Common use of Special Allocation Rules Clause in Contracts

Special Allocation Rules. Notwithstanding any other provision in this Plan to the contrary, no Stock acquired by this Plan in a sale to which Section 1042 of the Code applies may be allocated directly or indirectly under this Plan: (a) during the non-allocation period (as such term is defined below), for the benefit of: (i) any Participant who makes an election under Section 1042(a) of the Code with respect to Stock sold to this Plan, or (ii) any Participant who is related to the Participant making the election under Section 1042(a) of the Code or to the deceased Participant (within the meaning of Section 267(b) of the Code); provided, however, that this Subsection (a)(ii) shall not apply to any Participant who is a lineal descendent of a Participant as long as the aggregate amount allocated to the benefit of all such lineal descendants during the non-allocation period (as such term is defined below) does not exceed more than five percent (5%) of the Stock (or amounts allocated in lieu thereof) held by this Plan which are attributable to the sale to this Plan by any person related to such descendants (within the meaning of Section 267(c)(4)) in a transaction to which Section 1042 of the Code applies, or (b) for the benefit of any Participant who owns (after the application of the attribution rules contained in Section 318(a) of the Code, but disregarding Section 318(a)(2)(B)(i) of the Code) more than twenty-five percent (25%) of: (i) any class of the outstanding stock of the Holding Company or of any other corporation which is a member of a controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company, or (ii) the total value of any class of outstanding stock of the Holding Company or of any other corporation which is a member of the controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company. For purposes of this Section 4.7, the "non-allocation period" shall mean a period beginning on the date of the sale of the stock to the Plan and ending on the later of: (c) the date which is ten (10) years after the sale of the Stock to this Plan to which Section 1042 of the Code applies, or (d) the date of the Plan allocation of Stock attributable to the final payment of any acquisition indebtedness incurred in connection with a sale of such Stock to this Plan to which Section 1042 of the Code applies. For purposes of this Section 4.7 a Participant shall be deemed to be a twenty-five percent (25%) or greater shareholder if such Participant owns more than twenty-five percent (25%) of the shares at any time during a one (1) year period ending: (e) on the date of a sale of the Stock to this Plan to which Section 1042 of the Code applies, or (f) on the date as of which the Stock sold to this Plan through a sale to which Section 1042 of the Code applies is allocated to Participants. The provisions contained in this Section 4.7 shall be interpreted consistent with and in accordance with Section 409(n) of the Code.

Special Allocation Rules. Notwithstanding any other provision in this Plan to the contrary, no Stock acquired by this Plan in a sale to which Section 1042 of the Code applies may be allocated directly or indirectly under this Plan: (a) during the non-allocation period (as such term is defined below), for the benefit of: (i) any Participant who makes an election under Section 1042(a) of the Code with respect to Stock sold to this Plan, or (ii) any Participant who is related to the Participant making the election under Section 1042(a) of the Code or to the deceased Participant (within the meaning of Section 267(b) of the Code); provided, however, that this Subsection (a)(ii) shall not apply to any Participant who is a lineal descendent of a Participant as long as the aggregate amount allocated to the benefit of all such lineal descendants during the non-allocation period (as such term is defined below) does not exceed more than five percent (5%) of the Stock (or amounts allocated in lieu thereof) held by this Plan which are attributable to the sale to this Plan by any person related to such descendants (within the meaning of Section 267(c)(4)) in a transaction to which Section 1042 of the Code applies, or (b) for the benefit of any Participant who owns (after the application of the attribution rules contained in Section 318(a) of the Code, but disregarding Section 318(a)(2)(B)(i) of the Code) more than twenty-five percent (25%) of: (i) any class of the outstanding stock of the Holding Company or of any other corporation which is a member of a controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company, or (ii) the total value of any class of outstanding stock of the Holding Company or of any other corporation which is a member of the controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company. For purposes of this Section 4.7, the "non-allocation period" shall mean a period beginning on the date of the sale of the stock Stock to the Plan and ending on the later of: (c) the date which is ten (10) years after the sale of the Stock to this Plan to which Section 1042 of the Code applies, or (d) the date of the Plan allocation of Stock attributable to the final payment of any acquisition indebtedness incurred in connection with a sale of such Stock to this Plan to which Section 1042 of the Code applies. For purposes of this Section 4.7 a Participant shall be deemed to be a twenty-five percent (25%) or greater shareholder if such Participant owns more than twenty-five percent (25%) of the shares at any time during a one (1) year period ending: (e) on the date of a sale of the Stock to this Plan to which Section 1042 of the Code applies, or (f) on the date as of which the Stock sold to this Plan through a sale to which Section 1042 of the Code applies is allocated to Participants. The provisions contained in this Section 4.7 shall be interpreted consistent with and in accordance with Section 409(n) of the Code.

Special Allocation Rules. Notwithstanding any other provision in this Plan to the contrary, no Stock acquired by this Plan in a sale to which Section 1042 of the Code applies may be allocated directly or indirectly under this Plan: (a) during the non-allocation period (as such term is defined below), for the benefit of: : (i) any Participant who makes an election under Section 1042(a) of the Code with respect to Stock sold to this Plan, or or (ii) any Participant who is related to the Participant making the election under Section 1042(a) of the Code or to the deceased Participant (within the meaning of Section 267(b) of the Code); provided, however, that this Subsection (a)(ii) shall not apply to any Participant who is a lineal descendent of a Participant as long as the aggregate amount allocated to the benefit of all such lineal descendants during the non-allocation period (as such term is defined below) does not exceed more than five percent (5%) of the Stock (or amounts allocated in lieu thereof) held by this Plan which are attributable to the sale to this Plan by any person related to such descendants (within the meaning of Section 267(c)(4)) in a transaction to which Section 1042 of the Code applies, or (b) for the benefit of any Participant who owns (after the application of the attribution rules contained in Section 318(a) of the Code, but disregarding Section 318(a)(2)(B)(i) of the Code) more than twenty-five percent (25%) of: : (i) any class of the outstanding stock of the Holding Company or of any other corporation which is a member of a controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company, or or (ii) the total value of any class of outstanding stock of the Holding Company or of any other corporation which is a member of the controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company. For purposes of this Section 4.7, the "non-allocation period" shall mean a period beginning on the date of the sale of the stock to the Plan and ending on the later of: (c) the date which is ten (10) years after the sale of the Stock to this Plan to which Section 1042 of the Code applies, or (d) the date of the Plan allocation of Stock attributable to the final payment of any acquisition indebtedness incurred in connection with a sale of such Stock to this Plan to which Section 1042 of the Code applies. For purposes of this Section 4.7 a Participant shall be deemed to be a twenty-five percent (25%) or greater shareholder if such Participant owns more than twenty-five percent (25%) of the shares at any time during a one (1) year period ending: (e) on the date of a sale of the Stock to this Plan to which Section 1042 of the Code applies, or (f) on the date as of which the Stock sold to this Plan through a sale to which Section 1042 of the Code applies is allocated to Participants. The provisions contained in this Section 4.7 shall be interpreted consistent with and in accordance with Section 409(n) of the Code.

Special Allocation Rules. Notwithstanding any other provision in this Plan to the contrary, no Stock acquired by this Plan in a sale to which Section 1042 of the Code applies may be allocated directly or indirectly under this Plan: (a) during the non-allocation period (as such term is defined below), for the benefit of: (i) any Participant who makes an election under Section 1042(a) of the Code with respect to Stock sold to this Plan, or (ii) any Participant who is related to the Participant making the election under Section 1042(a) of the Code or to the deceased Participant (within the meaning of Section 267(b) of the Code); provided, however, that this Subsection (a)(ii) shall not apply to any Participant who is a lineal descendent of a Participant as long as the aggregate amount allocated to the benefit of all such lineal descendants during the non-allocation period (as such term is defined below) does not exceed more than five percent (5%) of the Stock (or amounts allocated in lieu thereof) held by this Plan which are attributable to the sale to this Plan by any person related to such descendants (within the meaning of Section 267(c)(4)) in a transaction to which Section 1042 of the Code applies, or (b) for the benefit of any Participant who owns (after the application of the attribution rules contained in Section 318(a) of the Code, but disregarding Section 318(a)(2)(B)(i) of the Code) more than twenty-five percent (25%) of: (i) any class of the outstanding stock of the Holding Company or of any other corporation which is a member of a controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company, or (ii) the total value of any class of outstanding stock of the Holding Company or of any other corporation which is a member of the controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company. For purposes of this Section 4.7, the "“non-allocation period" ” shall mean a period beginning on the date of the sale of the stock to the Plan and ending on the later of: (c) the date which is ten (10) years after the sale of the Stock to this Plan to which Section 1042 of the Code applies, or (d) the date of the Plan allocation of Stock attributable to the final payment of any acquisition indebtedness incurred in connection with a sale of such Stock to this Plan to which Section 1042 of the Code applies. For purposes of this Section 4.7 a Participant shall be deemed to be a twenty-five percent (25%) or greater shareholder if such Participant owns more than twenty-five percent (25%) of the shares at any time during a one (1) year period ending: (e) on the date of a sale of the Stock to this Plan to which Section 1042 of the Code applies, or (f) on the date as of which the Stock sold to this Plan through a sale to which Section 1042 of the Code applies is allocated to Participants. The provisions contained in this Section 4.7 shall be interpreted consistent with and in accordance with Section 409(n) of the Code.

Special Allocation Rules. Notwithstanding any other provision in this Plan to the contrary, no Stock acquired by this Plan in a sale to which Section 1042 of the Code applies may be allocated directly or indirectly under this Plan: (a) during the non-allocation period (as such term is defined below), for the benefit of: (i) any Participant who makes an election under Section 1042(a) of the Code with respect to Stock sold to this Plan, or (ii) any Participant who is related to the Participant making the election under Section 1042(a) of the Code or to the deceased Participant (within the meaning of Section 267(b) of the Code); provided, however, that this Subsection (a)(iia) (ii) shall not apply to any Participant who is a lineal descendent of a Participant as long as the aggregate amount allocated to the benefit of all such lineal descendants during the non-allocation period (as such term is defined below) does not exceed more than five percent (5%) of the Stock (or amounts allocated in lieu thereof) held by this Plan which are attributable to the sale to this Plan by any person related to such descendants (within the meaning of Section 267(c)(4267(c) (4)) in a transaction to which Section 1042 of the Code applies, or (b) for the benefit of any Participant who owns (after the application of the attribution rules contained in Section 318(a) of the Code, but disregarding Section 318(a)(2)(B)(i) of the Code) more than twenty-five percent (25%) of: (i) any class of the outstanding stock of the Holding Company or of any other corporation which is a member of a controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company, or (ii) the total value of any class of outstanding stock of the Holding Company or of any other corporation which is a member of the controlled group of corporations (within the meaning of Section 409(1)(4) of the Code) which includes the Holding Company. For purposes of this Section 4.7, the "non-allocation period" shall mean a period beginning on the date of the sale of the stock to the Plan and ending on the later of: (c) the date which is ten (10) years after the sale of the Stock to this Plan to which Section 1042 of the Code applies, or (d) the date of the Plan allocation of Stock attributable to the final payment of any acquisition indebtedness incurred in connection with a sale of such Stock to this Plan to which Section 1042 of the Code applies. For purposes of this Section 4.7 a Participant shall be deemed to be a twenty-five percent (25%) or greater shareholder if such Participant owns more than twenty-five percent (25%) of the shares at any time during a one (1) year period ending: (e) on the date of a sale of the Stock to this Plan to which Section 1042 of the Code applies, or (f) on the date as of which the Stock sold to this Plan through a sale to which Section 1042 of the Code applies is allocated to Participants. The provisions contained in this Section 4.7 shall be interpreted consistent with and in accordance with Section 409(n) of the Code.