A Participant’s “Discretionary Matching Contribution Account Sample Clauses


A Participant’s “Discretionary Matching Contribution Account shall be credited for a Plan Year in the amount, if any, determined by the Company in its sole discretion, on behalf of each Participant who is employed by an Employer on the last day of that year, and with respect to whom before-tax contributions that could have been made by the Participant to the Retirement Plan have been limited for such Plan Year as a result of the application of sections 401(a)(17), 401(k)(3), 401(m), 402(g) or 415 of the Code. Such Discretionary Matching Contribution shall be expressed as a percentage of the contribution credited to the Participant’s Supplemental Before-Tax Account pursuant to paragraph (a) above and, in the discretion of the Company, the maximum before-tax elective contributions to the Retirement Plan (regardless of whether the Participant in fact makes the maximum contribution); provided, however, that the Discretionary Matching Contribution with respect to any Plan Year shall not exceed fifty percent of that portion of the sum of the Participant’s before-tax elective contribution to the Retirement Plan (based on the assumption that the Participant made the maximum before-tax elective contribution to the Retirement Plan) and the Participant’s before-tax elective contribution to this Plan which does not exceed six percent (one percent with respect to a Participant who is also an active participant in the Assured Guaranty Bermuda Pension Plan, as defined in the Retirement Plan) of the Participant’s compensation (as defined in the Retirement Plan, but disregarding the limitations therein) for that Plan Year.