Common use of Salary Deferral Contributions Clause in Contracts

Salary Deferral Contributions. The Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ Considered Compensation was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement shall be determined by the Committee, in its sole discretion from time to time. In addition, the election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ the Considered Compensation of its Employees who are Participants was reduced on a pre-–tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre–tax basis shall be determined by the Committee, in its sole discretion from time to time. In addition, the The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ the Considered Compensation of its Employees who are Participants was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre-tax basis shall be determined by the Committee, in its sole discretion from time to time. In addition, the The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Each Plan Year each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ the Considered Compensation of its Employees who are Participants was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s 's or former Participant’s 's right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre-tax basis shall be determined by the Committee, in its sole discretion from time to time. In addition, the The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ the Considered Compensation of its Employees who are Participants was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre-tax basis shall be determined by the Committee, in its sole discretion from time to time. In addition, the The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ the Considered Compensation of its Employees who are Participants was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. This paragraph shall be effective January 1, 2007. Except as provided below, each Employee who first becomes employed by the Employer on or after January 1, 2007 and who satisfies the requirements of Section 3.1 shall have three percent (3%) of his Considered Compensation automatically deducted from his pay as a Salary Deferral Contribution to this Plan (the “Automatic Deduction”). No Automatic Deduction shall be made with respect to an Employee if (a) the Employee affirmatively elects a different level of Salary Deferral Contributions in accordance with the provisions of this Plan or (b) the Employee affirmatively elects not to make Salary Deferral Contributions in accordance with the provisions of this Plan. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre-tax basis shall be determined by the Committee, in its sole discretion from time to time. In addition, the The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ Members' Considered Compensation was reduced on as a pre-tax basis pursuant to result of salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions)agreements. Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the ParticipantMember. A Member's right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant Member of the amount required to be contributed to the Trust. A Member shall be entitled to prospectively modify his salary deferral agreement can only at least once a year. A Member shall be made entitled to revoke, on a prospective basis, his salary deferral agreement at any time. A Member who revokes his salary reduction agreement may file a new salary reduction agreement with an effective date no earlier than the first day of the next Plan Year. A Member may increase or may decrease, on a prospective basis, his salary reduction percentage or dollar amount as of the first day of each calendar quarter. Effective August 1, 2000, the following rules shall apply with respect to a Member's salary deferral election: (a) a Member's election to reduce his Considered Compensation may not exceed 25 percent of his Considered Compensation; (b) a Member who revokes his salary reduction agreement may file a new salary reduction agreement with an amount that is not currently available effective date as of the first day of any month subsequent to the Participant month in which he revoked the agreement; and (c) a Member may increase or may decrease, on the date a prospective basis, his salary reduction percentage or dollar amount as of the agreementfirst day of each month. FurtherEffective January 1, a salary deferral agreement can only be made with respect to amounts that would (but for 2001, the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant Member may elect to reduce his Considered Compensation under his salary deferral agreement shall be determined by the Committee, in its sole discretion from time to time. In addition, the election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ the Considered Compensation of its Employees who are Participants was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s 's right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre-tax basis shall be determined by the Committee, in its sole discretion from time to time. In addition, the The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution election at least once during each Plan Year.

Salary Deferral Contributions. The Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its ParticipantsMembers’ Considered Compensation was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the ParticipantMember. A Member’s right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant Member of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant Member on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant Member may not be made earlier than the date on which the ParticipantMember’s salary deferral agreement is made. A ParticipantMember’s Salary Deferral Contribution must be made after the ParticipantMember’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the ParticipantMember, if earlier. A ParticipantMember’s or former ParticipantMember’s right to benefits derived from attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant Member may elect to reduce his Considered Compensation under his salary deferral agreement shall be determined by the Committee, in its sole discretion from time to timetime but may not, in any event, exceed 75 percent of his Considered Compensation. In addition, the election to have Salary Deferral Contributions made, the ability to change the rate percentage of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant Member will be permitted to make (or prospectively change) a Salary Deferral Contribution election at least once during each Plan Year.