Example ContractsClausesEligibility for Other Contributions
Eligibility for Other Contributions
Eligibility for Other Contributions contract clause examples

The Employer shall make a contribution on behalf of each Participant who satisfies the requirements of [Section 5.01(b)(ii)] equal to [complete the ones that are applicable]:

The Participant’s vested interest in the amount credited to his Account attributable to Employer contributions other than matching contributions shall be based on the following schedule:

No Employer or Employee contributions may be made to this Plan for the "year" other than salar y deferral contributions described in Section 13.3(a), matching or Nonelective Contributions described in Section 13.3(b) and rollover contributions described in Regulation §1.402(c)-2, Q&A-1(a). Furthermore, the provisions of Section 4.4 which implement the limitations of Code §415 apply to contributions made pursuant to this Section (other than Catch-Up Contributions).

Age/Service Requirements – An employee who is a member of the eligible class of employees shall be eligible for participation for the purpose of the employer profit sharing provision after he has satisfied the following participation requirement(s):

Contributions. In order to meet its obligations hereunder, the Company may, in its sole discretion, contribute to a trust the funds necessary to provide the benefits hereunder. The assets of any such trust shall remain subject to the claims of the Company’s general creditors. Notwithstanding the foregoing, the Company’s obligations hereunder shall constitute general, unsecured obligations, payable solely out of its general assets, and no Participant or other person shall have any right to specific assets. Title to and beneficial ownership of any assets, whether cash or investments, that the Company may set aside or earmark to meet its obligations hereunder, shall at all times remain in the Company; provided that legal title to any assets placed in a trust shall be in the trustee.

Contributions. The Employer shall provide the Administrator with all information required by the Administrator to make a proper allocation of Employer contributions for each Plan Year. Within a reasonable period of time after the date of receipt by the Administrator of such information, the Administrator shall allocate contributions as follows:

A Participant shall receive an allocation of other Employer contributions determined in accordance with [Section 5.01(b)(i)] for the Plan Year if he satisfies the following requirements [complete the one that is applicable]:

Eligibility. An Employee of any Employer who # is an active participant in the Savings Plan during the Plan Year, # has Earnings in excess of the Code §401(a)(17) Limit for such Plan Year (“Excess Earnings”), and # is a member of the Employer's select group of management or highly compensated employees shall be eligible to participate in the Plan.

Eligibility. The Administrator may designate any of the following as a Participant from time to time, to the extent of the Administrator’s authority: any officer or other employee of the Company or its Affiliates; an individual that the Company or an Affiliate has engaged to become an officer or employee; a consultant who provides services to the Company or its Affiliates; or a Director, including a Non-Employee Director. The Administrator’s granting of an Award to a Participant will not require the Administrator to grant an Award to such individual at any future time. The Administrator’s granting of a particular type of Award to a Participant will not require the Administrator to grant any other type of Award to such individual.

ELIGIBILITY. An Eligible Director shall become a Participant upon completion of an Election (as defined in Section 4) or as otherwise provided in Section 4.

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