Common use of Distribution of Excess Contributions Clause in Contracts

Distribution of Excess Contributions. Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participants to whose Accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than 2-1/2 months after the last day of the Plan Year in which such excess amounts arose, a ten (10) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions of Participants who are subject to the family member aggregation rules shall be allocated among the family members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferrals) of each family member that is combined to determine the combined ADP. Excess Contributions distributed under this section shall be adjusted for any income or loss based on a reasonable method of computing the allocable income or loss. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must be the same method that is used by the Plan for allocating income or loss to Participants' Accounts. Income or loss allocable to the period between the end of the taxable year and the date of distribution may be disregarded in determining income or loss. Excess Contributions shall be distributed from the Participant's Elective Contribution Account in proportion to the Participant's Elective Deferrals for the Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Contribution Account.

Distribution of Excess Contributions. (a) Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participants to whose Accounts accounts such Excess Contributions were allocated for the preceding Plan Year. The amount of Excess Contributions attributable to a given HCE for a Plan Year is the amount (if any) by which the HCE's contributions taken into account under this Section must be reduced for the HCE's ADR to equal the highest permitted ADR under the Plan. To determine and calculate the highest permitted ADR under the Plan, the ADR of the HCE with the highest ADR is reduced by the amount required to cause that HCE's ADR to equal the ADR of the HCE with the next highest ADR. If a lesser reduction would enable the arrangement to satisfy the ADP requirements, then only this lesser reduction is used in determining the highest permitted ADR. This process described above must be repeated until the arrangement would satisfy the ADP requirements. The sum of all reductions for all HCEs determined under this Section the total amount of Excess Contributions for the Plan Year. Excess Contributions are allocated to the Highly Compensated Employees with the largest amounts of employer contributions taken into account in calculating the ADP test for the year in which the excess arose, beginning with the Highly Compensated Employee with the largest amount of such employer contributions and continuing in descending order until all the Excess Contributions have been allocated. For purposes of the preceding sentence, the "largest amount" is determined after distribution of any Excess Contributions. To the extent a Highly Compensated Employee has not reached his or her Catch-up Contribution limit under the Plan, Excess Contributions allocated to such Highly Compensated Employee are Catch-up Contributions and will not be treated as Excess Contributions. If such excess amounts are distributed more than 2-2 1/2 months after the last day of the Plan Year in which such excess amounts arose, a ten (10) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions of Participants who are subject to the family member aggregation rules shall be allocated among the family members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferrals) of each family member that is combined to determine the combined ADP. Excess Contributions distributed under this section shall be adjusted for any income or loss based on a reasonable method of computing the allocable income or loss. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must be the same method that is used by the Plan for allocating income or loss to Participants' Accounts. Income or loss allocable to the period between the end of the taxable year and the date of distribution may be disregarded in determining income or loss. Excess Contributions shall be distributed from the Participant's Elective Contribution Account in proportion to the Participant's Elective Deferrals for the Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Contribution Account.

Distribution of Excess Contributions. Notwithstanding If the Employer does not elect to make Discretionary Contributions pursuant to paragraph (b) above for a Plan Year in which neither of the tests described in Section 3.5(a), as modified by Section 3.6(c), is satisfied, the Plan Administrator may reduce the Deferral Contributions of Active Participants who are Highly Compensated Employees and distribute any other provision of this Plan, Excess Contributions, plus and any income and minus any loss allocable thereto, as provided below. Excess Contributions shall mean the excess of (i) the aggregate amount of the Deferral Contributions and any Incentive Contributions treated as Deferral Contributions for purposes of the Actual Deferral Percentage test actually paid over to the Trust Fund on behalf of Active Participants who are Highly Compensated Employees for the Plan Year, over (ii) the maximum amount of such contributions permitted under Section 3.5(a), as modified by Section 3.6(c), determined by reducing the amount of such contributions of Highly Compensated Employees in the order of their Deferral Percentages, beginning with the highest Deferral Percentage, until the applicable test is satisfied. Distribution of Excess Contributions shall be distributed no later than accomplished by reducing the last day Deferral Contributions of each Plan Year to Participants to whose Accounts such Highly Compensated Employees, beginning with the highest contributions (determined by dollar amount) in the manner set forth in Section 401(k)(8)(C) of the Code, and continuing until the total amount of Excess Contributions were allocated has been distributed. The reductions shall be made first from Unmatched Deferral Contributions and, thereafter, from Matched Deferral Contributions, with any corresponding Incentive Contributions forfeited and reallocated pursuant to Section 3.5(g). Any amount so distributed shall be adjusted in accordance with applicable regulations for the preceding Plan Year. If such excess amounts are distributed more than 2-1/2 months after the last day income or loss allocable thereto in respect of the Plan Year in which such excess amounts arose, a ten (10) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of occurred. If such Employees. Excess Contributions of Participants who are subject to the family member aggregation rules shall be allocated among the family members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferrals) of each family member that is combined to determine the combined ADP. Excess Contributions distributed under this section shall be adjusted for any income or loss based on a reasonable method of computing the allocable income or loss. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must be the same method that is used by the Plan for allocating income or loss to Participants' Accounts. Income or loss allocable to the period between the end of the taxable year and the date of distribution may be disregarded in determining income or loss. Excess Contributions shall be distributed from the Participant's Elective Contribution Account is invested in proportion to the Participant's Elective Deferrals for the Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Account only to the extent that more than one Investment Fund, such Excess Contributions exceed the balance in the Participant's Elective Contribution Account.distribution

Distribution of Excess Contributions. Notwithstanding If the Employer does not elect to make Discretionary Contributions pursuant to paragraph (b) above for a Plan Year in which neither of the tests described in Section 3.5(a), as modified by Section 3.6(c), is satisfied, the Plan Administrator may reduce the Deferral Contributions of Active Participants who are Highly Compensated Employees and distribute any other provision of this Plan, Excess Contributions, plus and any income and minus any loss allocable thereto, as provided below. Excess Contributions shall mean the excess of (i) the aggregate amount of the Deferral Contributions and any Incentive Contributions treated as Deferral Contributions for purposes of the Actual Deferral Percentage test actually paid over to the Trust Fund on behalf of Active Participants who are Highly Compensated Employees for the Plan Year, over (ii) the maximum amount of such contributions permitted under Section 3.5(a), as modified by Section 3.6(c), determined by reducing the amount of such contributions of Highly Compensated Employees in the order of their Deferral Percentages, beginning with the highest Deferral Percentage, until the applicable test is satisfied. Distribution of Excess Contributions shall be distributed no later than accomplished by reducing the last day Deferral Contributions of each Plan Year to Participants to whose Accounts such Highly Compensated Employees, beginning with the highest contributions (determined by dollar amount) in the manner set forth in Section 401(k)(8)(C) of the Code, and continuing until the total amount of Excess Contributions were allocated has been distributed. The reductions shall be made first from Unmatched Deferral Contributions and, thereafter, from Matched Deferral Contributions, with any corresponding Incentive Contributions forfeited and reallocated pursuant to Section 3.5(g). Any amount so distributed shall be adjusted in accordance with applicable regulations for the preceding Plan Year. If such excess amounts are distributed more than 2-1/2 months after the last day income or loss allocable thereto in respect of the Plan Year in which such excess amounts aroseExcess Contributions occurred. If such Participant's Account is invested in more than one Investment Fund, a ten (10) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions distribution shall be made pro rata, to Highly Compensated Employees on the basis extent practicable, from all such Investment Funds. Distribution of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions of Participants who are subject to the family member aggregation rules shall be allocated among the family members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferrals) of each family member that is combined to determine the combined ADP. Excess Contributions distributed under this section shall be adjusted for any income or loss based on a reasonable method of computing the allocable income or loss. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must as determined above, shall be made before the same method that is used by the Plan for allocating income or loss to Participants' Accounts. Income or loss allocable to the period between the end last day of the taxable year and the date of distribution may be disregarded in determining income or loss. Excess Contributions shall be distributed from the Participant's Elective Contribution Account in proportion to the Participant's Elective Deferrals for the next Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Contribution Account.

Distribution of Excess Contributions. Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participants to whose Accounts accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than 2-2 1/2 months after the last day of the Plan Year in which such excess amounts arose, a ten (10) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions of shall be allocated to Participants who are subject to the family member aggregation rules shall be allocated among the family members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferralsof Section 414(q)(6) of each family member that is combined to determine the combined ADPCode in the manner prescribed by the regulations. Excess Contributions distributed (including the amounts recharacterized) shall be treated as Annual Additions under this section the Plan. (1) Determination of Income or Loss: Excess Contributions shall be adjusted for any income or loss based on a reasonable method up to the date of computing the allocable income or lossdistribution. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must be the same method that is used by the Plan for allocating income or loss allocable to Participants' Accounts. Excess Contributions is the sum of: (a) Income or loss allocable to the period Participant's Elective Deferral account (and, if applicable, the Qualified Non-elective Contribution account or the Qualified Matching Contributions account or both) for the Plan Year multiplied by a fraction, the numerator of which is such Participant's Excess Contributions for the year and the denominator is the Participant's account balance attributable to Elective Deferrals (and Qualified Non-Elective Contributions or Qualified Matching Contributions, or both, if any of such contributions are included in the ADP test) without regard to any income or loss occurring during such Plan Year; and (b) Ten Percent of the amount determined under (a) multiplied by the number of whole calendar months between the end of the taxable year Plan Year and the date of distribution, counting the month of distribution may if distribution occurs after the 15th of such month. (2) Accounting for Excess Contributions: Excess Contributions shall be disregarded distributed from the Participant's Elective Deferral account and Qualified Matching Contribution account (if applicable) in determining income or lossproportion to the Participant's Elective Deferrals and Qualified Matching Contributions (to the extent used in the ADP test) for the Plan Year. Excess Contributions shall be distributed from the Participant's Elective Qualified Defined Contribution Account in proportion to the Participant's Elective Deferrals for the Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Contribution Account.and Trust Document

Distribution of Excess Contributions. Notwithstanding any other provision provisions of this ------------------------------------ Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participants to whose Accounts accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than 2-1/2 months that 2 1/2months after the last day of the Plan Year in which such excess amounts arose, a ten percent (10%) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Compensation Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions shall be allocated to Participants who are subject to the Family Member aggregation rules of section 414(q)(6) of the Code in the manner prescribed by the regulations. Excess Contributions of Participants who are subject to the family member Family Member aggregation rules shall be allocated among the family members Family Members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferrals) of each family member Family Member that is combined to determine the combined ADP. Excess Contributions distributed (including the amounts recharacterized) shall be treated as Annual Additions under this section the Plan. Determination of Income or Loss: Excess Contributions shall be adjusted for any income or loss based on a reasonable method of computing the allocable income or loss. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must be the same method that is used by the Plan for allocating income or loss allocable to Participants' Accounts. Income Excess Contributions is the income or loss allocable to the period between Participant's Elective Deferral Account (and, if applicable, the end Qualified Non-Elective Contributions Account or the Qualified Matching Contributions Account or both) for the Plan Year multiplied by a fraction, the numerator of which is such Participant's Excess Contributions for the taxable year and the date denominator is the Participant's account balance attributable to Elective Deferrals (and Qualified Non- Elective Contributions or Qualified Matching Contributions, or both, if any of distribution may be disregarded such contributions are included in determining the ADP test) without regard to any income or lossloss occurring during such Plan Year. Accounting for Excess Contributions: Excess Contributions shall be distributed from the Participant's Elective Contribution Deferral Account and Qualified Matching Contributions Account (if applicable) in proportion to the Participant's Elective Deferrals and Qualified Matching Contributions (to the extent used in the ADP test) for the Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Contributions Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Contribution Deferral Account and Qualified Matching Contributions Account.. Definition:

Distribution of Excess Contributions. Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participants to whose Accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than 2-2 1/2 months after the last day of the Plan Year in which such excess amounts arose, a ten (10) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions of Participants who are subject to the family member aggregation rules shall be allocated among the family members in proportion to the Elective Deferrals (and any amounts treated as Elective Deferrals) of each family member that is combined to determine the combined ADP. Excess Contributions distributed under this section shall be adjusted for any income or loss based on a reasonable method of computing the allocable income or loss. The method selected must be applied consistently to all Participants and used for all corrective distributions under the Plan for the Plan Year, and must be the same method that is used by the Plan for allocating income or loss to Participants' Accounts. Income or loss allocable to the period between the end of the taxable year and the date of distribution may be disregarded in determining income or loss. Excess Contributions shall be distributed from the Participant's Elective Contribution Account in proportion to the Participant's Elective Deferrals for the Plan Year. Excess Contributions attributable to Qualified Non-Elective Contributions shall be distributed from the Participant's Qualified Non-Elective Contribution Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Contribution Account.