Common use of Allocation of Contributions and Forfeitures Clause in Contracts

Allocation of Contributions and Forfeitures. The Committee, as of the Anniversary Date of each Plan Year, shall allocate each Employer contribution and forfeitures if any to the Account of each Participant of the Employer in the same proportion that each such Participant's Compensation for the Plan Year bears to the Compensation of all Participants of the Employer for the Plan Year. A Participant who remains in the employ of the Employer after attaining the Normal Retirement Date shall continue to participate in Employer contributions. Forfeitures shall be allocated in the Plan Year in which the forfeiture occurs. If more than one entity maintains the Plan, the Committee shall allocate all Employer contributions and forfeitures to each Participant in the Plan in accordance with this Article, without regard to which contributing Employer employs the Participant. A Participant's Compensation includes Compensation from all participating Employers, irrespective of which Employers are contributing to the Plan. A Participant shall share in the allocation of any Employer contribution and forfeitures only if he or she has completed 1,000 Hours of Service during such Plan Year. In addition, a Participant must be an Employee of the Employer on the last day of the Plan Year in order to share in the contribution for such Plan Year. However, a Participant shall share in Employer contributions and forfeitures for the Plan Year in which the Participant retires, dies, or becomes Disabled, regardless of the Hours of Service the Participant completes during the Plan Year and regardless of whether he or she is an Employee of the Employer on the last day of the Plan Year.

Allocation of Contributions and Forfeitures. The Committee, as of the Anniversary Date of each Plan Year, shall allocate each Employer contribution and forfeitures if any to the Account of each Participant of the Employer in the same proportion that each such Participant's Compensation for the Plan Year bears to the Compensation of all Participants of the Employer for the Plan Year. A Participant who remains in the employ of the Employer after attaining the Normal Retirement Date shall continue to participate in Employer contributions. Forfeitures shall be allocated in the Plan Year in which the forfeiture occurs. If more than one entity maintains the Plan, the Committee shall allocate all Employer contributions and forfeitures to each Participant in the Plan in accordance with this Article, without regard to which contributing Employer employs the Participant. A Participant's Compensation includes Compensation from all participating Employers, irrespective of which Employers are contributing to the Plan. A Participant shall share in the allocation of any Employer contribution and forfeitures only if he or she has completed 1,000 Hours of Service during such Plan Year. In addition, a Participant must be an Employee of the Employer on the last day of the Plan Year in order to share in the contribution for such Plan Year. However, a Participant shall share in Employer contributions and forfeitures for the Plan Year in which the Participant retires, dies, or becomes Disabled, regardless of the Hours of Service the Participant completes during the Plan Year and regardless of whether he or she is an Employee of the Employer on the last day of the Plan Year. The Participant must complete 1,000 Hours of Service in the Plan Year in which the Participant retires, dies or becomes Disabled to share in the allocation.