Common use of Participating Employer Clause in Contracts

Participating Employer. The term Participating Employer means any entity which is part of a controlled group or affiliated service group, as those terms are defined in Code Sections 414(b), (c) and (m),or is otherwise required to be aggregated under Code Section 414(o) that adopts this Plan with the consent of the Employer. An Employee’s transfer to or from any Employer or Participating Employer will not affect his or her Participant’s Account Balance, total Years of Service (Periods of Service) and total Years of Service as a Participant (Periods of Service as a Participant). A Participating Employer shall be subject to the following provisions: (a) Whenever a right or obligation is imposed upon the Employer by the terms of the Plan, the same shall extend to the Participating Employer as the “Employer” under the Plan and shall be separate and distinct from that imposed upon the Employer. It is the intention of the parties that the Participating Employer shall be a party to the Plan and treated in all respects as the Employer thereunder, with its employees to be considered as the Employees or Participants as the case may be, thereunder. However, the participation of the Participating Employer in the Plan shall in no way diminish, augment, modify or in any way affect the rights and duties of the Employer, its Employees and Participants under the Plan. (b) The Trustee(s) and/or Custodian(s) agree to receive and allocate contributions made to the Plan by the Employer and by the Participating Employer, as well as to do and perform all acts that are necessary to keep records and accounts of all funds held for Participants who are employees. (c) The Participating Employer shall be construed as having adopted the Plan in every respect as if said Plan had this date been executed between the Participating Employer and the Trustee and/or Custodian, except as otherwise expressly provided herein or in any amendment that may subsequently be adopted hereto. (d) All actions required by the Plan to be taken by the Employer shall be effective with respect to the Participating Employer. The Participating Employer hereby irrevocably designates the Employer as its agent for such purposes. (e) Contributions made by any such Participating Employer will be held in a common Trust Fund with contributions made by the Employer, and contributions shall be available to pay the benefits of a Participant or Beneficiary who is an Employee of the Plan Sponsor or any such Participating Employer.

Participating Employer. The term A Participating Employer means any entity which is part of may adopt the Plan and become a controlled group or affiliated service group, as those terms are defined in Code Sections 414(b), (c) and (m),or is otherwise required to be aggregated under Code Section 414(o) that adopts party hereto by executing this Plan and Trust Agreement or by entering a separate participation agreement with the consent of the EmployerPlan Sponsor and Trustee. An Employee’s 's transfer to or from any Employer or Participating Employer will not affect his or her Participant’s Account Balanceaccount balance, total Years of Service (or Periods of Service) and total Years of Service as a Participant (Periods of Service as a Participant). A Participating Employer shall be subject to the following provisions: (a) Whenever a right or obligation is imposed upon the Employer by the terms of the Plan, the same shall extend to the Participating Employer as the “"Employer” " under the Plan and shall be separate and distinct from that imposed upon the Employer. It is the intention of the parties that the Participating Employer shall be a party to the Plan and treated in all respects as the Employer thereunder, with its employees to be considered as the Employees or Participants as the case may be, thereunder. However, the participation of the Participating Employer in the Plan shall in no way diminish, augment, modify or in any way affect the rights and duties of the Employer, its Employees and Participants under the Plan. (b) The Trustee(s) and/or Custodian(s) agree Trustee agrees to receive and allocate contributions made to the Plan by the Employer and by the Participating Employer, as well as to do and perform all acts that are necessary to keep records and accounts of all funds held for Participants who are employeesParticipants. (c) The Participating Employer shall be construed as having adopted the Plan in every respect as if said Plan had this date been executed between the Participating Employer and the Trustee and/or CustodianTrustee, except as otherwise expressly provided herein or in any amendment that may subsequently be adopted hereto. (d) All actions required by the Plan to be taken by the Employer shall be effective with respect to the Participating Employer. The By the execution of this Plan and Trust Agreement or a separate participation agreement, the Participating Employer hereby irrevocably designates the Employer as its agent for such purposes. (e) Contributions made by any such Participating Employer will be held in a common Trust Fund with contributions made by the Employer, and contributions shall be available to pay the benefits of a Participant or Beneficiary who is an Employee of the Plan Sponsor or any such Participating Employer.

Participating Employer. The term Participating Employer means any entity which is part of a controlled group or affiliated service group, as those terms are defined in Code Sections 414(b), (c) and (m),or m), or is otherwise required to be aggregated under Code Section 414(o) that adopts this Plan with the consent of the Employer. An Employee’s transfer to or from any Employer or Participating Employer will not affect his or her Participant’s Account Balance, total Years of Service (Periods of Service) and total Years of Service as a Participant (Periods of Service as a Participant). The Plan may be adopted as a Multiple Employer Plan, that is, to be adopted as a non-collectively bargained single plan benefiting the Employees of two (2) or more Employers who are not treated as a single Employer under Code Section 414(b), (c), (m), or (o). Such unaffiliated corporation or other business entity may participate herein, and be known as an Participating Employer, by properly executing the Joinder Agreement evidencing said intent and will of such corporation or business entity to participate. In this case, the Sponsoring Employer and each Participating Employer acknowledge that the Plan is a Multiple Employer Plan subject to the rules of Code Section 413(c) and the Regulations thereunder which are herein incorporated by reference, specific annual reporting requirements, and different procedures for obtaining determination letters from the IRS regarding the qualified status of the Plan. For purposes of Plan participation and vesting, the Sponsoring Employer and all Participating Employers shall be considered a single Employer. An Employee’s Service includes all Service with the Sponsoring Employer or any Participating Employer [or with any Employer aggregated with the Sponsor or Participating Employer under Code Section 414(b), (c), (m) or (o)]. An Employee who terminates Service with a Participating Employer but then resumes Service with another Participating Employer shall not be considered to have severed employment. Except to the extent that the Joinder Agreement allows, and the Participating Employer makes, separate elections with respect to its Employees, the Participating Employer shall be bound by the terms of the Plan and Trust, including amendments thereto and any elections made by the Sponsoring Employer. The limitation under the Plan relating to the requirements of Code Sections 415, 402(g) and 414(v) shall be applied to the Plan as a whole. The requirements of Code Sections 410(b), 401(a)(4), 401(k)(3)(A)(ii), 401(m)(2)(A), 414(q) and 416 shall be applied separately to each Participating Employer. For purposes of determining a Participant’s Required Beginning Date for minimum required distributions, a Participant shall be considered a 5% owner in a year in which the Participant is both a 5% owner and an Employee of a Participating Employer. Unless the context of the Plan clearly indicates the contrary, the word “Employer” shall be deemed to include each Employer participating in this Plan and Trust, as related to its adoption of the Plan and Trust. A Participating Employer shall be subject to the following provisions: (a) Each Participating Employer, who is not a member of a controlled group of corporations or an affiliated service group of which the Employer is a member, shall execute a Joinder Agreement as evidence of their participation in the Plan. (b) Whenever a right or obligation is imposed upon the Employer by the terms of the Plan, the same shall extend to the Participating Employer as the “Employer” under the Plan and shall be separate and distinct from that imposed upon the Employer. It is the intention of the parties that the Participating Employer shall be a party to the Plan and treated in all respects as the Employer thereunder, with its employees to be considered as the Employees or Participants as the case may be, thereunder. However, the participation of the Participating Employer in the Plan shall in no way diminish, augment, modify or in any way affect the rights and duties of the Employer, its Employees and Participants under the Plan. (bc) Each Participating Employer shall use the same Trustee and/or Custodian as selected by the Sponsoring Employer. The Trustee(s) and/or Custodian(s) agree to receive and allocate contributions made to the Plan by the Employer and by the Participating Employer. The Trustee may, but shall not be required to, commingle, hold and invest as one Trust Fund all contributions made by the Participating Employers, as well as to do and perform all acts that are necessary to keep records and accounts of all funds held for Participants who are employeesincrements thereof. (cd) The Participating Employer shall be construed as having adopted the Plan in every respect as if said Plan had this date been executed between the Participating Employer and the Trustee and/or Custodian, except as otherwise expressly provided herein or in any amendment that may subsequently be adopted hereto. (de) All actions required by the Plan to be taken by the Employer shall be effective with respect to the Participating Employer. The Participating Employer hereby irrevocably designates the Employer as its agent for such purposes. Each Participating Employer shall be deemed to be a part of this Plan; provided, however, that with respect to all of its relations with the Trustee and the Plan Administrator for the purpose of this Plan, each Participating Employer shall be deemed to have irrevocably designated the Plan Sponsor as its agent. (ef) Contributions made by any such Participating Employer will be held in a common Trust Fund with contributions made by the Employer, and contributions shall be available to pay the benefits of a Participant or Beneficiary who is an Employee of the Plan Sponsor Sponsoring Employer or any such Participating Employer. (g) Any expenses of the Plan which are to be paid by the Employer or borne by the Trust Fund shall be paid by each Participating Employer in the same proportion that the initial amount standing to the credit of all Participants employed by such Employer bears to the total standing to the credit of all Participants Any Participating Employer or future Participating Employer or member of a controlled group that is not already a Participating Employer under this Plan may, with the consent of the Sponsoring Employer, adopt this Plan by executing a Participation Agreement as a Participating Employer for all or any classification of Employees in its employ. It is not necessary for any Participating Employer to formally execute the Adoption Agreement as then in effect. As to the Participating Employer, the effective date of its participation shall be stated in its Participation Agreement and it shall assume all the rights, obligations and liabilities of a Participating Employer under the Plan.

Participating Employer. The term Participating Employer means any entity which is part of a controlled group or affiliated service group, as those terms are defined in Code Sections 414(b), (c) and (m),or m), or is otherwise required to be aggregated under Code Section 414(o) that adopts this Plan with the consent of the Employer. An Employee’s transfer to or from any Employer or Participating Employer will not affect his or her Participant’s Account Balance, total Years of Service (Periods of Service) and total Years of Service as a Participant (Periods of Service as a Participant). The Plan may be adopted as a Multiple Employer Plan, that is, to be adopted as a non-collectively bargained single plan benefiting the Employees of two (2) or more Employers who are not treated as a single Employer under Code Section 414(b), (c), (m), or (o). Such unaffiliated corporation or other business entity may participate herein, and be known as a Participating Employer, by properly executing the Joinder Agreement evidencing said intent and will of such corporation or business entity to participate. In this case, the Sponsoring Employer and each Participating Employer acknowledge that the Plan is a Multiple Employer Plan subject to the rules of Code Section 413(c) and the Regulations thereunder which are herein incorporated by reference, specific annual reporting requirements, and different procedures for obtaining determination letters from the IRS regarding the qualified status of the Plan. For purposes of Plan participation and vesting, the Sponsoring Employer and all Participating Employers shall be considered a single Employer. An Employee’s Service includes all Service with the Sponsoring Employer or any Participating Employer [or with any Employer aggregated with the Sponsor or Participating Employer under Code Section 414(b), (c), (m) or (o)]. An Employee who terminates Service with a Participating Employer but then resumes Service with another Participating Employer shall not be considered to have severed employment. Except to the extent that the Joinder Agreement allows, and the Participating Employer makes, separate elections with respect to its Employees, the Participating Employer shall be bound by the terms of the Plan and Trust, including amendments thereto and any elections made by the Sponsoring Employer. The limitation under the Plan relating to the requirements of Code Sections 415, 402(g) and 414(v) shall be applied to the Plan as a whole. The requirements of Code Sections 410(b), 401(a)(4), 401(k)(3)(A)(ii), 401(m)(2)(A), 414(q) and 416 shall be applied separately to each Participating Employer. For purposes of determining a Participant’s Required Beginning Date for minimum required distributions, a Participant shall be considered a 5% owner in a year in which the Participant is both a 5% owner and an Employee of a Participating Employer. Unless the context of the Plan clearly indicates the contrary, the word “Employer” shall be deemed to include each Employer participating in this Plan and Trust, as related to its adoption of the Plan and Trust. A Participating Employer shall be subject to the following provisions: (a) Each Participating Employer, who is not a member of a controlled group of corporations or an affiliated service group of which the Employer is a member, shall execute a Joinder Agreement as evidence of their participation in the Plan. (b) Whenever a right or obligation is imposed upon the Employer by the terms of the Plan, the same shall extend to the Participating Employer as the “Employer” under the Plan and shall be separate and distinct from that imposed upon the Employer. It is the intention of the parties that the Participating Employer shall be a party to the Plan and treated in all respects as the Employer thereunder, with its employees to be considered as the Employees or Participants as the case may be, thereunder. However, the participation of the Participating Employer in the Plan shall in no way diminish, augment, modify or in any way affect the rights and duties of the Employer, its Employees and Participants under the Plan. (bc) Each Participating Employer shall use the same Trustee and/or Custodian as selected by the Sponsoring Employer. The Trustee(s) and/or Custodian(s) agree to receive and allocate contributions made to the Plan by the Employer and by the Participating Employer. The Trustee may, but shall not be required to, commingle, hold and invest as one Trust Fund all contributions made by the Participating Employers, as well as to do and perform all acts that are necessary to keep records and accounts of all funds held for Participants who are employeesincrements thereof. (cd) The Participating Employer shall be construed as having adopted the Plan in every respect as if said Plan had this date been executed between the Participating Employer and the Trustee and/or Custodian, except as otherwise expressly provided herein or in any amendment that may subsequently be adopted hereto. (de) All actions required by the Plan to be taken by the Employer shall be effective with respect to the Participating Employer. The Participating Employer hereby irrevocably designates the Employer as its agent for such purposes. Each Participating Employer shall be deemed to be a part of this Plan; provided, however, that with respect to all of its relations with the Trustee and the Plan Administrator for the purpose of this Plan, each Participating Employer shall be deemed to have irrevocably designated the Plan Sponsor as its agent. (ef) Contributions made by any such Participating Employer will be held in a common Trust Fund with contributions made by the Employer, and contributions shall be available to pay the benefits of a Participant or Beneficiary who is an Employee of the Plan Sponsor Sponsoring Employer or any such Participating Employer. (g) Any expenses of the Plan which are to be paid by the Employer or borne by the Trust Fund shall be paid by each Participating Employer in the same proportion that the initial amount standing to the credit of all Participants employed by such Employer bears to the total standing to the credit of all Participants Any Participating Employer or future Participating Employer or member of a controlled group that is not already a Participating Employer under this Plan may, with the consent of the Sponsoring Employer, adopt this Plan by executing a Participation Agreement as a Participating Employer for all or any classification of Employees in its employ. It is not necessary for any Participating Employer to formally execute the Adoption Agreement as then in effect. As to the Participating Employer, the effective date of its participation shall be stated in its Participation Agreement and it shall assume all the rights, obligations and liabilities of a Participating Employer under the Plan.