Company: TDBCP
Filing Date: 2025-06-23
Form Type: 11-K
Source: 0001104659-25-061742
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-23
Form: 11-K
Chunk 4
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 the Plan up to
50% of their eligible compensation on a pre-tax basis, a Roth after-tax basis, or a combination of both. Eligible compensation considered
for this purpose meets the standards defined by the Internal Revenue Code (the “Code”) for safe harbor plans and includes,
but is not limited to, regular earnings, overtime pay, commissions, bonuses, and incentives. Participants may also roll over their account
balances from a prior employer's eligible employer plan (e.g., a 401(k) plan, profit sharing plan, or 403(b) tax sheltered
annuity) or from a traditional individual retirement account or annuity.

5

<div align='center'>TD 401(k) Retirement Plan

Notes to Financial Statements (continued)

December 31, 2024 and 2023</div>

1. Description of the Plan (continued)

Participants are eligible for employer matching contributions on the first of the month following (or coincident with) completion of twelve months of service with the Company or an affiliate. The employer match was designed to meet the standards for safe harbor treatment as defined by the Code. The Plan matches for the Plan Yearat the rate of one dollar ($1.00) for each one dollar ($1.00) of Salary Deferrals
made on behalf of the Participant up to the first three percent (3%) of his or her Earnings while a Participant; plus fifty cents ($0.50)
for each one dollar ($1.00) of Salary Deferrals made on his or her behalf in excess of the first three percent (3%) and not exceeding
the first six percent (6%) of such Earnings while a Participant. Matching contributions for 2024 and 2023 totaled $111.9 million and $93.8
million, respectively. Participants’ contributions are subject to Code limitation, which was $23,000 for 2024 and $22,500 for 2023.
Catch-up contributions (within the meaning of Section 414(v) of the Code) can also be made by participants who reach age 50
during the Plan year. Participants are only permitted to make catch-up contributions after they have already contributed the maximum amount
for the year. The catch-up contribution limit was $7,500 in 2024 and 2023, respectively.

The Plan also includes an employer core contribution
for all eligible employees. To be eligible for a core contribution, an employee must first complete a year of service with the Company
or an affiliate