Common use of Minimum Benefit Clause in Contracts

Minimum Benefit. For any Plan Year that the Plan is a Top-Heavy Plan, the sum of the Profit-Sharing Contributions (and forfeitures attributable thereto) and 401(k) Bonus Contributions allocated on behalf of any Participant who is not a Key Employee shall not be less than the lesser of 3% of such Participant' compensation, or in the case where the Employer has no Defined Benefit Plan which designates this Plan to satisfy the requirements of Section 401 of the Code, the largest percentage of Employer Contributions (and forfeitures attributable thereto), as a percentage of the Key Employee's compensation, allocated on behalf of any Key Employee for that year; provided, however, that if the Adoption Agreement provides that 401(k) Bonus Contributions for a Plan Year are allocated only to accounts of Participants who elected Salary Deferral Contributions for the Plan Year, 401(k) Bonus Contributions shall not be taken into consideration in determining whether the account of a Participant who is not a Key Employee has received the required minimum allocation. The minimum allocation is determined without regard to any Social Security contribution. This minimum allocation shall be made even though, under other Plan provisions, the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation for the year because of (a) the Participant's failure to complete 1,000 hours of service (or any equivalent provided in the Plan), or (b) the Participants failure to make mandatory employee contributions, or (c) Compensation less than a stated amount. The provisions of this Section 13.5 shall not apply to any Participant who was not employed by the Employer on the last day of the Plan Year, nor shall they apply to any Participant to the extent the Participant is covered under any other plan or plans the Employer and the Employer has provided in the Adoption Agreement that the minimum allocation or benefit requirement applicable to Top-Heavy Plans will be met in the other plan or plans. The minimum allocation required by this Section 13.5 (to the extent required to be nonforfeitable under Code Section 416(b)) may not be forfeited under Code Section 411(a)(3)(B) or (D).

Minimum Benefit. For any Plan Year that in which the Plan is a Top-Heavy Plan, the sum following shall apply: (a) The amount of the Profit-Sharing Company Contributions (and forfeitures attributable thereto) and 401(k) Bonus Contributions allocated on behalf pursuant to Article IV to the account of any each Participant who is a Non-Key Employee and is not a Key Employee participant in a Defined Benefit Plan of the Company shall not not, when expressed as a percentage of such Participant's Compensation for such Plan Year, be less than the lesser of of: (i) three percent (3% of such Participant' compensation, or in the case where the Employer has no Defined Benefit Plan which designates this Plan to satisfy the requirements of Section 401 of the Code, the largest percentage of Employer Contributions (and forfeitures attributable thereto%), as a or (ii) the percentage of for the Key Employee's compensation, allocated on behalf of any Key Employee for that yearwhom such percentage is the highest minus the amount of Company (or Related Company) contributions plus forfeitures allocated to such Participant's account(s) under any other Qualified Defined Contribution Plan(s) maintained by the Company or by a Related Company, if any; provided, however, that if the Adoption Agreement provides that 401(ksubparagraph (ii) Bonus Contributions for a above shall not apply in any Plan Year are allocated only in which this Plan is required to accounts be aggregated with a Qualified Defined Benefit Plan in order to enable such plan to meet the requirements of Participants Sections 401 (a)(4) or 410 of the Code. (b) For purposes of this paragraph (1) -- (i) The appropriate minimum allocations under this paragraph shall be made to the account of each active and inactive Participant who elected Salary Deferral Contributions for is a Non-Key Employee who has not Separated from Service as of the Anniversary Date falling within such Plan YearYear and is not a participant in a Defined Benefit Plan of the Company; and (ii) This and any other Qualified Defined Contribution Plan(s) maintained by the Company or by a Related Company shall be treated as a single plan. (c) Notwithstanding the foregoing, 401(k) Bonus Contributions any elective contributions made on behalf of Non-Key Employees under a cash or deferred arrangement maintained by the Company, including this Plan, if applicable, shall not be taken into consideration in determining whether treated as Company Contributions for purposes of meeting the account minimum contribution requirement. However, any elective contributions made on behalf of a Participant who is not a Key Employee has received the required minimum allocation. The minimum allocation is determined without regard to any Social Security contribution. This minimum allocation Employees under this Plan shall be made even though, under other treated as Company Contributions for purposes of meeting the minimum contribution requirement. (d) For any Plan provisions, the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation for the year because of (a) the Participant's failure to complete 1,000 hours of service (or any equivalent provided Year in the Plan), or (b) the Participants failure to make mandatory employee contributions, or (c) Compensation less than a stated amount. The provisions of this Section 13.5 shall not apply to any Participant who was not employed by the Employer on the last day of which the Plan Year, nor shall they apply to any Participant to the extent the Participant is covered under any other plan or plans the Employer and the Employer has provided in the Adoption Agreement that the minimum allocation or benefit requirement applicable to Top-Heavy Plans will be met the Defined Benefit Plan of the Company shall provide the minimum benefit described in Section 416(c)(1) of the other plan or plans. The minimum allocation required by this Section 13.5 (to Code and the extent required to be nonforfeitable under Code Section 416(b)) may not be forfeited under Code Section 411(a)(3)(B) or (D)Treasury Regulations issued thereunder for each Participant in such an arrangement who is a Non-Key Employee and who also participates in such Defined Benefit Plan.

Minimum Benefit. For any Plan Year that in which the Plan is a Top-Top Heavy Plan, the sum allocation to the ESOP Account or Profit Sharing Account, if any, of each non-Key Employee who was a Participant, performed an Hour of Service at any time during such Plan Year, and was employed on the last day of the Profit-Sharing Contributions (and forfeitures attributable thereto) and 401(k) Bonus Contributions allocated on behalf of any Participant who Plan Year, shall be in an amount which is not a Key Employee shall not be less than the lesser smaller of (a) three percent (3% %) (or four percent (4%) if the Employer also maintains a defined benefit plan covering the Participant and uses the 1.25 figure from Section 5.10 to calculate the sum of total Additions to the Plan) of such Participant' compensation’s Section 415 Compensation as defined at Section 5.9, but excluding amounts received prior to the Employee’s Entry Date; or (b) in the case where the Employer has no Defined Benefit Plan defined benefit plan which designates this Plan to satisfy the requirements of Section 401 of the Code, the largest percentage of Employer Contributions (contributions and forfeitures attributable thereto)Amounts Forfeited, as a percentage of the a Key Employee's ’s applicable compensation, allocated on behalf of any Key Employee for that year; providedPlan Year. If the Employer maintains other qualified employee pension plans as defined under ERISA, however, that the Employer may elect to disregard this Section if the Adoption Agreement provides that 401(k) Bonus Contributions for a Employer has appropriately elected and the Participants of this Plan Year are allocated only to accounts of Participants who elected Salary Deferral Contributions for receiving the Plan Year, 401(k) Bonus Contributions shall not be taken into consideration in determining whether minimum benefit required by the account of a Participant who is not a Key Employee has received the required minimum allocationCode under another qualified employee benefit plan. The minimum allocation is shall be determined without regard to any Social Security social security contribution. This minimum allocation shall be made even though, under other Plan provisions, the Participant would not otherwise be entitled to receive an allocation, allocation or would have received a lesser allocation for the year Plan Year because of (a) the Participant's ’s failure to complete 1,000 hours Hours of service Service (or any equivalent provided in the Plan), or (b) the Participants Participant’s failure to make mandatory employee contributionscontributions to the Plan, or (c) Compensation failure to receive compensation less than a stated amount. The provisions of this Section 13.5 shall not apply to any Participant who was not employed by the Employer on the last day of the Plan Year, nor shall they apply to any Participant to the extent the Participant is covered under any other plan or plans the Employer and the Employer has provided in the Adoption Agreement that the minimum allocation or benefit requirement applicable to Top-Heavy Plans will be met in the other plan or plans. The minimum allocation required by this Section 13.5 (to the extent required to be nonforfeitable under Code Section 416(b)) may not be forfeited under Code Section 411(a)(3)(B) or (D).