Each year, the Board of Directors of A&B determines the profit sharing contribution amount to be made to the PSR Plan, if any. The amount is based on the profitability of the Company's operations. It is therefore possible that no profit sharing contribution will be made in a given year.
Profit sharing contributions made to the PSR Plan may not...
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Exceed 25% of the taxable compensation paid to plan participants during the Plan Year;
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Exceed 10% of the Company's pre-tax earnings for the Plan Year; and
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Be made unless the Company's net income for the year, less the amount of the PSR contribution, is equal to at least 6% of shareholder equity in the Company as of the first day of the year.
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PSR Allocations
Your PSR Account will be credited each year with a share of the PSR Plan contribution made by the Company for that year, provided you are an eligible plan participant in that year. To be eligible for the PSR contribution, you must...
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Complete at least 1,000 hours of service during the calendar year for which the PSR contribution is being made and remain an eligible employee on the last day of such calendar year
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End your employment that year by reason of:
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Incur a total disability* during that year.
In addition, if you are absent due to service in the uniformed services of the U.S., and you return to work for the Company while your re-employment rights are protected by law, the Company will credit your PSR Account with allocations to which you would have been previously entitled but for your absence.*
How Your Share Is Calculated
Your PSR contribution share is an amount proportionate to your base salary* as compared to the total base salary of all eligible participants in the year. Since PSR contributions are made based on the affiliated company for which you work, the total base salary figure is the total of all salaries paid within your affiliated company.
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