Minimum Contribution Provisions Sample Clauses

Minimum Contribution Provisions. 66 13.03 Top-Heavy Plan Definition................................. 67 13.04 Key Employee.............................................. 69 13.05 Non-Key Employee.......................................... 70 13.06 Limitation on Contributions............................... 70

Minimum Contribution Provisions. Each Participant who is a non-key employee (as defined in Section 13.05 below) and who is an Employee as of the last day of such Plan Year shall be entitled to a minimum contribution which, when added to the amount of any employer contributions (excluding Basic and Matching Contributions made with respect to Plan Years commencing on or after January 1, 1989) allocated to the Participant's accounts under this Plan and all other defined contribution plans maintained by the Company or any Affiliated Company, will cause the sum of all such contributions to equal the lesser of (a) three percent (3%) of such Participant's compensation for such Plan Year or (b) the percentage at which contributions are made for the key employee (as defined in Section 13.04 below) for whom such percentage is the highest for such Plan Year; provided, if such Participant is also a non-key employee covered under a defined benefit plan maintained by the Company or an Affiliated Company, such Participant shall be entitled to a minimum benefit under such defined benefit plan instead of the minimum contribution described in this Section 13.02. For purposes of this Section 13.02, "compensation" shall be determined within the meaning of Section 415 of the Code; provided, however, that in no event shall a Participant's compensation exceed (a) $200,000 for any Plan Year commencing on or after January 1, 1989 (or such larger amount as

Minimum Contribution Provisions. Subject to the provisions of Sections 15.3 and 15.4, each Eligible Employee who (i) is a Non-Key Employee (as defined in Section 15.7); and (ii) is employed on the last day of the Plan Year shall be entitled to have Employer Matching Contributions allocated to his Account of not less than 3% (the "Minimum Contribution Percentage") of his Compensation (as defined for purposes of applying the limits of Code Section 415) or such other amount, if any, as may be necessary to comply with the rules established by the Internal Revenue Service. The Minimum Contribution Percentage set forth above shall be reduced for any Plan Year to the percentage at which contributions are made (or required to be made) under the Plan for the Plan Year for the Key Employee (as defined in Section 15.6) for whom such percentage is the highest for such Plan Year. For this purpose, the percentage with respect to a Key Employee shall be determined by dividing the contributions made for such Key Employee by his total Compensation for the Plan Year not to exceed $160,000 or such higher amount as indexed pursuant to Code Sections 401(a)(17) and 415(d) and the applicable regulations thereunder. Contributions taken into account under the immediately preceding sentence shall include contributions under this Plan and under all other defined contribution plans required to be included in an Aggregation Group (as defined in Section 15.5), but shall not include any plan required to be included in such Aggregation Group if such plan enables a defined -54- 66 benefit plan required to be included in such group to meet the requirements of the Code prohibiting discrimination as to contributions or benefits in favor of employees who are officers, shareholders or Highly Compensated Employees, or prescribing the minimum participation standards. Contributions taken into account under this Section 15.2 shall not include any contributions under the Social Security Act or any other Federal or state law.