Conditional Contributions. Conditional Contributions in a decimal percentage (of at least 1.00%) of such Participant’s Compensation, as elected in the Plan Sponsor’s Adoption Agreement, for each Contribution Period during which: (i) such Participant has a current election in force to make Participant Contributions under Section 5.1 that meets the minimum Participant Contribution percentage that such Plan Sponsor has elected in its Adoption Agreement; and (ii) the Plan Sponsor has made or is simultaneously making such minimum Participant Contribution. The minimum Participant Contribution percentage will be elected in the Plan Sponsor’s Adoption Agreement, but will be subject to any rules made by the Administrator as to amount of Contribution or manner or timing of election.
Appears in 2 contracts
Sources: Horizon 401(k) Plan, 401(k) Plan