Employee Contributions. Each eligible employee may authorize payroll deductions at a minimum of 1 percent up to a maximum of 15 percent of such employees Compensation for each pay period. The Company will maintain book accounts showing the amount of payroll deductions made by each Participant for each Offering. No interest will accrue or be paid on payroll deductions.
Prior to , a person may not enhance the amounts credited under this Plan by making discretionary employee contributions to the person's Savings Plan account.
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:
Rollover Contributions. This Plan shall not accept a direct rollover or rollover contribution of an “eligible rollover distribution” as such term is defined in [Section 10.9-1]1] of the Plan.
Minimum Contributions. For any Top-Heavy Year, each Employer shall make a special contribution on behalf of each Participant to the extent that the total allocations to his or her Account pursuant to [Section 4] is less than the lesser of:
The Executive Vice President & Chief Human Resources Officer or the Plan Administrator may credit a Participant who transfers to an Affiliate that is not an Employer with an Annual Contribution based on his Compensation with such Affiliate without the need for such Affiliate to adopt the ERA as an Employer.
Capital Contributions. Each Member named on [Exhibit D] to the First A&R LLC Agreement was credited with the IPO Date Capital Account Balance set forth on [Exhibit D] to the First A&R LLC Agreement in respect of its Interest specified thereon. No Member shall be required to make additional Capital Contributions.
Matching Contributions. An Eligible Employee will be eligible for a Matching Contribution under this Plan, which shall be credited to an Eligible Employee’s Post-2004 Account, based on his or her Salary Deferrals under this Plan.
The Participant’s vested interest in the amount credited to his Account attributable to
In accordance with the Companys administrative procedures, any Eligible Employee may make one or more Rollover Contributions to the Plan. An Eligible Employee who makes a Rollover Contribution at a time when he or she is not a Member for other purposes shall become a Restricted Member. A Rollover Contribution shall be permitted only if it meets all of the following conditions:
Each Members Company Contributions Account shall be credited with the amount of any Company Contributions allocated as of a day or days within the Plan Year as the Company shall determine in its sole discretion. Each Members Salary Deferral Accounts shall be credited with the amount of Salary Deferrals withheld, transfers from Company Contributions Accounts received and Rollover Contributions received in such calendar month.
ESOP Contributions: For each Plan Year during which an Exempt Loan is outstanding, the Employer shall make an ESOP Contribution to the Trust in such amount and at such times as shall be determined by the Company.
SKERP Contributions. You will receive your employer-provided SKERP contributions from the period through the end of the Employment Period, including an Additional Supplemental Company Contribution equal to 5% of salary earned by you through the end of the Employment Period and 5% of the bonus earned by you for the fiscal year ended , which was paid in .
No Company contribution shall be made to any Prior Profit Sharing Account with respect to any period after , but such a contribution may be made after , with respect to a prior period.
Corrective Contributions. If, with respect to any Plan Year, # an error is made in crediting Company Matching Contributions or earnings to a Participants Account, # an error is made with respect to the administration of the Participants Account or with respect to the investment of the assets of the Trust Fund, or # a market value adjustment is made upon termination of an investment, which error or market value adjustment results in an incorrect amount being credited to the Participants Account or to any amount being incorrectly deducted from a Participants Account, remedial action may be taken to correct such error or adjustment in accordance with this [Section 4.4(e)]. In such event, the Account balances of such affected Participants may be adjusted to the extent necessary to reflect the Account balances which would have existed had no such error or adjustment been made. The Employer may make additional contributions to the Account of any affected Participant to place the affected Participants Account in the position that would have existed if the error or adjustment had not been made. Any Account adjustments or additional contributions made under this [Section 4.4(e)] shall be made on a uniform and nondiscriminatory basis.
Employee. This Agreement is personal to Employee and without the prior written consent of the Employer shall not be assignable by Employee otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Employee’s legal representatives.
Employee. "Employee" means any common law employee, Self-Employed Individual, Leased Employee or other person the Code treats as an employee of a Participating Employer for purposes of the Participating Employer's qualified plan. Either the Adoption Agreement or a participation agreement to the Adoption Agreement may designate any Employee, or class of Employees, as not eligible to participate in the Plan.
Employee. Employee means any person who is employed by the Company, including any such person who also serves as a member of the Board.
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