Otis Contribution definition

Otis Contribution shall have the meaning set forth in the Recitals.
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Otis Contribution means the amount credited to a Participant’s Otis Contribution Account in accordance with the formula set forth in Article V.
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Examples of Otis Contribution in a sentence

  • Effective as of the Spin-off, Participants may exchange Deferred Stock Units credited to their Otis Contribution Account for other Investment Funds and elect to have future Otis Contributions directed to any Investment Fund as provided in Section 4.5.

  • Except as provided in Section 5.6, any Otis Contribution made prior to the date of the Spin-off shall be in the form of Deferred Stock Units.

  • Otis Contributions will be allocated to the Participant’s Otis Contribution Account and Investment Funds on or as soon as administratively practicable following each pay period, but no less frequently than once with respect to each Plan Year.

  • The Corporation may in its sole discretion credit additional amounts to Participants’ Otis Contribution Accounts, may specify vesting requirements applicable to such additional amounts and need not treat all Participants uniformly.

  • Effective as of the Spin-off, Participant Contribution Account distributions and Otis Contribution Account distributions will be made in cash.

  • Allocation of Otis Contributions and Participant deferrals shall generally be made to each Participant’s Otis Contribution Account on or immediately following each pay period, but no less frequently than once with respect to each Plan Year.

  • A Participant shall not receive an Otis Contribution with respect to any Participant deferrals that would otherwise have been paid to the Participant prior to the Participant’s meeting the participation requirements of Section 3.1(b) of the Plan.

  • A Participant Contribution Account and an Otis Contribution Account will be established for each Participant.

  • Participants may change the asset allocation of their existing Participant Contribution Accounts, and Otis Contribution Account balances (effective as of or after the Spin-off), or future deferrals, as permitted by the Committee.

  • Otis Contribution Accounts shall be credited with Deferred Stock Units.

Related to Otis Contribution

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Cash Contribution refers to a direct payment of Contribution in Canadian currency.

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1.

  • In-kind contribution means a contribution of goods or services received by a candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee, which contribution is paid for by a person or entity other than the recipient committee, but does not include services provided without compensation by an individual volunteering a part of or all of his or her time on behalf of a candidate or committee.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Member contribution means a contribution under regulation 32;

  • Excess Contribution means a contribution that exceeds the

  • Accumulated contributions means the sum of all

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Member contributions means all amounts paid to ASRS by a member.

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula:

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Nonelective Contribution means an amount contributed by a participating

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Employer Contributions means all amounts paid into ASRS by an

  • Contribution Date has the meaning set forth in Section 4.3 hereof.