Common use of Additional Match Clause in Contracts

Additional Match. (Only available if (f)(i) above is selected.) The Employer may make additional Matching Contributions. If the Employer makes additional Matching Contributions to the Plan, the Employer shall provide the Plan Administrator (or Trustee, as applicable), written instructions describing (i) how the additional Matching Contribution formula will be allocated to Participants (e.g., a uniform percentage of Elective Deferrals or a flat dollar amount), (ii) the calculation period(s) to which the discretionary Matching Contribution formula applies, and (iii) if applicable, a description of each business location, business classification, or employee group subject to separate additional Matching Contribution allocation formulas. Such instructions must be provided no later than the date on which the additional Matching Contribution is made to the Plan. A summary of these instructions must be communicated to Participants who receive additional Matching Contributions. The summary must be communicated to Participants no later than 60 days following the date on which the last additional Matching Contribution is made to the Plan for a Plan Year. Additional Matching Contributions, if made, shall be made for each person who was an Active Participant at any time during the applicable calculation period(s). The calculation period selected in C above shall not apply to this additional match. The calculation period(s) specified in the instructions above shall apply. If the applicable calculation period is not Plan Year, additional Matching Contributions must be contributed to the Plan by the last day of the following Plan-year Quarter. The rate of additional match will not increase as the amount of Elective Deferral Contributions increases, no Highly Compensated Employee will be entitled to a greater rate of match than any Nonhighly Compensated Employee, Elective Deferral Contributions that are over 6% of Compensation will not be matched, and the additional Matching Contribution for a Participant will not exceed 4% of his Compensation for the Plan Year. 1) Additional Matching Contributions will be subject to the vesting schedule selected for Matching Contributions.

Additional Match. (Only available if (f)(ia)(i) above is selected.) The Employer may make additional Matching Contributions. If the Employer makes additional Matching Contributions to the Plan, the Employer shall provide the Plan Administrator (or Trustee, as applicable), written instructions describing (i) how the additional Matching Contribution formula will be allocated to Participants (e.g., a uniform percentage of Elective Deferrals or a flat dollar amount), (ii) the calculation period(s) to which the discretionary Matching Contribution formula applies, and (iii) if applicable, a description of each business location, business classification, or employee group subject to separate additional Matching Contribution allocation formulas. Such instructions must be provided no later than the date on which the additional Matching Contribution is made to the Plan. A summary of these instructions must be communicated to Participants who receive additional Matching Contributions. The summary must be communicated to Participants no later than 60 days following the date on which the last additional Matching Contribution is made to the Plan for a Plan Year. Additional Matching Contributions, if made, shall be made for each person who was an Active Participant at any time during the applicable calculation period(s). The calculation period selected in C above shall not apply to this additional match. The calculation period(s) specified in the instructions above shall apply. If the applicable calculation period is not Plan Year, additional Matching Contributions must be contributed to the Plan by the last day of the following Plan-year Quarter. The rate of additional match will not increase as the amount of Elective Deferral Contributions increases, no Highly Compensated Employee will be entitled to a greater rate of match than any Nonhighly Compensated Employee, Elective Deferral Contributions that are over 6% of Compensation will not be matched, and the additional Matching Contribution for a Participant will not exceed 4% of his Compensation for the Plan Year. . Additional Matching Contributions will be Qualified Matching Contributions, unless otherwise specified in (1) below. 1) Additional Matching Contributions will be subject to the vesting schedule selected for Matching Contributions.