Prototype Plan Clause Samples
The Prototype Plan clause outlines the requirements and procedures for developing, reviewing, and approving a prototype before full-scale production or implementation begins. Typically, this clause specifies the standards the prototype must meet, the timeline for its completion, and the process for client or stakeholder feedback and approval. By establishing clear expectations and steps for the prototype phase, the clause helps ensure that the final product aligns with the parties' needs and reduces the risk of costly errors or misunderstandings later in the project.
Prototype Plan. If the Plan is a Prototype Plan, the Plan does not permit an otherwise Eligible Employee or any Participant to elect to opt-out. However, if the Plan is a Nonstandardized Plan, an Eligible Employee may opt-out in accordance with Section 2.06(A) provided: (1) the Plan terms as in effect prior to restatement under this Plan permitted the opt-out; and (2) the Employee executes the opt-out prior to the date of the Employer's execution of this Plan as a Restated Plan.
Prototype Plan. The ▇▇▇▇▇▇▇ ▇▇▇▇▇ Prototype Defined Contribution Plan and Trust as set forth in this Base Plan Document, and its related Adoption Agreements, each as amended or restated from time to time.
Prototype Plan. The Plan will be recognized as a Prototype Plan by the Sponsor only by complying with the provisions of this Section 10.4.
Prototype Plan. “Prototype Plan” means the form of this Plan and Trust Agreement, as approved from time to time by the Internal Revenue Service.
Prototype Plan. Putn▇▇ ▇▇ the sponsor of the Putn▇▇ ▇▇▇ic Plan Document, a prototype plan approved as to form by the Internal Revenue Service. Provided that an Employer's adoption of the Plan is made known to and accepted by Putn▇▇ ▇▇ accordance with the Plan Agreement, Putn▇▇ ▇▇▇l inform the Employer of amendments to the prototype plan and provide such other services in connection with the Plan as may be agreed between Putn▇▇ ▇▇▇ the Employer. Putn▇▇ ▇▇▇ impose for its services as sponsor of the prototype plan such fees as it may establish from time to time in a fee schedule addressed to the Employer. Such fees shall, unless paid by the Employer, be paid from the Trust Fund, and shall in that case be charged pro rata against the Accounts of all Participants. The Trustee is expressly authorized to cause Investment Products to be sold or redeemed for the purpose of paying such fees. 15.6. -89- 149
Prototype Plan. Putn▇▇ ▇▇ the sponsor of the Putn▇▇ ▇▇▇ic Plan Document, a prototype plan approved as to form by the Internal Revenue Service. Provided that an Employer's adoption of the Plan is made known to and accepted by Putn▇▇ ▇▇ accordance with the Plan Agreement, Putn▇▇ ▇▇▇l inform the Employer of amendments to the prototype plan and
Prototype Plan. ▇▇▇▇▇▇ is the sponsor of the ▇▇▇▇▇▇ Basic Plan Document, a prototype plan approved as to form by the Internal Revenue Service. Provided that an Employer's adoption of the Plan is made known to and accepted by ▇▇▇▇▇▇ in accordance with the Plan Agreement, ▇▇▇▇▇▇ will inform the Employer of amendments to the prototype plan and provide such other services in connection with the Plan as may be agreed between ▇▇▇▇▇▇ and the Employer. ▇▇▇▇▇▇ may impose for its services as sponsor of the prototype plan such fees as it may establish from time to time in a fee schedule addressed to the Employer. Such fees shall, unless paid by the Employer, be paid from the Trust Fund, and shall in that case be charged pro rata against the Accounts of all Participants. The Trustee is expressly authorized to cause Investment Products to be sold or redeemed for the purpose of paying such fees.
Prototype Plan. Putnam is the sponsor of the Putnam Basic Plan Document, a prototype p▇▇▇ ▇▇proved as to form by th▇ ▇▇▇▇rnal Revenue Service. Provided that an Employer's adoption of the Plan is made known to and accepted by Putnam in accordance with the Plan Agreement, Putnam will inform the E▇▇▇▇▇▇r of amendments to the prototype plan an▇ ▇▇▇▇ide such other services in connection with the Plan as may be agreed between Putnam and the Employer. Putnam may impose for its services as sponsor ▇▇ ▇▇e prototype plan su▇▇ ▇▇▇s as it may establish from time to time in a fee schedule addressed to the Employer. Such fees shall, unless paid by the Employer, be paid from the Trust Fund, and shall in that case be charged pro rata against the Accounts of all Participants. The Trustee is expressly authorized to cause Investment Products to be sold or redeemed for the purpose of paying such fees.