Common use of Employers Maintaining Other Master or Prototype Defined Contribution Plans Clause in Contracts

Employers Maintaining Other Master or Prototype Defined Contribution Plans. (a) If, in addition to this Plan, the Participant is covered under another qualified defined contribution plan which qualifies as a Master or Prototype Plan or a welfare benefit fund (as defined in Code Section 419(e)) or an individual medical account (as defined in Code Section 415(1)(2)) maintained by the Employer during any Limitation Year, the amount of Annual Additions which may be allocated under this Plan on the Participant's behalf for such Limitation Year, shall not exceed the Maximum Permissible Amount reduced by the Annual Additions credited to a Participant's account under such other plans, welfare benefit funds or individual medical accounts for the same Limitation Year. If the Annual Additions with respect to the Participant under other defined contribution plans and welfare benefit funds maintained by the Employer are less than the Maximum Permissible Amount and the Employer contribution that would otherwise be contributed or allocated to the Participant's Account under this Plan would cause the Annual Additions for the Limitation Year to exceed this limitation, the amount contributed or allocated will be reduced so that the Annual Additions under all such plans and funds for the Limitation Year will equal the Maximum Permissible Amount. If the Annual Additions with respect to the Participant under such other defined contribution plans and welfare benefit funds in the aggregate are equal to or greater than the Maximum Permissible Amount, no amount will be contributed or allocated to the Participant's Account under this Plan for the Limitation Year.

Employers Maintaining Other Master or Prototype Defined Contribution Plans. (a) IfThis Section applies if, in addition to this Plan, the a Participant is covered under another qualified defined contribution plan which qualifies as a Master or Prototype Plan or defined contribution plan, a welfare benefit fund (as defined in Code Section 419(e)) or ), an individual medical account (as defined in Code Section 415(1)(2)), or a simplified employee pension (as defined in Code Section 408(k)) maintained by the Employer during any Limitation Year, the amount of . The Annual Additions Addition which may be allocated under this Plan on the to any Participant's behalf Account for any such Limitation Year, Year shall not exceed the Maximum Permissible Amount Amount, reduced by the sum of any portion of the Annual Additions Addition credited to a the Participant's account under such other plans, welfare benefit funds or funds, and individual medical accounts for the same Limitation Year. (b) If the Annual Additions Addition with respect to the a Participant under other defined contribution plans and plans, welfare benefit funds funds, individual medical accounts and simplified employee pensions maintained by the Employer of what would be portions of the Annual Addition (if the allocations were made under the Plan) are less than the Maximum Permissible Amount and the Employer contribution Contribution that would otherwise be contributed or allocated to the Participant's Account under this Plan would cause the Annual Additions Addition for the Limitation Year to exceed this limitation, the amount contributed or allocated will be reduced so that the Annual Additions Addition under all such plans and funds for the Limitation Year will equal the Maximum Permissible Amount. (c) If the Annual Additions Addition with respect to the Participant under such other defined contribution plans and plans, welfare benefit funds funds, individual medical accounts and simplified employee pensions in the aggregate are equal to or greater than the Maximum Permissible Amount, no amount will be contributed or allocated to the Participant's Account under this Plan for the Limitation Year. (d) Prior to determining the Participant's actual Compensation for the Limitation Year, the Employer may determine the Maximum Permissible Amount for a Participant in the manner described in Section 5.01(b)(i) provided the Employer complies with the provisions of Section 5.01(b)(ii). (e) If, pursuant to Section 5.02(d) or as a result of the allocation of forfeitures, a Participant's Annual Addition under this Plan and such Participant's annual additions under such other defined contributions plans, welfare benefit funds, individual medical accounts and simplified employee pensions would result in an Excess Amount for a Limitation Year, the Excess Amount will be deemed to consist of the annual additions last allocated, except that annual additions attributable to a simplified employee pension will be deemed to have been allocated first, followed by annual additions to a welfare benefit fund or individual medical account, regardless of the actual allocation date. (f) If an Excess Amount was allocated to a Participant under this Plan on a date which coincides with the date an allocation was made under another plan, the Excess Amount attributed to this Plan will be the product of: (i) the total Excess Amount allocated as of such date, multiplied by (ii) the quotient obtained by dividing (A) the portion of the Annual Addition allocated to the Participant for the Limitation Year as of such date by (B) the total Annual Addition allocated to the Participant for the Limitation Year as of such date under this and all the other qualified Master or Prototype defined contribution plans maintained by the Employer. (g) Any Excess Amount attributed to the Plan will be disposed in the manner described in Section 5.01.