Basic Match Sample Clauses
The "Basic Match" clause establishes the fundamental criteria or conditions that must be met for an agreement, transaction, or process to proceed. Typically, this clause outlines the essential requirements that both parties must satisfy, such as matching terms, specifications, or qualifications. For example, in a procurement contract, it might require that a supplier's offer matches the buyer's stated needs in terms of price and delivery schedule. The core function of this clause is to ensure that both parties are aligned on the basic terms, thereby reducing misunderstandings and facilitating a smoother agreement process.
Basic Match. The “total match” for the Plan Year is equal to the Participant’s “total deferrals” for the Plan Year, up to a maximum total match for the Plan Year of 6% of the Participant’s Compensation for the Plan Year, except that the match in this Plan is $0 if the Participant has not made the maximum contributions to the Savings Plan that are excludable from his gross income pursuant to Code §402(g).
Basic Match. The basic match for a Participant in this Plan each Plan Year shall equal the lesser of his Participant Deferrals for the Plan Year or 8% of the his Compensation for the Plan Year that is in excess of the limit on compensation that may be taken into account in the Savings Plan pursuant to Code §401(a)(17).