Common use of Basic Contributions Clause in Contracts

Basic Contributions. If the employer, at the time of contribution, designates a contribution to be a basic contribution for the Plan Year, the Administrative committee will allocate that basic contribution to the Basic Contributions Account of each Participant eligible for all allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Administrative Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Administrative Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

Basic Contributions. If the employerEmployer, at the time of contribution, designates a contribution to be a basic contribution for the Plan Year, the Administrative committee Committee will allocate that basic contribution to the Basic Contributions Account of each Participant eligible for all an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Administrative Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Administrative Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.