Common use of Additional Allocations Clause in Contracts

Additional Allocations. Unless specified otherwise in the Adoption Agreement, in the event that the allocations made pursuant to subsections (a), (b), (c), (e) or (f) of this Section 4.06, would result in a failure to satisfy the requirements of Code section 410(b), or of the regulations thereunder, the Plan Administrator may determine that an additional number of Nonhighly Compensated Employees shall be eligible to share in the allocation made under such subsections. Such additional number of such Nonhighly Compensated Employees shall be the minimum number necessary to enable the Plan to qualify under Code section 410(b). Such additional Nonhighly Compensated Employees who shall be eligible to share in such allocation shall be selected in the following order:

Appears in 4 contracts

Samples: Adoption Agreement (BRPP LLC), Adoption Agreement (Sonic Corp), Metals Usa Inc

AutoNDA by SimpleDocs

Additional Allocations. Unless specified otherwise in the Adoption Agreement, in the event that the allocations made pursuant to subsections (a), (b), (c), (e) or (f) of this Section 4.06, would result in a failure to satisfy the requirements of Code section 410(b), or of the regulations Regulations thereunder, the Plan Administrator may determine that an additional number of Nonhighly Compensated Employees shall be eligible to share in the allocation made under such subsections. Such additional number of such Nonhighly Compensated Employees shall be the minimum number necessary to enable the Plan to qualify under Code section 410(b). Such additional Nonhighly Compensated Employees who shall be eligible to share in such allocation shall be selected in the following order:

Appears in 1 contract

Samples: Fairfax Financial Holdings LTD/ Can

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.