Allocations to Accounts. 13 Section 7. Statutory Limitations on Allocations 14 Section 8. Vesting and Forfeitures 21 Section 9. Account Distribution - General Rules 22 Section 10. Benefit Payment Forms - Joint and Survivor Annuity Requirements 24 Section 11. Minimum Distribution Requirements 27 Section 12. Top-Heavy Plan Rules 29 Section 13. Insurance, Individually Directed Investments and Participant Loans 31 Section 14. Adoption, Amendment, Withdrawal & Conversion, Merger, Asset Transfers and Termination 33 Section 15. Administration 35 Section 16. Miscellaneous 35 Appendix One to the Xxxxx Xxxxxx Prototype Defined Contribution Plan 36 XXXXX XXXXXX DEFINED CONTRIBUTION PLAN DOCUMENT #05
Allocations to Accounts. 12 5.5. Allocation Corrections.........................................................................12 5.6. Transition Period to Implement Plan Changes....................................................12 5.7. Special Rules Concerning Investment in Lodgian Stock Fund......................................13 (a) Dividends.............................................................................13 (b) Purchase of Lodgian Stock.............................................................13 (c) Voting of Lodgian Stock...............................................................13 (d) Restrictions..........................................................................13 ss. 6. LIMITATIONS ON CONTRIBUTIONS AND ALLOCATIONS..............................................................14 6.1. Ordering Rule..................................................................................14 6.2. Code ss. 415 Limitations.......................................................................14 (a) General...............................................................................14 (b) Annual Additions......................................................................14 (c) Coordination Rules....................................................................15 (d) Corrections...........................................................................15 6.3. Code ss. 402(g) Limitations....................................................................15 (a) This Plan and Other Affiliate Plans...................................................15 (b) Other Plans or Arrangements...........................................................15 (c) Action to Satisfy 402(g) Limitation...................................................16
Allocations to Accounts. Subject to the limitations in ss. 6, all Accounts will be adjusted as of each Valuation Date for contributions, distributions, withdrawals and investment earnings or losses since the last Valuation Date in accordance with nondiscriminatory procedures for adjusting Account balances. Each Account will share in the investment earnings or losses for each investment fund based on the portion of the Account invested in that fund.
Allocations to Accounts. 4.1 Participant's Account 14 4.2 Allocation of Contributions and Forfeitures 14 4.3 Allocation of Minimum Contribution 14 4.4 Limitations on Allocations to Participants' Accounts 14 4.5 Code 415 Definitions 16 4.6 Allocation of Earnings, Losses and Changes in Fair Market Value of the Net Assets of the Trust Fund 19 4.7 Accounting 19 4.8 Methods of Valuation 19 4.9 Stock Dividends, Splits, Rights, Warrants, Options and Other Reorganizations 20 ARTICLE 5 VESTING OF PARTICIPANT'S ACCOUNT
Allocations to Accounts. As of any dividend payment date with respect to dividends on Stock allocated to a Participant’s account which are used to pay principal or interest on an ESOP Loan, there shall be allocated to such account, from among shares released from the suspense account, Stock having a fair market value equal to the amount of such dividends less any contribution previously made to restore such dividends or any portion thereof. If the fair market value of shares released from the suspense account is insufficient to make the allocations described in the preceding sentence, the Participating Employers shall make a special contribution, to be invested in Stock, sufficient to restore Participant accounts as described in the preceding sentence. As of the last business day of each Plan Year, Stock (other than Stock allocated in accordance with the preceding provisions of this Section) released from the suspense account for such Year as a result of contributions made by Participating Employers or the application of cash dividends with respect to Stock held in the Trust, plus any additional contributions by such Participating Employers for such Year (adjusted for income, expenses, gain or loss), will be allocated among and credited to the accounts of the qualified individuals in proportion to their respective amounts of Compensation for such Plan Year. Stock shall be allocated in units of shares and fractional shares. For purposes of this Section 7.5, an individual is a qualified individual if he or she is a Participant on the last business day of such Plan Year or if he or she ceased to be a Participant during such Plan Year because of retirement under Article 8 or because of death. In addition, as of the last business day of each Plan Year forfeitures, if any, which occurred during such Year under Section 8.6 shall be allocated among and credited to the accounts of those individuals (whether or not Participants or qualified individuals) (“eligible account holders”) who for such Year (A) received amounts treated as compensation taken into account for purposes of Section 7.6 below) but (B) were not treated as “highly compensated employees” for purposes of Section 414(q) of the Code. Subject to the limitations of Section 7.6 below, allocations of forfeitures pursuant to the preceding sentence shall be made in units of shares and fractional shares in proportion to the relative account balances of the eligible account holders for the Plan Year, determined before allocating there...
Allocations to Accounts. The Accounts of Participants, Former Participants and Beneficiaries shall be adjusted in accordance with the following:
Allocations to Accounts. As of the last business day of each Plan Year, there shall be allocated among and credited to the ESOP Accounts of the qualified individuals, in proportion to their respective amounts of Compensation for the Plan Year (i) the Stock and, if applicable, Class B Stock and/or other assets released from the Leveraged Stock suspense account for the Year as a result of contributions made by Participating Employers under Section 6.1(a), (ii) additional contributions by the Participating Employers for the Plan Year under Section 6.1(b) and (iii) the forfeitures, if any, which occurred during such Plan Year and remain after the applications under Section 8.5. For purposes of this Section 7.7, an individual is a qualified individual for a Plan Year if he or she is either a Participant on the last business day of such Plan Year or separated from service while a Participant during the Plan Year on account of Retirement, death or Total and Permanent Disability.
Allocations to Accounts. 16 5.1 Participant Accounts 16 5.2 Allocation of Contributions 16 5.3 Suspension of Allocation Requirements 16 5.4 Allocation of Stock Dividends, Splits, Rights 17 5.5 Allocation of Gains and Losses 17 5.6 Valuation of Trust 17 5.7 Annual Additions Limit 18 ARTICLE 6. DISTRIBUTION OF BENEFITS 19 6.1 Amount of Distribution 19 6.2 Form of Distribution 19 6.3 Timing of Distribution 19 6.4 In-Service Distributions 20 6.5 Diversification Distribution 20 6.6 Minimum Distributions to Participants 21 6.7 Special Rules for Distributions Upon Death of Participant 23 6.8 Qualified Domestic Relations Orders 26 6.9 Direct Rollovers 26 ARTICLE 7. EMPLOYER STOCK 28 7.1 Investment of Accounts 28 7.2 Securities Transactions 28 7.3 Reserve Fund; Segregated Accounts 28 7.4 Rights, Options, and Restrictions on Stock………………………………………………………… 29 7.5 Voting and Other Rights…………………………………………………………………………….. 30 Sxxxx’x Liquid Gold-Inc. Employee Stock Ownership Plan 1/2012 ii Prepared by Holland & Hxxx LLP
Allocations to Accounts. 39 6.1 Establishment and Maintenance of Accounts.................. 39 6.2
Allocations to Accounts. As of any dividend payment date with respect to dividends on Stock allocated to a Participant’s account which are used to pay principal or interest on an ESOP Loan, there shall be allocated to such account, from among shares released from the suspense account, Stock having a fair market value equal to the amount of such dividends less any contribution previously made to restore such dividends or any portion thereof. If the fair market value of shares released from the suspense account is insufficient to make the allocations described in the preceding sentence, the Participating Employers shall make a special contribution, to be invested in Stock, sufficient to restore Participant accounts as described in the preceding sentence. As of the last business day of each Plan Year, Stock (other than Stock allocated in accordance with the preceding provisions of this Section) released from the suspense account for such Plan Year as a result of contributions made by Participating Employers or the application of dividends with respect to Stock held in the Trust will be allocated among and credited to the accounts of the qualified individuals in proportion to their respective amounts of Compensation for such Plan Year, as further described in Section 6.4 of the Plan.
