Annual Excess definition

Annual Excess means, for each Participant affected, the amount by which the allocable Annual Additions for such Participant exceeds or would exceed the Maximum Annual Addition for such Participant.
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Annual Excess has the meaning set forth in Section 2.02(c).
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Annual Excess means, for each Participant affected, the amount by which the allocable Annual Additions for such Participant exceeds or would exceed the Maximum Annual Addition for such Participant. XIII.2 AVOIDING AN ANNUAL EXCESS. Notwithstanding any other provision of this Plan, a Participant's "Annual Additions" for any Plan Year, which is hereby designated as the "limitation year" for the Plan, as that term is used in Section 415 of the Code, shall not exceed his or her "Maximum Annual Additions." If, at any time during a Plan Year, the allocation of additional Contributions for a Plan Year would produce an Annual Excess, the affected Participant shall receive the Maximum Annual Addition from Contributions, and, at the direction of the Committee, for the remainder of the Plan Year Contributions will be reduced, if possible, to the amount needed for each affected Participant to receive the Maximum Annual Addition.
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Examples of Annual Excess in a sentence

  • If a Participant's Accounts have or would have an Annual Excess, the Annual Excess shall be corrected by reducing the Annual Addition to this Plan before reductions have been made to other Related Defined Contribution Plans.

  • Buyer shall have the right to order Seller to curtail deliveries of Facility Energy, provided that Buyer shall pay Seller for all Deemed Delivered Energy associated with such Buyer-directed curtailments in excess of the Curtailment Cap at the Contract Price, subject to the Annual Excess Energy provisions.

  • If any Annual Excess remains, the Company Contributions for the Plan Year shall be reduced to the extent necessary to eliminate the Annual Excess.

  • Subject to the provisions set forth in this Paragraph 6, the Republic covenants and agrees to apply the Annual Excess Payment Capacity, if any, for any calendar year from and including 2004 to and including 2009, towards the repurchase of any Public Performing Indebtedness.

  • This additional time off shall be debited against the Annual Excess Days Worked (AEDW).

  • If any Annual Excess remains, the Participant’s QNECs or QMACs for the Plan Year shall be reduced to the extent necessary to eliminate the Annual Excess.

  • The Committee shall determine the Annual Target Award and Annual Excess Award for each Participant.

  • Additional awards of restricted stock units only may be made for Annual Excess Awards.

  • The amount of any Exempt Persons Annual Excess Loss for a Reporting Year shall accrue interest at the Bank Rate from the last day of the applicable Reporting Year and shall be paid by the City to the Concessionaire no later than 90 Days following the determination of the amount of such Exempt Persons Annual Excess Loss.

  • It is expected that 100 percent of the value of the Annual Excess Award shall be awarded annually in the form of restricted stock units.


More Definitions of Annual Excess

Annual Excess means, in relation to a Buyer, in respect of a Contract Year, the amount (if any), expressed in GJ, by which the aggregate quantities of Gas (including the aggregate quantity of Buyer's Make-up Gas taken by that Buyer in that Contract Year as a result of Clause 2.3):
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Annual Excess shall have the meaning set forth in Section 5.1(a)(iii).
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Related to Annual Excess

  • Annual Capital Expenditure Adjustment means, for any retail Property, an amount equal to the product of (a) $0.15 multiplied by (b) the aggregate net rentable area (determined on a square feet basis) of all such Properties.

  • Reference Year shall have the meaning given it in the Summary.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.