Common use of Catch-Up Contributions Clause in Contracts

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan plan limit and that are made by Participants participants who are age fifty (50) aged 50 or over by the end of their taxable years. An otherwise applicable Plan plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section §402(g) (not counting Catch-Up up Contributions) and the limit imposed by the Actual Deferral Percentage actual deferral percentage (ADP) test under Code Section §401(k)(3). Catch-Up up Contributions for a Participant participant for a taxable year may not exceed: exceed (a1) the dollar limit on Catch-Up up Contributions under Code Section §414(v)(2)(B)(i) for the taxable year, or year or (b2) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five 100 percent (75%) of the Participantparticipant’s Compensation for the taxable year. The dollar limit on Catch-up Contributions under Code §414(v)(2)(B)(i) was $5,000 for taxable years beginning in 2006. After 2006, the $5,000 limit is adjusted by the Secretary of the Treasury for cost-or-living increases under Code §414(v)(2)(C). Any such adjustments will be in multiples of $500. Different limits apply to Catch-up Contributions under SIMPLE 401(k) plans. Catch-up Contributions are not subject to the limits on annual additions, are not counted in the ADP test and are not counted in determining the minimum allocation under Code §416 (but Catch-up Contributions made in prior years are counted in determining whether the Plan is top-heavy) Provisions in the Plan relating to Catch-up Contributions apply to Elective Deferrals made after 2001.

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) (or as elected on the Adoption Agreement) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an any otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over older (by the end of their taxable yearstax year). An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits limit on annual additionsAnnual Additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test Test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) exceed the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) year or when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent 75% (75%or the amount elected on the Adoption Agreement) of the Participant’s Compensation for the taxable year. The dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C) in multiples of $500. Catch-Up Contributions are not subject to the limit on Annual Additions, are not counted in the ADP Test and are not counted in determining the minimum allocation under Code Section 416 (but Catch-Up Contributions made in prior years are counted in determining whether the Plan is Top-Heavy). Provisions in the Plan relating to Catch-Up Contributions apply to Elective Deferrals or ▇▇▇▇ Elective Deferrals made after 2001.

Catch-Up Contributions. If elected in the Adoption Agreement, Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) (or as elected on the Adoption Agreement) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. If elected in the Adoption Agreement, Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) (or as elected on the Adoption Agreement) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. Employees who are If selected in the Adoption Agreement, an eligible to Participant may make Elective Deferrals or a Catch-Up Contribution. A Catch-Up Contribution is a Pre-Tax Contribution and/or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals Contribution made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants a Participant who are is age fifty (50) 50 or over by the end of their his or her taxable yearsyear that: (1) exceeds any of the Applicable Limits, as defined below and (2) is treated under the Plan as a Catch-Up Contribution, but only to the extent that it does not exceed the Catch-Up Contribution Limit, as defined below. An otherwise applicable Plan limit Applicable Limit is a limit in the Plan that applies to Elective Deferrals or a Pre-Tax Contribution and ▇▇▇▇ Elective Deferrals Contribution without regard to its status as a Catch-Up ContributionsContribution, such as the limits including: (1) a limit on annual additions, the dollar limitation on Elective Deferrals or Pre-Tax Contributions/▇▇▇▇ Elective Deferrals Contributions or Annual Additions permitted to be made (without regard to Code Section 414(v)) with respect to a Participant for a year provided in Code Section 401 (a)(30), 402(h), 403(b), 408, 415(c) or 457(b)(2) (without regard to Code Section 457(b)(3), as applicable); (2) the limit imposed under Code Section 402(g401 (k)(3) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Limit); and (3) an Employer-provided limit on the Pre-Tax Contributions/▇▇▇▇ Contributions a Participant is permitted to make (without regard to Code Section 401(k)(3414(v)) that is set forth in the Plan, but not required by the Code (Employer-Provided Limit). An Employer-Provided Limit that restricts Pre-Tax Contributions/▇▇▇▇ Contributions (including those made by a Participant eligible to make Catch-Up Contributions for Contributions) shall not be less than 75% of a Participant Participant’s Plan Compensation. The Catch-Up Contribution Limit for a taxable year may not exceed: (a) is the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The Catch-Up Contributions Limit is $1,000 for taxable years beginning in 2002, or increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary for cost-of-living increases under Code Section 414(v)(2)(C). A Catch-Up Contribution shall not be: (a) subject to any otherwise applicable limitation contained in Code Section 401(a)(30), 402(h), 403(b), 408, 415(c), or 457(b)(2) (determined without regard to Code Section 457(b)(3)) or taken into account in applying such limitations to other contribution or benefits under the Plan or any other plan, and (b) when added treated as failing to other Elective Deferrals meet the requirements of Code Section 401 (a)(4), 401 (k)(3), 401 (k)(11), 403(b)(1 2), 408(k), 410(b), or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) 416 by reason of the Participant’s Compensation for the taxable yearmaking (or right to make) such contribution.

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇R▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇R▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇R▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇R▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇R▇▇▇ Elective Deferrals, seventy-five percent (75%) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. If elected in the Adoption Agreement, Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) or older before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. If elected in the Adoption Agreement, Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) or older before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) (or as elected on the Adoption Agreement) of the Participant’s Compensation for the taxable year. The dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500. Catch-Up Contributions are not subject to the limit on Annual Additions, are not counted in the ADP test and are not counted in determining the minimum allocation under Code Section 416 (but Catch-Up Contributions made in prior years are counted in determining whether the Plan is Top-Heavy). Provisions in the Plan relating to Catch-Up Contributions apply to Elective Deferrals or ▇▇▇▇ Elective Deferrals made after 2001.

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50a) before the end of their taxable year shall be eligible to make Catch-Up up Contributions may be made to the Plan in accordance with the provisions of this section. (b) Catch-up Contributions will be made in accordance with, and subject to the limitations of, Section 414(v) of the Code and applicable Regulations. Catch-up Contributions are elective deferrals (“elective deferrals” for purposes of this section means an elective deferral with the meaning of Section 402(g)(3) of the Code or any contribution to a Code Section 457 eligible governmental plan) that exceed applicable limits and are made by an Employee who is eligible to make 401(k) Contributions under this Plan and who will have attained age 50 before the close of the Employee’s taxable year. Those applicable limits are a statutory limit, which is any limit on elective deferrals or annual additions (as defined in Section 5.2) permitted to be made (without regard to Section 414(v) of the Code and applicable Regulations) with respect to a Covered Employee for a year provided in Sections 401(a)(30) or 415(c) of the Code, Employer provided limits on elective deferrals (without regard to Section 414(v) of the Code and applicable Regulations), and actual deferral percentage limits under Section 401(k)(3) of the Code (the highest amount of elective deferrals that can be retained in the Plan by a Highly Compensated Employee under the rules of Section 401(k)(8)(C) of the Code). (c) The amount of elective deferrals in excess of an applicable limit is determined as of the end of the Plan Year by comparing the total elective deferrals for the Plan Year with the applicable limit for the Plan Year. However, in the case of a Plan that provides for separate Employer provided limits on elective deferrals for separate portions of Compensation within the Plan Year (such as each pay period), the applicable limit for the Plan Year is the sum of the dollar amounts of the limits for the separate pay periods, except that an alternative is available under Regulations if different limits are provided for different parts of the year (a time-weighted average of the deferral percentage limits under Section 401(k)(3) of the Code may be applied). Such Also, in the case of an applicable limit that is applied on the basis of a year other than the Plan Year (e.g., the calendar year limit on elective deferrals under Section 401(a)(30) of the Code), the determination of whether elective deferrals are in excess of the applicable limit is made on the basis of such other year. (d) Elective deferrals with respect to a Participant that are in excess of an applicable limit are treated as Catch-Up up Contributions shall as of a date within a taxable year of the Participant only to the extent that such elective deferrals do not exceed the Catch-up Contribution limit of Section 414(v)(2)(B)(i) of the Code for that taxable year, including cost of living adjustments, reduced by elective deferrals previously treated as Catch-up Contributions for the taxable year. For purposes of determining the maximum amount of permitted Catch-up Contributions for a Participant, the determination of whether an elective deferral is a Catch-up Contribution is made as of the last day of the Plan Year (or in the case of Section 415 of the Code, the limitation year as defined in Section 5.2), except that, with respect to elective deferrals in excess of an applicable limit that is tested on the basis of the taxable year or calendar year (e.g., the Section 401(a)(30) limit on elective deferrals), the determination of whether such elective deferrals are treated as Catch-up Contributions is made at the time they are deferred. (e) Employees in other Employer plans described in applicable Regulations must be able to make similar contributions pursuant to those Regulations (unless an exception described in those Regulations applies) for Catch-up Contributions to receive the treatment described in this Plan. (f) Catch-up Contributions are not taken into account in applying the limits of Sections 401(a)(30) and 415(c) of the Code. Also, to the extent provided in applicable Regulations, they are not taken into account in application of the actual deferral percentage test under Section 401(k)(3) of the Code. Further, Catch-up Contributions are not taken into account for purposes of the provisions Section 416 of the Code for a current Plan implementing the required limitations Year, but such contributions for prior Plan Years are taken into account for purposes of Code Sections 402(gthat section. Similarly, Catch-up Contributions are not taken into account for purposes of Section 410(b) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant current Plan Year, but such contributions for a taxable year may not exceed:prior Plan Years are taken into account for purposes of that section. (ag) the The dollar limit on Catchcatch-Up Contributions up contributions under Code Section 414(v)(2)(B)(i) of the Code is $5,000 for taxable years beginning in 2006 and later years. After 2006, the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy$5,000 limit will be adjusted by the Secretary of the Treasury for cost-five percent (75%of-living increases under Section 414(v)(2)(C) of the Participant’s Compensation Code. Any such adjustments will be in multiples of $500. The limit is $6,000 for the taxable year2016.