Common use of Salary Savings Agreement Clause in Contracts

Salary Savings Agreement. The Employer shall contribute and allocate to each Participant's account an amount equal to the amount withheld from the Compensation of such Participant pursuant to his or her Salary Savings Agreement. If applicable, the maximum percentage is specified in Section 6 above. An Employee who has terminated his or her election under the Salary Savings Agreement other than for Hardship reasons may not make another Elective Deferral: [ ] (i) until the first day of the next Plan Year. [ ] (ii) until the first day of the [ ] next valuation period. [ ] second valuation period following termination. [ ] third valuation period following termination. [x] (iii) for a period of 1 month(s) (not to exceed 12 months).

Appears in 1 contract

Samples: Adoption Agreement (Safeguard Scientifics Inc Et Al)

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Salary Savings Agreement. The Employer shall contribute and allocate to each Participant's account an amount equal to the amount withheld from the Compensation of such Participant pursuant to his or her Salary Savings Agreement. If applicable, the maximum percentage is specified in Section 6 above. An Employee who has terminated his or her election under the Salary Savings Agreement other than for Hardship reasons may not make another Elective Deferral: [ ] ](i) until the first day of the next Plan Year. [ [x] (ii) until the first day of the [ [x] next valuation period. [ ] second valuation period following termination. [ ] third valuation period following termination. [x] [ ](iii) for a period of 1 _____________ month(s) (not to exceed 12 months).

Appears in 1 contract

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

Salary Savings Agreement. The Employer shall contribute and allocate to each Participant's Participants account an amount equal to the amount withheld from the Compensation of such Participant pursuant to his or her Salary Savings Agreement. If applicable, the maximum percentage is specified in Section 6 above. An Employee who has terminated his or her election under the Salary Savings Agreement other than for Hardship reasons may not make another Elective Deferral: [ [_] (i) until the first day of the next Plan Year. [ [X] (ii) until the first day of the [ [X] next valuation period. [ [_] second valuation period following termination. [ [_] third valuation period following termination. [x_] (iii) for a period of 1 _ month(s) (not to exceed 12 months).

Appears in 1 contract

Samples: Adoption Agreement (Westfield Financial Inc)

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Salary Savings Agreement. The Employer shall contribute and allocate to each Participant's account an amount equal to the amount withheld from the Compensation of such Participant pursuant to his or her Salary Savings Agreement. If applicable, the maximum percentage is specified in Section 6 above. An Employee who has terminated his or her election under the Salary Savings Agreement other than for Hardship reasons may not make another Elective Deferral: [ ] (i) until the first day of the next Plan Year. [ ] (ii) until the first day of the [ [X] next valuation period. period [ ] second valuation period following termination. [ ] third valuation period following termination. [x[ ] (iii) for a period of 1 month(s) (not to exceed 12 months).

Appears in 1 contract

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

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