Individual method Sample Clauses
The 'Individual method' clause defines the specific approach or procedure that an individual party must follow to fulfill their obligations under an agreement. Typically, this clause outlines the steps, standards, or processes that are unique to each party, such as how they must report information, perform services, or deliver goods. By specifying these individualized methods, the clause ensures that each party understands their unique responsibilities and reduces the risk of misunderstandings or disputes regarding performance expectations.
Individual method. The Employer will contribute: 🞎 (i) % of each Participant’s Plan Compensation plus 🞎 (ii) % of each Participant’s Excess Compensation. [Note: The percentage of Excess Compensation may not exceed the Maximum Disparity Rate. See Section 3.02(b)(2)(i)(C) of the Plan.]
Individual method. If the Employer elects the Permitted Disparity Method using the individual method, each Eligible Participant will receive an allocation of the Employer Contribution equal to the amount determined under the contribution formula under Part 4, #12.c.(1) of the Agreement. Under the individual Permitted Disparity Method, the Employer will contribute (i) a fixed percentage of each Eligible Participant’s Included Compensation for the Plan Year plus (ii) a fixed percentage of each Eligible Participant’s Excess Compensation. The percentage of each Eligible Participant’s Excess Compensation under (ii) may not exceed the lesser of the percentage of total Included Compensation contributed under (i) or the Applicable Percentage under the following table:
Individual method. Under the individual method, each Participant will receive an allocation of the Employer Contribution equal to the amount determined under the contribution formula under AA §6- 2(c)(1). A Participant may not receive an allocation with respect to Excess Compensation that exceeds the Maximum Disparity Rate.