Reduction of contributions Sample Clauses

Reduction of contributions. The Employer may elect in AA §8-6 to use forfeitures to reduce Employer Contributions and/or Matching Contributions under the Plan. If the Employer elects to use forfeitures to reduce contributions, the Employer may, in its discretion, use such forfeitures to reduce Employer Contributions, Matching Contributions, or both. The Employer may adjust its contribution deposits in any manner, provided the total Employer Contributions made for the Plan Year properly take into account the forfeitures that are to be used to reduce such contributions for that Plan Year. If contributions are allocated over multiple allocation periods, the Employer may reduce its contribution for any allocation periods within the Plan Year in which the forfeitures are to be allocated so that the total amount allocated for the Plan Year is proper.

Reduction of contributions. The Employer may elect in AA §8-7 to use forfeitures to reduce Employer Contributions and/or Matching Contributions under the Plan. If the Employer elects to use forfeitures to reduce contributions, the Employer may, in its discretion, use such forfeitures to reduce Employer Contributions, Matching Contributions, or both. The Employer may adjust its contribution deposits in any manner, provided the total Employer Contributions and/or Matching Contributions made for the Plan Year properly take into account the forfeitures that are to be used to reduce such contributions for that Plan Year. If contributions are allocated over multiple allocation periods, the Employer may reduce its contribution for any allocation periods within the Plan Year in which the forfeitures are to be allocated so that the total amount allocated for the Plan Year is proper. If the Plan provides for a discretionary Employer or Matching Contribution and the Employer elects not to make an Employer or Matching Contribution for the Plan Year, any forfeitures will be allocated to eligible Participants as an additional Employer or Matching Contribution, as provided under subsection (a) above.

Reduction of contributions. In the event that a Participant's Annual Addition for any Plan year would otherwise exceed the limitations imposed by the provisions of subsection 7.1, the amount of the contributions which would otherwise be credited to his Account for that year shall be reduced to the extent necessary to comply with such limitations. Such reduction shall be made in the following order: After-Tax Contributions, Employer Matched Contributions, Pre-Tax Contributions, Supplemental Employer Contributions. Amounts attributable to After-Tax Contributions which are not to be credited to a Participant's After-Tax Contribution Account because of the provisions of this subsection shall be returned to the Participant as soon as practicable. Amounts attributable to Employer Contributions which are not to be credited to a Participant's Account because of the provisions of this subsection shall be credited to an Excess Account maintained in the Participant's name. Amounts credited to a Participant's Excess Account shall be credited to the Participant's Account in the following Plan Year or Plan Years, to the extent permitted by the foregoing provisions of this Section 7 and shall be used to reduce Employer Contributions otherwise required for such Plan Years with respect to such Participant. If any amount remains in a Participant's Excess Account after the Plan Year in which such Participant ceases to participate in the Plan, such amount shall be used to reduce Employer Contributions in the following Plan Year or Plan Years. In no event will the sum of the value of all amounts credited to all Excess Accounts for any Plan Year (determined as of the date such amounts are credited) exceed the sum of the Forfeitures which arose under the Plan during the year and the amount contributed for that year as a result of estimating the Section 415 Compensation of Participants or as a result of such other circumstances as the Commissioner of Internal Revenue may permit. In addition, if a Participant also participates in any defined benefit plans (as defined in section 415(k) of the Code) maintained by an Employer or any entity that would be a Related Company if the ownership test of section 414 of the Code were "more than 50%" rather than "at least 80%", the aggregate benefits payable to, or on account of, the Participant under such plans together with this Plan shall be determined in a manner consistent with section 415(e) of the Code. The benefit provided for the Participant under the defined ben...