Common use of Integrated Clause in Contracts

Integrated. If this Plan is adopted as a Profit Sharing Plan and the integrated allocation formula is specified in the Adoption Agreement, the Forfeitures and the Employer Contribution shall be allocated (and posted) as of the last day of each Plan Year to the Employer Account of each Active Participant in accordance with the following: (i) Step One - First, the lesser of (A) the sum of the Employer Contribution and Forfeitures for such Plan Year or (B) the Integration Amount for such Plan Year shall be allocated to the Employer Account of each Active Participant in the same ratio that the sum of the total Compensation and Excess Compensation of each Active Participant for such Plan Year bears to the sum of the total Compensation and Excess Compensation of all Active Participants for such Plan Year. (ii) Step Two - Second, the remaining Employer Contribution and the Forfeitures, it any, for such Plan Year shall be allocated to the Employer Account of each Active Participant (whether or not he or she had Excess Compensation) in the same ratio that each Active Participant's total Compensation for such Plan Year bears to the total Compensation of all Active Participants for such Plan Year.