Common use of Restoration of Accounts Clause in Contracts

Restoration of Accounts. Notwithstanding any other provision of the Plan, for any Plan Year in which it is necessary to restore any portion of a Participant's Account pursuant to Section 8.3(b) or 9.5, to the extent that the amount of Forfeitures available is insufficient to accomplish such restoration, the Employer shall contribute the amount necessary to eliminate the insufficiency, regardless of whether the contribution is currently deductible by the Employer under Section 404 of the Code. Forfeitures shall be considered available for allocation pursuant to Sections 4.4 and 5.14 in a Plan Year only after all necessary restoration of Accounts has been accomplished.

Appears in 3 contracts

Samples: Earthlink Inc, Plan Agreement (American Science & Engineering Inc), Plan Agreement (Conley Canitano & Associates Inc)

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Restoration of Accounts. Notwithstanding any other provision of the Plan, for any Plan Year in which it is necessary to restore any portion of a Participant's Account pursuant to Section 8.3(b) or 9.5, to the extent that the amount of Forfeitures available is insufficient to accomplish such restoration, the Employer shall contribute the amount necessary to eliminate the insufficiency, regardless of whether the contribution is currently deductible by the Employer under Section 404 of the Code. Forfeitures shall be considered available for allocation pursuant to Sections 4.4 and 5.14 in a Plan Year only after all necessary restoration of Accounts has been accomplished.

Appears in 1 contract

Samples: Ico Inc

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