Basic Matching Contribution Formula. The Employer shall make a basic Matching Contribution on behalf of (choose one): o each eligible Employee o each eligible Employee who is NOT a Highly Compensated Employee in an amount equal to 100% of the Elective Deferrals of the eligible Employee to the extent that such contributions do not exceed 1% of Compensation, plus 50% of such Elective Deferrals that exceed 1% of Compensation but do not exceed 6% of Compensation.
Appears in 2 contracts
Sources: Savings and Investment Plan Document (Sterling Chemicals Inc), Adoption Agreement (Sterling Chemicals Inc)