Common use of Automatic Increase Clause in Contracts

Automatic Increase. The automatic Elective Deferral Contribution shall increase as described in (i) below, unless an election is made in (ii) below to not include an automatic increase. i) The automatic Elective Deferral Contribution shall increase by 1% as soon as administratively feasible on or after each subsequent Yearly Date up to a maximum automatic Elective Deferral Contribution of 10%, unless a different increase percentage, increase date, or maximum is specified in A, B, or C below. (Select any that apply.) A. of Compensation shall be the automatic increase percentage. B. The increase date shall be (Select (1), (2), (3), (4), (5), or (6).) 1) each Yearly Date. 2) . (Month and day.) 3) , (Month and day.) beginning on . (Month, day, and year.

Automatic Increase. The automatic Elective Deferral Contribution shall increase as described in (i) below, unless an election is made in (ii) below to not include an automatic increase. i) The automatic Elective Deferral Contribution shall increase by 1% as soon as administratively feasible on or after each subsequent Yearly Date up to a maximum automatic Elective Deferral Contribution of 10%, unless a different automatic increase percentage, increase date, or maximum is specified in A, B, or C below. (Select any that apply.) A. of Compensation shall be the automatic increase percentage. . B. x The increase date shall be (Select (1), (2), (3), (4), (5), or (6).) 1) x each Yearly Date. 2) . (Month and day.) 3) , (Month and day.) beginning on . (Month, day, and year.