Transitional or Special Provisions Sample Clauses
The Transitional or Special Provisions clause establishes temporary rules or exceptions that apply during a changeover period or in specific circumstances within a contract. Typically, this clause outlines how certain obligations, rights, or procedures will be handled differently for a defined time frame, such as when new regulations take effect or when parties are shifting from an old agreement to a new one. Its core function is to ensure a smooth transition and prevent confusion or disputes by clearly specifying how unique situations are to be managed during periods of change.
Transitional or Special Provisions. [Enter any transitional or special provisions relating to a Rollover Account and the Plan as restated.]
Transitional or Special Provisions. ¨ Election NOT to Grandfather Pre-January 1, 2005 Vested Balances. If this Option is elected, all Deferral Accounts shall be subject to the rules set forth in the post December 31, 2004 restatement. If the Option is not elected, the Deferral Accounts attributable to transfers from predecessor plans prior to December 31, 2004 and contributions that are vested as of December 31, 2004 shall be segregated from the Deferral Accounts attributable to contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005. The terms of the Plan in effect on and after January 1, 2005 shall only apply to transfers and contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005. [Enter any other transitional or special provisions relating to any Predecessor Plan Account and the Plan as restated] Effective January 1, 2006, any Employer may, in its discretion, elect to contribute for all of any of its employees participating in the Plan or under any contribution feature (i.e., Employer Matching Contributions, Excess Profit Sharing Employer Non-Elective Contributions and SERP Employer Non-Elective Contributions), less than the amount otherwise called for under the other provisions of the Adoption Agreement and/or to make Employer Matching Contributions at a different rate than otherwise called for under the other provisions of the Adoption Agreement. ¨ (c) If elected, this Plan is intended to be paired with a qualified cash or deferred arrangement as described in subparagraph 2.3(d) of the Plan Document? If Elected – Name of qualified cash or deferred arrangement plan
Transitional or Special Provisions. [Enter any transitional or special provisions relating to the Plan as restated] _____________________ _________________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________ ____________________________________________ _______________________ [List any provisions required to be grandfathered or special transitional provisions, such as allocation formula or forms of payment in effective prior to the date the Restatement is signed.]
Transitional or Special Provisions. ¨ Election NOT to Grandfather Pre-January 1,
Transitional or Special Provisions. [Enter any transitional or special provisions relating to the Plan as restated] Effective upon the consummation of the Agreement and Plan of Reorganization, dated August 13, 2019 by and between C&F Financial Corporation, a Virginia Corporation, and Peoples Bankshares. Inc, a Virginia corporation, pre-tax elections effective as of Dec 31, 2019 by participants in the VBA Defined Contribution Plan for Peoples Community Bank will carryover and be deemed to have been made under the plan. All such participants will be deemed to have made an election (even if zero) in December 2019 for purposes of auto-enrollment / auto-escalation. Effective June 30, 2023 C&F Finance Company SBA Defined Contribution Plan was merged into C&F Bank SBA Defined Contribution Plan.