AgdaPkt 2002-12-09 - Laserfiche WebLink

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W • � . �10 AR�ct.E II : , . .: .. CaNTRIBUTIONS • 2.1 Amount of Empleyer Contribntlons � There is hereby created and established and shall be maintained by the Plmi Administrator the Employer Contribution Account For each day that an Employee remains a Participant under �iis PIsa; the Employer shall make contributions in an amount equal to two percent (2%) of Compensation. 2.2 Amount of Employee Contributions There is hereby created and established and shall be maintained by the Plan Administrator the Employee Contribution Accoun� For each day that an Employee remains a Participant under this Plan, the Employee will make mandatory contributions to the Plan as follows: (a) An amount based on a percentage of his or her Compensation or a fixed dollar amount each pay peried. The amount of the Employee Contribution to the Plan under this section shall be determined exclusively by the Employer and prescribed in Schedule A. No Employee sha11 have the right to select his or her level of Employee Contributions. (b) An amount equal to a percentage of an Employee's unused In-Lieu Hours as of the last day in the last complPte pay period in the Calendaz Year multiplied by the Employee's Hourly Pay Rate. The percentage shall be determined exclusively by the Employer and prescribed Schedule A. No Employee shall have the nght to select his or her percentage of his or her In-Lieu Hours contributions. 2.3 Pick Up of Mandatory Contributions In accordance with Section 414(h) of the Code, the mandatory Employee contriburions required under Section 2.2 shall be picked up by the Employer. 2.4 Allocation of Contributions The contributions made for each Plan Year shall be allocated to the account of each Eligible Employee who was an Employee as specified in Section l.l. 3 NB1:538180.2