Common use of Make-Up Contributions Clause in Contracts

Make-Up Contributions. As soon as practicable following the timely reemployment of a participant who has taken a Military Absence, the Plan administrator shall notify such participant of his or her right to make up 401(k) savings contributions to which he or she would have been entitled to make but for the period of Military Absence. 401(k) savings contributions made in accordance with this subsection (e) shall be known as 401(k) savings make-up contributions. Subject to the limitation of Article 13 in effect in each year of such participant's Military Absence to which 401(k) savings make-up contributions relate, and provided that the maximum amount of 401(k) savings make-up contributions attributable to each year of Military Absence does not exceed the dollar limitation contained in section 402(g) of the Code in effect during each such year, the amount of 401(k) savings make-up contributions permitted by this subsection (e) shall be equal to (i) the maximum amount of 401(k) savings contributions, unadjusted by any earnings thereon, that such participant would have been permitted to make under subsection (a) during the period of Military Absence if such participant had continued to be employed by and received plan compensation from the employer during such period, (ii) reduced by the amount of 401(k) savings contributions, if any, actually made during the period of Military Absence. For purposes of the preceding sentence, a participant will be treated as having received plan compensation during the period of Military Absence equal to (i) the compensation such Participant would have received during such period if he or she had not taken a Military Absence, determined based on the rate of pay the participant would have received from the employer but for the Military Absence, or (ii) if the plan compensation the participant would have received during such period was not reasonably certain, the participant's average plan compensation during the 12-month period immediately preceding the Military Absence or, if shorter, the period of employment immediately preceding the Military Absence. Notwithstanding any provision in this Plan to the contrary, 401(k) savings make-up contributions shall not be subject to the limitations of Article 13 in the year such contributions are made and shall not be taken into account, during either the year in which such contributions were made or the years to which such contributions relate during the period of Military Absence, for purposes of applying Sections 5.6, 6.6 or 6.9 or the provisions of Article 14. The Participant shall contribute to the Plan the amount of 401(k) savings make-up contributions elected by him or her (not to exceed the amount described in the preceding paragraph) during the period beginning with the date of reemployment with the employer and extending to the lesser of (i) three times the period of Military Absence or (ii) 5 years.

Make-Up Contributions. As soon as practicable following the timely reemployment of a participant who has taken a Military Absence, the Plan administrator shall notify such participant of his or her right to make up 401(k) savings after-tax employee contributions to which he or she would have been entitled to make but for the period of Military Absence. 401(k) savings After-tax employee contributions made in accordance with this subsection (eb) shall be known as 401(k) savings after-tax employee make-up contributions. Subject to the limitation of Article 13 in effect in each year of such participant's Military Absence to which 401(k) savings after-tax employee make-up contributions relate, and provided that the maximum amount of 401(k) savings make-up contributions attributable to each year of Military Absence does not exceed the dollar limitation contained in section 402(g) of the Code in effect during each such year, the amount of 401(k) savings after-tax employee make-up contributions permitted by this subsection (eb) shall be equal to (i) the maximum amount of 401(k) savings after-tax employee contributions, unadjusted by any earnings thereon, that such participant would have been permitted to make under subsection (a) during the period of Military Absence if such participant had continued to be employed by and received plan compensation from the employer during such period, (ii) reduced by the amount of 401(k) savings after-tax employee contributions, if any, actually made during the period of Military Absence. For purposes of the preceding sentence, a participant will be treated as having received plan compensation during the period of Military Absence equal to (i) the compensation such Participant would have received during such period if he or she had not taken a Military Absence, determined based on the rate of pay the participant would have received from the employer but for the Military Absence, or (ii) if the plan compensation the participant would have received during such period was not reasonably certain, the participant's average plan compensation during the 12-month period immediately preceding the Military Absence or, if shorter, the period of employment immediately preceding the Military Absence. Notwithstanding any provision in this Plan to the contrary, 401(k) savings after-tax employee make-up contributions shall not be subject to the limitations of Article 13 in the year such contributions are made and shall not be taken into account, during either the year in which such contributions were made or the years to which such contributions relate during the period of Military Absence, for purposes of applying Sections 5.6, 6.6 or 6.9 or the provisions of Article 14. The Participant shall contribute to the Plan the amount of 401(k) savings after-tax employee make-up contributions elected by him or her (not to exceed the amount described in the preceding paragraph) during the period beginning with the date of reemployment with the employer and extending to the lesser of (i) three times the period of Military Absence or (ii) 5 years. See the first sentence of Section 5.2(b) for an additional restriction on after-tax employee contributions that applies in certain cases to participants who made a hardship withdrawal.