Common use of Method of Contribution Clause in Contracts

Method of Contribution. Contributions intended to qualify as Catch-up Contributions shall be made in accordance with such procedures as the Committee may specify from time to time. Such procedures shall, without limitation, permit a Catch-up Eligible Member for a calendar year to elect to make Elective Contributions in excess of any percentage limit lower than 75% otherwise applicable under Section 3.1.1, in an amount for each pay period equal to the total amount of catch-up contributions permitted for the calendar year under Section 16.4 divided by the number of payroll periods (or remaining payroll periods) applicable to the Member in such year, or in any greater amount the Member may specify that the Committee determines is permitted under such procedures, and to suspend and reinstate such elections in accordance with such procedures.