on a prospective basis, a salary reduction agreement at any time upon proper notice to the Administrator but in such case may not file a new (i) o the beginning of the next payroll period. (ii) o the first day of the next month (iii) þ the next Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).)
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Samples: Adoption Agreement (Atlas Financial Holdings, Inc.), Adoption Agreement (Atlas Financial Holdings, Inc.)
Regular Contributions. The Employer shall make a Deferral Contribution in accordance with Section 5.03 of the Basic Plan Document on behalf of each Participant who has an executed salary reduction agreement in effect with the Employer for the payroll period in question. Such Deferral Contribution shall not exceed the deferral limit specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(aXl)(A1.07(a)(1)(A) below, as applicable. Check and complete the appropriate box(es), if any.
(A) þ x The deferral limit is 60 60% (must be a whole number multiple of one percent) of Compensation. (Unless a different deferral limit is specified, the deferral limit shall be 75%. If Option 1.07(a)(4), Catch-Up Contributions, is selected below, complete only if deferral limit is other than 75%.)
(B) o ¨ Instead of specifying a percentage of Compensation, a Participant's ’s salary reduction agreement may specify a dollar amount to be contributed each payroll period, provided such dollar amount does not exceed the maximum percentage of Compensation specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(a)(1)(A) above, as applicable.
(C) A Participant may increase or decrease, on a prospective basis, his salary reduction agreement percentage or, if Xxxx 401(k) Contributions are selected in Subsection 1.07(aX51.07(a)(5) below, the portion of his Deferral Contributions designated as Xxxx 401(k) Contributions (check one):
(i) þ ¨ as of the beginning of each payroll period.
(ii) o ¨ as of the first day of each month.
(iii) o x as of each Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).) Note: Notwithstanding the Employer's election hereunder, if Option 1.l1(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked, the Plan provides that an Active Participant may change his salary reduction agreement percentage for the Plan Year within a reasonable period (not fewer than 30 days) of receiving the notice described in Section 6.09 of the Basic Plan Document.
(D) A Participant may revoke, on a prospective basis, a salary reduction agreement at any time upon proper notice to the Administrator but in such case may not file a new
(i) o the beginning of the next payroll period.
(ii) o the first day of the next month
(iii) þ the next Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).)
Appears in 1 contract
Samples: Defined Contribution Plan (Acadia Pharmaceuticals Inc)
Regular Contributions. The Employer shall make a Deferral Contribution in accordance with Section 5.03 of the Basic Plan Document on behalf of each Participant who has an executed salary reduction agreement in effect with the Employer for the payroll period in question. Such Deferral Contribution shall not exceed the deferral limit specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(aXl)(A) below, as applicable. Check and complete the appropriate box(es), if any.salary
(A) þ 🗹 The deferral limit is 60 50.00% (must be a whole number multiple of one percent)
(i) of Compensation. (Unless a different 🞎 The following lower deferral limit is specified, the deferral limit shall be 75applies to Highly Compensated Employees: %. If Option 1.07(a)(4), Catch-Up Contributions, is selected below, complete only if deferral limit is other than 75%.)
(B) o 🞎 Instead of specifying a percentage of Compensation, a Participant's salary reduction agreement may specify a dollar amount to be contributed each payroll period, provided such dollar amount does not exceed the maximum percentage of Compensation specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(a)(1)(A) above), as applicable, and is not less than the minimum percentage of Compensation specified in Subsection 1.07(a)(1)(E), if applicable.
(C) A Participant may increase or decreasechange, on a prospective basis, his salary reduction agreement percentage or, if Xxxx 401(k) Contributions are selected in Subsection 1.07(aX5) below, the portion of his Deferral Contributions designated as Xxxx 401(k) Contributions (check one):
(i) þ 🗹 as of the beginning of each payroll period.
(ii) o 🞎 as of the first day of each month.
(iii) o 🞎 as of each Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).)
(iv) Note: Notwithstanding the Employer's election hereunder, if Option 1.l1(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked, the Plan provides that an Active Participant may change his salary reduction agreement percentage for the Plan Year within a reasonable period (not fewer than 30 days) of receiving the notice described in Section 6.09 🞎 as of the Basic first day of each calendar quarter.
(v) 🞎 as of the first day of each Plan DocumentYear.
(vi) 🞎 other. (Specify, but must be at least once per Plan Year)
(D) A Participant may revoke, on a prospective basis, a salary reduction agreement at any time upon proper notice to the Administrator Administrator, but in such case a new salary reduction agreement may not file a newbecome effective until the time selected in 1.07(a)(1)(C), unless one of the below options is selected. (Check one if applicable):
(i) o 🗹 the beginning of the next payroll period.
(ii) o 🞎 the first day of the next month
. (iii) þ 🞎 the next Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).)
Appears in 1 contract
Samples: Defined Contribution Plan
Regular Contributions. The Employer shall make a Deferral Contribution in accordance with Section 5.03 of the Basic Plan Document on behalf of each Participant who has an executed salary reduction agreement in effect with the Employer for the payroll period in question. Such Deferral Contribution shall not exceed the deferral limit specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(aXl)(A1.07(a)(1)(A) below, as applicable. Check and complete the appropriate box(es), if any.
(A) þ The þThe deferral limit is 60 % (must be a whole number multiple of one percent) of Compensation. (Unless a different deferral limit is specified, the deferral limit shall be 75%. If Option 1.07(a)(4), Catch-Up Contributions, is selected below, complete only if deferral limit is other than 75%.)
(B) o Instead þInstead of specifying a percentage of Compensation, a Participant's salary reduction agreement may specify a dollar amount to be contributed each payroll period, provided such dollar amount does not exceed the maximum percentage of Compensation specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(a)(1)(A) above, as applicable.
(C) A Participant may increase or decrease, on a prospective basis, his salary reduction agreement percentage or, if Xxxx 401(k) Contributions are selected in Subsection 1.07(aX51.07(a)(5) below, the portion of his Deferral Contributions designated as Xxxx 401(k) Contributions (check one):
(i) þ as þas of the beginning of each payroll period.
(ii) o as ¨as of the first day of each month.
(iii) o as ¨as of each Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).) Note: Notwithstanding the Employer's election hereunder, if Option 1.l1(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked, the Plan provides that an Active Participant may change his salary reduction agreement percentage for the Plan Year within a reasonable period (not fewer than 30 days) of receiving the notice described in Section 6.09 of the Basic Plan Document.
(Div) A Participant may revoke, on a prospective basis, a salary reduction agreement at any time upon proper notice to the Administrator but in such case may not file a new
(i) o the beginning ¨as of the next payroll period.
(ii) o the first day of the next montheach calendar quarter.
(iiiv) þ ¨as of the next Entry Datefirst day of each Plan Year.
(vi) ¨other. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(eSpecify, but must be at least once per Plan Year).). _____________________________________________ _____________________________________________
Appears in 1 contract
Samples: Defined Contribution Plan (Cabot Microelectronics Corp)