Common use of Allocation of Company Contributions Clause in Contracts

Allocation of Company Contributions. As soon as practicable after the end of each Plan Year for which a Company Contribution has been made to the Trust pursuant to Section 4.04, the Company shall deliver to the Committee a schedule showing the name of each Participant who (a) was an Employee of the Company on the last-day of such Plan Year and was credited with at least one thousand (1,000) Hours of Service during such Plan Year or (b) died, retired on or after Normal Retirement Age or became disabled (within the meaning of Section 7.03) during such Plan Year, and opposite the name of each such Participant the amount of Compensation paid to such Participant by the Company during such Plan Year. The schedule shall also contain such other information as the Committee may reasonably require for the proper administration of the Plan. Upon receiving such schedule and the total contribution, if any, made by the Company for such Plan Year, and after the account balances of the Participants have been adjusted as provided in Section 5.07, the Committee shall allocate a portion of the Company Contribution for the Plan Year to the Company Account of each Participant listed on such schedule on the following basis: (a) Each Participant shall receive one allocation unit for each $100 of Compensation for the Plan Year. No fractional allocation units shall be credited, and Compensation in amounts less than $100 shall be disregarded. For purposes of this subsection the Company may, at its sole discretion, place a cap on the amount of -33- 39 Compensation to be considered for each Plan Year, provided that such cap be no greater than the limitation imposed by Section 401(a)(17) of the Code. (b) Each Participant's Company Account shall be credited with a portion of the total Company Contribution to the Plan for such Plan Year which bears the same ratio to such total Company Contribution as the Participant's total allocation units for such Plan Year bear to the total allocation units of all eligible Participant for such Plan Year. Any amount which is in excess of the maximum set forth in Section 6.05 shall be reallocated among all other Participants in accordance with the above procedures. Any such amount which cannot be reallocated shall be reallocated in the following Plan Year.

Allocation of Company Contributions. As soon as practicable after the end of each Plan Year for which a Company Contribution has been made to the Trust pursuant to Section 4.04, the Company shall deliver to the Committee a schedule showing the name of each Participant who (a) was an Employee of the Company on the last-day of such Plan Year and was credited with at least one thousand (1,000) Hours of Service during such Plan Year or (b) died, retired on or after Normal Retirement Age or became disabled (within the meaning of Section 7.03) during such Plan Year, and opposite the name of each such Participant the amount of Compensation paid to such Participant by the Company during such Plan Year. The schedule shall also contain such other information as the Committee may reasonably require for the proper administration of the Plan. Upon receiving such schedule and the total contribution, if any, made by the Company for such Plan Year, and after the account balances of the Participants have been adjusted as provided in Section 5.07, the Committee shall allocate a portion of Anniversary Date the Company Contribution for the Plan Year to from each Company shall be allocated among the Company Account Participants Accounts of all Participants of each Participant listed on such schedule on the following basis: Company who are (a) Each Participant shall receive one allocation unit for each $100 of Compensation for the Plan Year. No fractional allocation units shall be credited, and Compensation in amounts less than $100 shall be disregarded. For purposes of this subsection Active Participants employed by the Company may, at its sole discretion, place a cap on the amount of -33- 39 Compensation to be considered for each Plan YearAnniversary Date, provided that such cap be no greater than the limitation imposed by Section 401(a)(17) of the Code. or (b) Each Participants whose employment terminated by reason of retirement on or after his Normal or Late Retirement Date, Total Disability or death. Such Company Contribution for each Company shall be allocated to each such Participant's Company Account shall be credited with account in the proportion that the Compensation paid to or accrued for each such Participant during the Plan Year (even if the Participant participated in the Plan for only a portion of the total Company Contribution to the Plan for such Plan Year which bears the same ratio to such total Company Contribution as the Participant's total allocation units for such Plan Year bear to the total allocation units of all eligible Participant for such Plan Year. Any amount which is ) in excess of the maximum set forth minimum wage bases subject to Social Security Tax as in Section 6.05 effect on the last day of the calendar year immediately preceding the Anniversary Date bears to the total Compensation so paid to or accrued for all such Participants; provided, however, that the Company Contribution so allocated for any Plan Year shall not exceed 4.168% multiplied by the total Compensation so paid. Any excess Company Contribution not so allocated shall be reallocated among all other Participants in accordance with the above procedures. Any such amount which cannot be reallocated shall be reallocated allocated in the following proportion that the Compensation paid to or accrued for each Participant during the Plan Year (even if the Participant participated in the Plan for only a portion of the Plan Year) bears to the total Compensation so paid to or accrued for all such Participants. Notwithstanding any provision of the Plan to the contrary, if the Plan is a Top-Heavy Plan, the Company Contribution must be allocated among the Participants' accounts so that each Participant receives an allocation of not less than three percent (3%) of such Participant's Compensation, except that such percentage shall not exceed the percentage at which contributions are made for the Key Employee for whom such percentage is the highest for the year. In the event a Participant participates or has participated in more than one qualified plan maintained by the Company, the sum of the defined benefit excess plan disparity fraction, the offset plan disparity fraction, defined contribution plan disparity fraction, and the imputed disparity fraction (as those terms are defined in I.R.C. section 401(l) and the regulations thereunder) may not exceed one (1) for the Plan Year with respect to any Employee.