Company Profit Sharing Contribution definition
Examples of Company Profit Sharing Contribution in a sentence
A Member shall have a fully vested interest at all times (i) in his Member Accounts and (ii) in his Company Profit Sharing Contribution Account balance determined as of July 31, 1997.
A Member who has completed at least two full Years of Service as of August 1, 1997 also shall be fully vested at all times (i) in his Company Matching Contributions Account and (ii) in his Company Profit Sharing Contribution Account determined at any time after July 31, 1997.
Company Profit Sharing Contributions shall be credited to eligible Members' Company Profit Sharing Contribution Accounts.
A partially-vested Member is a Member whose Vested Interest, determined under Section 6.07(a), in either his Company Matching Contribution Account or his Company Profit Sharing Contribution Account, or both, is less than 100%.
The Company or an Employer may contribute to the Trust, as of the end of each Plan Year, a percentage of the Company's Net Profits as a Company Profit Sharing Contribution.
If, pursuant to Section 10.01, a partially-vested Member receives a cash-out distribution before he incurs a Forfeiture Break in Service (as defined in Subsection (e) below), the cash-out distribution will result in an immediate forfeiture of the nonvested portion(s) of the Member's Company Matching and Company Profit Sharing Contribution Account(s).
The Company Profit Sharing Contribution, if any, shall be allocated to all Members eligible to share in the contribution according to the ratio that each Member's Allocation Pay Amount for the Plan Year bears to the total Allocation Pay Amount for all eligible Members for the Plan Year.
For each Plan Year ending before January 1, 2010, an Employer may make a Parthenon Company Profit Sharing Contribution, to be allocated as described in the following “Allocation Method” paragraph, to the eligible Participants described in the “Eligible Participants” paragraph.
Any Parthenon Company Profit Sharing Contribution (including any Forfeiture amounts applied as Parthenon Company Profit Sharing Contributions in accordance with Section 8.4) shall be allocated to each eligible Participant’s Parthenon Company Profit Sharing Contribution Account in the proportion that each eligible Participant’s Pay for the portion of the Plan Year in which he or she is a Participant in the Plan bears to the total Pay of all such eligible Participants.
An Employer shall make any Parthenon Company Profit Sharing Contribution in cash as soon as administratively reasonable after the end of the applicable Plan Year and, for purposes of deducting such Contributions, by not later than the Company’s federal tax filing date, including extensions.