Common use of Correction of ADP and ACP Tests Clause in Contracts

Correction of ADP and ACP Tests. If the ADP or ACP Tests are not met, the Administrator shall determine, no later than the end of the next Plan Year, a maximum percentage to be used in place of the calculated percentage for all HCEs that would reduce the ADP and/or ACP for the HCE Group by a sufficient amount to meet the ADP and ACP Tests. With regard to each HCE whose Deferral percentage and/or Contribution percentage is in excess of the maximum percentage, a dollar amount of excess Deferrals and/or excess Contributions shall then be determined by (i) subtracting the product of such maximum percentage for the ADP and the HCE's Compensation from the HCE's actual Deferrals and (ii) subtracting the product of such maximum percentage for the ACP and the HCE's Compensation from the HCE's actual Contributions. Such amounts shall then be aggregated to determine the total dollar amount of excess Deferrals and/or excess Contributions. ADP and/or ACP corrections shall be made in accordance with the leveling method as described below.

Correction of ADP and ACP Tests. If For each Plan Year, if the ADP or ACP Tests are not met, the Administrator Administrative Committee shall determine, no later than the end of the next Plan Year, a maximum percentage to dollar amount be used in place of the calculated percentage dollar amount for all HCEs that would reduce the ADP and/or ACP for the HCE Group by a sufficient amount to meet the ADP and ACP Teststests. With regard to each HCE whose Deferral percentage amount and/or Contribution percentage amount is in excess of the maximum percentageamount, a dollar amount of excess Deferrals and/or excess Contributions shall then be determined by (i) subtracting the product of such maximum percentage amount for the ADP and the HCE's ’s Compensation from the HCE's ’s actual Deferrals and (ii) subtracting the product of such maximum percentage amounts for the ACP and the HCE's ’s Compensation from the HCE's ’s actual Contributions. Such amounts shall then be aggregated to determine the total dollar amount of excess Deferrals and/or excess Contributions. ADP and/or ACP corrections shall be made in accordance with the leveling method as described below.