Common use of CASH OR DEFERRED ARRANGEMENT Clause in Contracts

CASH OR DEFERRED ARRANGEMENT. If the Employer in its Adoption Agreement Section 3.02 elects a cash or deferred arrangement, a Participant may elect to make a cash election against his/her proportionate share of the Employer's cash or deferred contribution, in accordance with the Employer's Adoption Agreement elections. A Participant's proportionate share of the Employer's cash or deferred contribution is the percentage of the total cash or deferred contribution which bears the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all Participants for the Plan Year. For purposes of determining each Participant's proportionate share of the cash or deferred contribution, a Participant's Compensation is his/her Compensation as determined under Section 1.07, excluding any effect the proportionate share may have on the Participant's Compensation for the Plan Year. The Plan Administrator will determine the proportionate share prior to the Employer's actual contribution to the Trust, to provide the Participants the opportunity to file cash elections. The Employer will pay directly to the Participant the portion of his/her proportionate share the Participant has elected to receive in cash.

CASH OR DEFERRED ARRANGEMENT. If the Employer in its Adoption Agreement Section 3.02 elects a cash or deferred arrangement, a Participant may elect to make a cash election against his/her proportionate share of the Employer's ’s cash or deferred contribution, in accordance with the Employer's ’s Adoption Agreement elections. A Participant's ’s proportionate share of the Employer's ’s cash or deferred contribution is the percentage of the total cash or deferred contribution which bears the same ratio that the Participant's ’s Compensation for the Plan Year bears to the total Compensation of all Participants for the Plan Year. For purposes of determining each Participant's ’s proportionate share of the cash or deferred contribution, a Participant's ’s Compensation is his/her Compensation as determined under Section 1.07, excluding any effect the proportionate share may have on the Participant's ’s Compensation for the Plan Year. The Plan Administrator will determine the proportionate share prior to the Employer's ’s actual contribution to the Trust, to provide the Participants the opportunity to file cash elections. The Employer will pay directly to the Participant the portion of his/her proportionate share the Participant has elected to receive in cash.