4 When can Limited Participants qualify for Employer Matching and Nonelective Contribution s? There may be occasional times when a Limited Participant works so many hours that it would be fair to credit Employer contrib utions. Foll owing each Plan Year, the Plan A dministrator will review the hours and service records of Limited Participants. For tho se who qualify, Employer Matching and Nonelective Contributions would be made af t er the Plan Y ear ends. To qualify for Employer contributions for a Plan Year, the Limited Participa nt must have satisfied ALL four of these conditions: : - completed one Year of Eligibility Service * on or before January 1 or July 1 of the Plan Year (a one - time requirement), and - credited with at least 1,000 hours in the Plan Year, and - employed on December 31 of the Plan Year , and - at least age 21 before a January 1 or July 1 entry date, if hired on or after June 1, 2022 . * For this purpose, a Year of Eligibility Service is an Eligibility Computation Period in which 1,000 Hours of Service is credited. Eligibility Computation Periods are the 12 months following the first Hour of Service and Plan Years starting after the first Hour of Service. Compensation and deferrals pri or to a qualifying Entry Date are not taken into account. If a Limited Participant qualifies for a Plan Year after meeting all these conditions, a Matching and Nonelective contributio n will be contributed to the A ccount , without interest, after the end of th e Plan Year. Important Note: If transferred from a Limited Participa n t Status position to a Full Participa n t position, or vice versa, the above requirements will continue to apply for but only with respect to periods when in Limited Participation Status. ARTICLE IV COMPENSATION AND ACCOUNT BALANCE What compensation is used to determine my Plan benefits? Compensation for calculating Elective D eferrals and Employer contributions is taxable base compensation only. Pay for overtime hours and bonuses is not taken into account. Stipends are disregarded, except for employees whose pay consists solely or most ly of stipends. Taxable non - cash compensation is disregarded. Adjustments to compensation. T he following adjustments to base compensation will be made : - Elective Deferrals to this Plan and to any other pre - tax plan or arrangement (such as salary reductions under a flexible benefits cafeteria plan or employee contributions for health insurance) will be included , even though not taxable . - C ompensation paid after you terminate is generally excluded . However, compensation that would have been considered compensation (like a final pay check) is counted, if paid within 2 1/2 months after you terminate employment, or if later, the last day of the Plan Year in which you terminate employment: Is there a limit on the amount of C ompensation which can be considered? The Plan, by law, cannot recognize annual compensation in excess of a certain dollar limit. The limit for the Plan Year begin ning in 2022 is $ 305,000 . After 2022, the dollar limit might increase for cost - of - living adjustments. Is there a limit on how much can be contributed to my account each year? The law imposes a limit on the amount of contributions (both Employer contributions and elective deferrals, but exclu ding Age 50 Catch - Up Deferrals) that may be made to your accounts during a year. For 2022, this total cannot exceed the lesser of $61,000 or 100% of your includible compensation (generally your compensation for the prior 12 - month period, as limited under t he previous question). After 2022, the dollar limit might increase for cost - of - living adjustments. The above limit may also need to be applied by taking into account contributions made to other retirement plans in which you are a participant. If you have more than 50% control of a corporation, partnership, and/or sole proprietorship, then the above limit is based on contributions made in this Plan as well as contributions made to any 403(b) or qualified plans maintained b y the businesses you c ontrol. If you control another business that maintains a plan in which you participate, then you are responsible for providing the Plan Administrator with information necessary to apply the annual contribution limits. If you fail to provide n ecessary and c orrect information to the Plan Administrator, it could result in adverse tax consequences to you, including the inability to exclude contributions to the Plan from your gross income for tax purposes. How is the money in the Plan invested? The Plan assets may be invested in mutual funds and Annuity Contracts. See the Plan Administrator for further details regarding permissible investments. You will be able to direct the investment of your Plan account , including your elective deferrals . The Plan Administrator will provide you with information on the investment choices available to you, the frequency with which you can change your investment choi ces and other information. If you do not direct the investme nt of your Plan account, then your account will be invested in accordance with