Example ContractsClausesDiscretionary Employer Contributions
Discretionary Employer Contributions
Discretionary Employer Contributions contract clause examples

Discretionary Employer Contributions. The Company may at any time in its sole discretion elect to credit Discretionary Employer Contributions to Participants’ Accounts. At the time that the Company determines that it shall credit Discretionary Employer Contributions, it shall in its sole discretion specify how such credits will be allocated among the Accounts of Participants, the timing of such allocation, and the vesting schedule applicable to such credits (as adjusted for deemed earnings and losses thereon).

Discretionary Employer Contributions. A Participant shall vest in the portion of his Account attributable to Discretionary Employer Contributions (as adjusted for the equivalent of earnings and losses thereon pursuant to Article VI) in accordance with the vesting schedule established by the Company at the time the Discretionary Employer Contribution is approved by the Company

Discretionary Employer Contributions. The Company may at any time in its sole discretion elect to credit Discretionary Employer Contributions to Participants’ Accounts. At the time that the Company determines that it shall credit Discretionary Employer Contributions, it shall in its sole discretion specify how such credits will be allocated among the Accounts of Participants, the timing of such allocation, and the vesting schedule applicable to such credits (as adjusted for deemed earnings and losses thereon).

Discretionary Employer Contributions. A Participant shall vest in the portion of his Account attributable to Discretionary Employer Contributions (as adjusted for the equivalent of earnings and losses thereon pursuant to Article VI) in accordance with the vesting schedule established by the Company at the time the Discretionary Employer Contribution is approved by the Company

Employer Discretionary Contributions Account. A Participant shall separately vest in each separate subaccount established under the Participant's Employer Discretionary Contributions Account upon completion as follows:

Subject to Sections 4.4 and 4.5, a Participant shall have a vested right to the portion of his or her Account attributable to an Employer Discretionary Contribution, adjusted for any earnings or losses thereon, upon the first to occur of # the fifth anniversary of the date on which such Employer Discretionary Contribution is credited to his or her Account or # the date on which the Participant attains age sixty-five (65). Notwithstanding the foregoing, subject to Sections 4.4 and 4.5, a Participant who is a former ERIP participant and is designated as a “Group 1 Participant”, as provided for in Appendix A attached hereto, shall have a vested right to the portion of his or her Account attributable to an Employer Discretionary Contribution, adjusted for any earnings or losses thereon, upon the first to occur of # the fifth anniversary of the date on which such Employer Discretionary Contribution is credited to his or her Account or # the date on which the Participant attains age sixty-two (62).

Discretionary Contributions. During Executive’s employment hereunder, Executive shall be allowed to participate in the [[Executive:Organization]] Deferred Compensation Plan (as amended from time to time, the “DCP”). Executive shall be eligible to receive unvested contributions from Company to Executive’s “Employer Discretionary Account” (as defined in the DCP) as described in this Section 2.4(a) during each year that Executive is employed hereunder until Executive reaches the age of 70 years. During the first calendar quarter of each year that Executive is employed hereunder, beginning with the first calendar quarter of 2019, if Company’s return on invested capital (“ROIC”) is within the top 75th percentile among the Bloomberg Peer Group based on the trailing twelve months’ ROIC for Company and each member of the Bloomberg Peer Group as of the end of the third calendar quarter of the immediately preceding year (i.e., for the first calendar quarter of 2019, ROIC for Company and each member of the Bloomberg Peer Group would be measured from the third calendar quarter of 2017 through the third calendar quarter of 2018), as determined by the Supervisory Board of Directors (or a committee thereof) in its sole discretion, Company shall credit Executive’s Employer Discretionary Account with an unvested contribution in an amount equal to 10% of Executive’s base salary as of December 31 of the immediately preceding year (such contribution, a “Discretionary Contribution”). Executive shall cease to be eligible to receive additional Discretionary Contributions to Executive’s Employer Discretionary Account after the date that Executive reaches the age of 70 years. For the avoidance of doubt, each Discretionary Contribution is intended to constitute a “Employer Discretionary Deferral” under the DCP and is in addition to any “Employer Matching Deferral” (as defined in the DCP) that may be made by Company on Executive’s behalf.

If Employer contributions are permitted, complete # and/or (b). Otherwise complete (c).

If Employer contributions are permitted, complete # and/or (b). Otherwise complete (c).

Employer Contributions. As and when a payroll deduction and/or a contribution is made by the employee to his or her account, such employee shall receive a matching contribution to his or her account equal to 10% of such deductions and/or contributions by the employee, provided that, in any calendar year, such matching contributions by the Company shall not exceed $2,500 in the aggregate. The Company may, with 60 days’ notice to participating employees, change the percentage for the Company’s matching contribution.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.