Contribution Amounts definition
Examples of Contribution Amounts in a sentence
Other than as provided in the forgoing sentence, it is intended that the below chart provides benchmark contribution amounts based on the percentage of BPP goals achieved, and that any increase in percentage of BPP achieved will correlate to a pro rata increase in Annual Contribution Amounts to the ALB.
Annual Contribution Amounts shall be reflected in the ALB within thirty (30) days of the end of any given Service Period.
The ALB shall reflect Annual Contribution Amounts made to the ALB each Service Period based on the satisfaction of performance criteria established in the Bank Performance Plan (as defined in Paragraph 1.7 below).
Type of Contribution Withdrawn Qualified Withdrawal Not a Qualified Withdrawal (the requirements for a qualified withdrawal are outlined under the section “Withdrawals”) Exception to 10% tax applies (exceptions are listed under the section “Withdrawals”) Exception to 10% tax does not apply Annual Contribution Amounts No income or penalty tax on withdrawal Amounts Converted from Another Form of IRA No income or penalty tax on withdrawal No income or penalty tax on withdrawal.
No Annual Contribution Amount will be made if the Bank does not achieve a minimum of seventy-five percent (75%) of goals as defined in the BPP, and there will be no incremental or pro rata increase in Annual Contribution Amounts for achievement of over one hundred and twenty-five percent (125%) of the goals defined in the BPP.