Common use of Making and Modifying an Election Clause in Contracts

Making and Modifying an Election. An Eligible Employee shall be entitled to increase, decrease or resume his or her Elective Deferral Contributions and/or Employee After-Tax Contributions with the following frequency during the Plan Year (select one): ¨ (1) annually ¨ (2) semi-annually ¨ (3) quarterly ¨ (4) monthly þ (5) other (specify): at any time (insert any period that is more frequent than annually) Any such increase, decrease or resumption shall be effective as of the first payroll period coincident with or next following the first day of each period set forth above. A Participant may completely discontinue making Elective Deferral Contributions and/or Employee After-Tax Contributions at any time and such discontinuance shall be effective as of the first payroll period that begins after notice is provided to the Plan Administrator.

Appears in 1 contract

Sources: Adoption Agreement (Books a Million Inc)

Making and Modifying an Election. An Eligible Employee shall be entitled to increase, decrease or resume his or her Elective Deferral Contributions and/or Employee After-Tax Contributions with the following frequency during the Plan Year (select one): ¨ (1) annually annually. ¨ (2) semi-annually annually. ¨ (3) quarterly quarterly. ¨ (4) monthly monthly. þ (5) other (specify): at any time daily (insert any period that is more frequent than annually) ). Any such increase, decrease or resumption shall be effective as of the first payroll period coincident with or next following the first day of each period set forth above. A Participant may completely discontinue making Elective Deferral Contributions and/or Employee After-Tax Contributions at any time and such discontinuance shall be effective as of the first payroll period that begins after notice is provided to the Plan Administrator.

Appears in 1 contract

Sources: 401(k) Profit Sharing Plan Adoption Agreement (Colfax CORP)

Making and Modifying an Election. An Eligible Employee shall be entitled to increase, decrease or resume his or her Elective Deferral Contributions and/or Employee After-Tax Contributions with the following frequency during the Plan Year (select one): ¨ (1) annually annually. ¨ (2) semi-annually annually. ¨ (3) quarterly quarterly. ¨ (4) monthly monthly. þ (5) other (specifyother(specify): at any time each payroll period (insert any period that is more frequent than annually) ). Any such increase, decrease or resumption shall be effective as of the first payroll period coincident with or next following the first day of each period set forth above. A Participant may completely discontinue making Elective Deferral Contributions and/or Employee After-Tax Contributions at any time and such discontinuance shall be effective as of the first payroll period that begins after notice is provided to the Plan Administrator.

Appears in 1 contract

Sources: 401(k) Profit Sharing Plan Adoption Agreement (Atlas America Inc)

Making and Modifying an Election. An Eligible Employee shall be entitled to increase, decrease or resume his or her Elective Deferral Contributions and/or Employee After-Tax Contributions with the following frequency during the Plan Year (select one): ¨ ): (1) annually ¨ annually. (2) semi-annually ¨ annually. (3) quarterly ¨ quarterly. (4) monthly þ monthly. (5) other (specify): at any time ____(insert any period that is more frequent than annually) ). Any such increase, decrease or resumption shall be effective as of the first payroll period coincident with or next following the first day of each period set forth above. A Participant may completely discontinue making Elective Deferral Contributions and/or Employee After-Tax Contributions at any time and such discontinuance shall be effective as of the first payroll period that begins after notice is provided to the Plan Administrator.

Appears in 1 contract

Sources: Defined Contribution Plan and Trust (Triad Guaranty Inc)