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GWW » Topics » Profit Sharing Allocation

These excerpts taken from the GWW 10-K filed Feb 27, 2008.
Profit Sharing Allocation. For any Participant, the Annual Profit Sharing Allocation for a Plan Year will be limited to the amount that is the excess of (i) the amount, but for the Annual Deferral Amounts, that would have been allocable to such Participant’s profit sharing account under the Profit Sharing Plan for the Plan Year, and without regard to any limitations on such profit sharing contributions contained in the Code or in the Profit Sharing Plan in furtherance of such Code limitations, over (ii) the actual profit sharing contribution allocated to such Participant’s Profit Sharing Plan profit sharing account for the Plan Year; provided, however, that the amount determined by the application of clauses (i) and (ii) of this sentence shall be further reduced by the amount of any profit sharing contributions, if any, allocated for such Plan Year to the Participant’s account under the W.W. Grainger, Inc. Supplemental Profit Sharing Plan or a comparable supplemental profit sharing plan which covers Employees of an Affiliate.

Profit Sharing Allocation. For any Participant, the Annual Profit Sharing Allocation for a Plan Year will be limited to the amount that is the excess of (i) the amount, but for the Annual Deferral Amounts, that would have been allocable to such Participant’s profit sharing account under the Profit Sharing Plan for the Plan Year, and without regard to any limitations on such profit sharing contributions contained in the Code or in the Profit Sharing Plan in furtherance of such Code limitations, over (ii) the actual profit sharing contribution allocated to such Participant’s Profit Sharing Plan profit sharing account for the Plan Year; provided, however, that the amount determined by the application of clauses (i) and (ii) of this sentence shall be further reduced by the amount of any
profit sharing contributions, if any, allocated for such Plan Year to the Participant’s account under the W.W. Grainger, Inc. Supplemental Profit Sharing Plan or a comparable supplemental profit sharing plan which covers Employees of an Affiliate.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008

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