Common use of CASH OR DEFERRED ARRANGEMENT Clause in Contracts

CASH OR DEFERRED ARRANGEMENT. Each Employee except the following shall be eligible to participate in the 401(k) Cash or Deferred Arrangement, any Matching Contributions, any Qualified Matching Contributions or any Qualified Non-elective Contributions which the Employer may make to the Plan in accordance with Section 5 above. (Eligibility for participation in any Discretionary Profit Sharing Contributions shall be determined in Section 6.2 below). a. Employees who have not attained the age of _____ (cannot exceed 21). b. Employees who have not completed Year of Service (cannot exceed 1 year). If the Year of Service selected is or includes a fractional year, an Employee will not be required to complete any specified Hours of Service to receive credit for such fractional year. c. Employees included in a unit of Employees covered by a collective bargaining agreement between the Employer and Employee Representatives, if retirement benefits were the subject of good faith bargaining SHALL NOT be eligible to participate. For this purpose, the term "Employee Representatives" does not include any organization more than half of whose members are employees who are owners, officers, or executives of the Employer. d. Employees who are nonresident aliens (within the meaning of Code Section 7701(1)(B)) and who received no earned income (within the meaning of Code Section 911(d)(2)) from the Employer which constitutes income from sources within the United States (within the meaning of Code Section 861(a)(3)). e. The age and service requirement for eligibility to participate shall be waived for individuals employed on the Effective Date of this Adoption Agreement.

CASH OR DEFERRED ARRANGEMENT. Each Employee except the following shall be eligible to participate in the 401(k) Cash or Deferred Arrangement, any Matching Contributions, any Qualified Matching Contributions or any Qualified Non-elective Contributions which the Employer may make to the Plan in accordance with Section 5 above. (Eligibility for participation in any Discretionary Profit Sharing Contributions shall be determined in Section 6.2 below). a. Employees who have not attained the age of _____ (cannot exceed 21). b. Employees who have not completed Year of Service (cannot exceed 1 year). If the Year of Service selected is or includes a fractional year, an Employee will not be required to complete any specified Hours of Service to receive credit for such fractional year. c. Employees included in a unit of Employees covered by a collective bargaining agreement between the Employer and Employee Representatives, if retirement benefits were the subject of good faith bargaining SHALL NOT be eligible to participate. For this purpose, the term "Employee Representatives" does not include any organization more than half of whose members are employees who are owners, officers, or executives of the Employer. d. Employees who are nonresident aliens (within the meaning of Code Section section 7701(1)(B)) and who received no earned income (within the meaning of Code Section section 911(d)(2)) from the Employer which constitutes income from sources within the United States (within the meaning of Code Section section 861(a)(3)). e. The age and service requirement for eligibility to participate shall be waived for individuals employed on Employees included in the Effective Date of this Adoption Agreement.following job classifications: e.1. / / Hourly Employees e.2 / / Salaried Employees e.3 / / commissioned Sales Employees