Tax Deferred Contributions. Commencing with the date as of which an Eligible Employee becomes a Participant, he may elect to have Tax Deferred Contributions of not less than one percent nor more than 16 percent of his Compensation made to the Plan on his behalf by his Employer. Tax-Deferred Contributions on behalf of a Participant shall commence with the first payment of Compensation made on or after the date on which his election is effective which cannot precede the earlier of (i) the performance of services relating to the Tax-Deferred Contributions and (ii) when the Compensation that is subject to the election would be payable to the Participant in the absence of an election to defer unless necessary to accommodate a bona fide administrative concern, the primary purpose to which is not to accelerate deductions. In no event, however, may the Tax Deferred Contributions (excluding Catch-Up Contributions, if any) made to the Plan on his behalf during any calendar year when aggregated with all of his other elective deferrals under any other plan, contract, or arrangement of an Employer or a Related Corporation, exceed the “applicable limit” for the Participant’s taxable year beginning in the calendar year. The “applicable limit” for a Participant’s taxable year beginning in the 2006 calendar year is $15,000 and for each subsequent calendar year is an adjusted amount established by the Secretary of the Treasury pursuant to Section 402(g)(5) of the Code. In the event a Participant elects to have his Employer make any Tax Deferred Contribution on his behalf, the Compensation of such Participant shall be reduced by the percentage he elected to have contributed in accordance with the terms of the Compensation reduction authorization in effect for such Participant pursuant to paragraph (a) of Section 2.1, subject, however, to the $15,000 (as adjusted) annual aggregate limitation on cash or deferred contributions, including Tax Deferred
Tax Deferred Contributions. For each month, the Company shall make a Tax Deferred Contribution to the Trust on behalf of each Participant who has entered into a Salary Reduction Agreement equal to the amount specified in said Salary Reduction Agreement. In addition to the Tax Deferred Contributions made by the Company pursuant to the preceding sentence, the Company may, in order to cause the test in Section 6.02(a)(i) or (ii) and/or the test in Section 6.04(a)(i) or (ii) to be satisfied for a Plan Year, make a special Tax Deferred Contribution to the Trust for such Plan Year, which special Tax Deferred Contribution shall be in an amount determined by the Company in its sole discretion and shall be allocated for the benefit of all Participants who are employed on the last day of such Plan Year and are not Highly Compensated Employees either (i) in proportion to each such Participant's Compensation for such Plan Year or (ii) in equal dollar amounts on a per capita basis, as shall be designated by the Company at the time such special Tax Deferred Contribution is made. Notwithstanding anything hereinabove to the contrary, Tax Deferred Contributions shall be subject to the limitations described in Article VI of the Plan.
Tax Deferred Contributions. The Company shall make a Tax Deferred Contribution to the Trust for each Compensation pay period on behalf of each Participant who has entered into a Salary Reduction Agreement, equal to the amount specified in said Salary Reduction Agreement. Notwithstanding anything herein to the contrary, Tax Deferred Contributions shall be subject to the limitations described in Article VI of the Plan.
Tax Deferred Contributions
