Company Credits definition

Company Credits means amounts credited as either Basic Company Credits or Past Service Credits by the Company to Compensation Accounts, in the sole discretion of the Committee, pursuant to Section 7.

Company Credits means additions to the Retirement Account determined in accordance with the procedures of Section 4.5.

Company Credits means the amount determined in accordance with Section 3.5.

Examples of Company Credits in a sentence

• Company Credits shall be credited to a Participant’s Account at such time or times as may be determined by the Plan Administrator in its sole discretion, but in no event less frequently than annually, as of the last day of a Plan Year.

• For purposes of determining a Participant’s Company Credits under Section 6.3 and Discretionary Credits under Section 6.4 for any Plan Year, Compensation shall include only Base Salary, Bonus Compensation and Commission Compensation actually paid to the Participant during such Plan Year.

• The Plan Administrator shall establish and maintain an Account with respect to each Participant’s annual Compensation Deferrals, Matching Credits, Company Credits, and/or Discretionary Credits, as applicable.

• Solely for purposes of determining eligibility for Company Credits under Section 6.3, “Eligible Employee” includes any employee of the Company who meets the requirements set forth in (i) and (ii) above and who, for a relevant Plan Year, is paid Compensation in excess of the limitation on includible compensation under Section 401(a)(17) of the Code.

• A Participant who is an Eligible Employee for purposes of this Section 6.3 for any Plan Year shall receive Company Credits for such Plan Year in an amount equal to the Participant’s Maximum Matching Percentage for such Plan Year multiplied by the Participant’s Compensation in excess of the annual dollar limitation set forth in Section 401(a)(17) of the Code for such Plan Year.

More Definitions of Company Credits

Company Credits means amounts, if any, credited to a Participant’s Account for a Plan Year, as determined by the Committee in its sole discretion from time to time.

Company Credits means credits against tax liability available to BGLS in the relevant period under the Internal Revenue Code of 1986, as amended.

Company Credits means Company Credits as defined under the Retirement Plan.

Company Credits means the amount credited to a Participant’s Account under the provisions of section 3.1 or 3.2, whichever applicable.

Company Credits means amounts credited to a Participant’s Account that were approved before March 1, 2021 pursuant to provisions of the Plan relating to Company Credits that were in effect before the Restatement Effective Date.

Company Credits has the meaning set forth in Section 1(g).

Company Credits means the amount of any credits contributed by the Company under Section 5.3, together with any earnings thereon. DOCPROPERTY "CUS_DocIDChunk0" LEGAL02/42582680v7