Profit Sharing Plan definition

Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.
Profit Sharing Plan means any such program or arrangement as qualifies hereunder which provides for the dis- tribution by the employer to his em- ployees of their respective shares of profits;
Profit Sharing Plan means the features of the Plan pursuant to which all contributions, other than Employer Pension Contributions, are made to the Plan, including any contributions pursuant to the cash or deferred arrangement (Section 401(k)) described in Article V hereof. Such features apply only to the extent elected in items 6 and/or 8 of the Adoption Agreement (Profit Sharing Plan).

Examples of Profit Sharing Plan in a sentence

  • Respondents are subject to disciplinary action under Code section 5100(c) in that 28 Respondents committed repeated acts of negligence on more than one occasion in performing the Accusation audit of the Pacific Alliance Medical Center Safe Harbor 401(k) Profit Sharing Plan for the year N ended December 31, 2007 that departed from professional standards for the reasons set forth in paragraphs 46 and 47.

  • Notwithstanding the foregoing, for purposes of determining a Participant’s nonforfeitable portion of his ESOP Accounts, including his Stock Forfeiture Account and Cash Forfeiture Account, if any, he will be credited with the number of Years of Service, if any, accrued prior to the Effective Date under the Profit Sharing Plan.

  • Respondents failed to exercise due professional care, in violation of AU 150.02 and 22 AU 230.02, in that, as reflected in Respondents' performance and reporting failures for the audit of 23 the Pacific Alliance Medical Center Safe Harbor 401(k) Profit Sharing Plan for the year ended 24 December 31, 2007, Respondents failed to exercise due professional care.

  • In each Plan Year that amounts are transferred to the ESOP from the Profit Sharing Plan, such amounts will be allocated to the Profit Sharing Account of each ESOP Participant from whose accounts in the Profit Sharing Plan amounts are transferred, in the exact amount transferred from such Participant’s Profit Sharing Plan accounts.

  • RETIREMENT PLANSThe Company sponsors a group Registered Retirement Savings Plan (“RRSP”) and a group Deferred Profit Sharing Plan (“DPSP”) for all of its Canadian salaried employees.


More Definitions of Profit Sharing Plan

Profit Sharing Plan means the NACCO Materials Handling Group, Inc. Profit Sharing Retirement Plan or any successor thereto.
Profit Sharing Plan means the Profit Sharing Plan of Quest Diagnostics Incorporated, as amended from time to time.
Profit Sharing Plan means the W.W. Grainger, Inc. Employees Profit Sharing Plan as amended from time to time.
Profit Sharing Plan means the Stillwater National Bank and Trust Company Profit Sharing Plan and Trust, as amended, or any successor plan thereto.
Profit Sharing Plan means the Company's Salaried Associate Retirement Profit Sharing Plan or any successor plan thereto
Profit Sharing Plan means the Employees’ Profit Sharing Plan of Roanoke Electric Steel Corporation, originally effective November 1, 1963, and as subsequently amended, or any successor plan thereto.