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HBI » Topics » 5.09 Limitations on Employer Contributions

This excerpt taken from the HBI 8-K filed Sep 5, 2006.

5.09 Limitations on Employer Contributions

The Employers’ total contribution for a Plan Year is conditioned on its deductibility under Section 404 of the Code in that year, and shall comply with the contribution limitations set forth in Subsection 6.05 and the allocation limitations contained in Subsections 6.01 and 5.05 of the Plan, and shall not exceed an amount equal to the maximum amount deductible on account thereof by the Employers for that year for purposes of federal taxes on income.

 

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