Overflow Plan Clause Samples

Overflow Plan. To the extent that, for any Plan Year, shares of Company Stock cannot be allocated to a Participant’s account by reason of any Code limitations, including Code section 401(a)(17), Code section 415 and Code section 401(a)(4), appropriate credits will be made to the accounts of the affected Participants under a non-qualified Overflow Plan to be established by the Company if and to the extent necessary to protect the expectations of Participants as described in Section 4.2; provided, however, that if any such unallocable shares are Financed Shares, such Financed Shares shall, to the maximum extent permitted under the Code, be credited to a 415 Suspense Account in the manner set forth in Section 5.4.3. Special terms of the Overflow Plan may be established by the Company’s Board of Directors, including provisions that would disregard some Compensation over the Code section 401(a)(17) limit in allocating credits under the Overflow Plan. Without limiting Board’s powers pursuant to the foregoing, unless and until the Company’s Board of Directors shall otherwise resolve, the Overflow Plan shall not take into consideration for any Plan Year Compensation in excess of the Code section 401(a)(17) limit.