Employer Contribution Eligible Employee definition

Employer Contribution Eligible Employee means an Eligible Employee eligible to receive an Employer 2% Contribution under Section 3.03A of the Savings Plan. Employer Contribution Eligible Employees are eligible to receive allocations of employer 2% contributions in accordance with Section 3.3(b).
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Examples of Employer Contribution Eligible Employee in a sentence

  • A Participating Employer shall establish and maintain on its books an Employer Contribution Account for each Employer Contribution Eligible Employee.

  • Such Employer Contribution Account shall be designated by the name of the Employer Contribution Eligible Employee for whom it is established.

  • For each period that an Employer Contribution Eligible Employee has Compensation in excess of the annual limitation under Code Section 401(a)(17), the Participating Employer shall make a contribution to the Employer Contribution Eligible Employee’s Employer Contribution Account equal to 100% of the first 2% of the Employer Contribution Eligible Employee’s Compensation described in the preceding sentence.

  • Notwithstanding Subparagraph (A) or (B) above, if the Administrator determines, in his or her sole discretion, that the circumstances of and/or surrounding the Participant’s ceasing to be a Employer Contribution Eligible Employee constitute gross misconduct on the part of the Participant, the Administrator may, in his or her sole discretion, determine that the Participant’s Vesting Percentage applicable to the Benefit Amounts and the Employer Contributions and earnings thereon shall be zero percent (0%).

  • Amount B is the amount of employer 2% Non-Safe Harbor Non-Elective Contributions the Employer Contribution Eligible Employee actually received under the Savings Plan for the applicable period.

  • If the Participant’s Participation Date occurs on or before the Cycle Beginning Date of the Performance Cycle and the Participant is a Employer Contribution Eligible Employee on such Cycle Beginning Date, the product (rounded to two (2) decimal places) of (I) the Applicable Percentage and (II) the Participant’s Target Compensation.

  • Notwithstanding the foregoing sentence, the Administrator, in his or her sole discretion, may determine that an Employee shall become an Employer Contribution Eligible Employee under such circumstances as the Administrator, in his or her sole discretion, may deem appropriate so long as the Employee has an employment position that is listed in the records prepared and maintained by the Administrator.

  • An Employee eligible to participate in the Plan as a (a) Employer Contribution Eligible Employee or (b) a Deferred Compensation Eligible Employee.

  • A Employer Contribution Eligible Employee is an Employee who is (a) Vontier Corporation’s Chief Executive Officer; (b) an officer of the Plan Sponsor within the meaning of Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934; or (c) a United States FLSA exempt leadership employee who oversees a major function of an Employer or a United States FLSA exempt leadership employee of an operating company and is a direct report to Vontier Corporation’s Chief Executive Officer.

Related to Employer Contribution Eligible Employee

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Eligible employer means any municipality with a municipal

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Employer Contributions means all amounts paid into ASRS by an

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Plan Year means the calendar year.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Eligible Employees means each employee of the Company or an Affiliate.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.