Section # “Allocations” shall mean the amount determined under Section 3.2 below for any applicable period.
Conditions for sharing in contributions/allocations. Notwithstanding anything herein to the contrary (other than Sections
periodic allocations of operating and overhead expenses among Borrower and its Subsidiaries may be made;
by reference to the Key Employees and their allocations in the separate plan of that Participating Employer;
The Members are aware of the income tax consequences of the allocations made by this Article V and the economic impact of the allocations on the amounts receivable by them under this Agreement. The Members hereby agree to be bound by the provisions of this Article V in reporting their share of Company income and loss for income tax purposes.
“Discretionary Employer Contribution Credit Subaccount” means the bookkeeping subaccount established to reflect the allocations of Discretionary Employer Contribution Credits hereunder.
Changes. Changes to allocations for future deferrals will be applied to the next contribution period following the date of the election.
He shall continue to participate in income allocations of the earnings and/or losses of the Trust Fund pursuant to Section 5.3;
Section # Deferral Election. For Plan Years prior to 2011, a Member may elect before the beginning of the applicable Plan Year to defer distribution of his Allocation for such Plan Year, resulting in a Deferred Allocation. For the 2010 Plan Year the election is limited to the portion of the Allocation attributable to the Company Matching Contribution. Such election shall be made on a form provided by, and delivered to, the Committee prior to the first day of the Plan Year. Amounts deferred hereunder shall be credited to the Member’s Account. A Member’s Allocations for any applicable period beginning after 2010, and the 2010 Allocations not attributable to Company Matching Allocations, shall automatically be credited to the Member’s Account.
Employee Stock Ownership Plan (ESOP). Company and Employee agree that Employee will be eligible for allocations in accordance with the terms of the Employee Stock Ownership Plan.
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