Common use of Accruals Preserved Clause in Contracts

Accruals Preserved. In years subsequent to the last Plan Year in which this Plan is a top heavy plan, the other benefit accrual rules of the Plan Statement shall be applied to determine the accrued benefit of each Participant, except that the application of such other rules shall not serve to reduce a Participant's accrued benefit as determined under this Section 3.4.

Appears in 2 contracts

Samples: Trust Agreement (Entegris Inc), Employee Stock Ownership Plan Trust Agreement (Entegris Inc)

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Accruals Preserved. In years subsequent to the last Plan Year in which this Plan is a top heavy plan, the other benefit accrual rules of the Plan Statement shall be applied to determine the accrued benefit of each Participant, except that the application of such other rules shall not serve to reduce a Participant's ’s accrued benefit as determined under this Section 3.4.

Appears in 1 contract

Samples: People’s Utah Bancorp Employee Stock Ownership Plan Trust Agreement (People's Utah Bancorp)

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Accruals Preserved. In years subsequent to the last Plan Year in which this Plan is a top heavy plan, the other benefit accrual rules of the Plan Statement document shall be applied to determine the accrued benefit of each Participant, except that the application of such other rules shall not serve to reduce a Participant's ’s accrued benefit as determined under this Section 3.4.

Appears in 1 contract

Samples: Piper Jaffray Companies

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