Common use of Participation in More Than One Plan Clause in Contracts

Participation in More Than One Plan. The provisions of this Section 3.7.3 apply with respect to a Participant who, in addition to the Plan, is covered or has been covered under one or more Defined Contribution Plans (whether or not Master or Prototype Plans), welfare benefit funds, an individual medical account or a simplified employee pension plan maintained by the Primary Employer or an Affiliate, which provides an Annual Addition as described in Section 3.7.1(A) of the Plan during any Limitation Year. (A) The Annual Additions which may be credited to a Participant’s Account under the Plan for any such Limitation Year shall not exceed the Maximum Permissible Amount reduced by the Annual Additions credited to the Participant’s Account under the other qualified Master or Prototype Defined Contribution Plans and welfare benefit fund, individual medical account or simplified employee pension plan for the same Limitation Year. If the Annual Additions with respect to the Participant under other qualified Master or Prototype Defined Contribution Plans, welfare benefit funds, individual medical account, and simplified employee pension plan maintained by the Employer are less than the Maximum Permissible Amount and the Employer contribution that would otherwise be contributed or allocated to a Participant’s Account under this Plan would cause the Annual Additions for the Limitation Year to exceed this limitation, the amount contributed or allocated shall be reduced so that the Annual Additions under all such other 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 qualified Master or Prototype Defined Contribution Plans and welfare benefit funds, individual medical account, or simplified employee pension plan 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 the Plan for the Limitation Year. (B) In determining the Participant’s actual 415 Limitation Compensation for a Limitation Year, the Maximum Permissible Amount for a Participant may be determined in the manner described in Section 3.7.2(B). (C) As soon as is administratively feasible after the end of a Limitation Year, the Maximum Permissible Amount for the Limitation Year shall be determined on the basis of the Participant’s actual 415 Limitation Compensation for the Limitation Year. (D) If, under Section 3.7.3(A) above, or as a result of the allocation of forfeitures, a Participant’s Annual Additions under the Plan and the Participant’s Annual Additions under such other plans would result in an Excess Amount for a Limitation Year, the Excess Amount shall be deemed to consist of the Annual Additions last allocated, except that Annual Additions attributable to a simplified employee pension plan will be deemed to have been allocated first, followed by Annual Additions to a welfare benefit fund or individual medical benefit account regardless of the actual allocation date. (E) If an Excess Amount was allocated to a Participant on an allocation date of the Plan which coincides with an allocation date of another such plan, the Excess Amount attributed to the Plan will be the product of: (1) the total Excess Amount allocated as of such date, times (2) the ratio of (a) the Annual Additions allocated to the Participant for the Limitation Year as of such date under this Plan to (b) the total Annual Additions allocated to the Participant for the Limitation Year as of such date under this Plan and all the other qualified Master or Prototype Defined Contribution Plans. (F) Any Excess Amount attributed to this Plan will be disposed in the manner described in Section 3.7.2(D).

Participation in More Than One Plan. The provisions of this Section 3.7.3 apply with respect to a Participant who, in addition to the Plan, is covered or has been covered under one or more Defined Contribution Plans (whether or not Master or Prototype Plans), welfare benefit funds, an individual medical account or a simplified employee pension plan maintained by the Primary Employer or an Affiliate, which provides an Annual Addition as described in Section 3.7.1(A) of the Plan during any Limitation Year. (A) The Annual Additions which may be credited to a Participant’s Account under the Plan for any such Limitation Year shall not exceed the Maximum Permissible Amount reduced by the Annual Additions credited to the Participant’s Account under the other qualified Master or Prototype Defined Contribution Plans and welfare benefit fund, individual medical account or simplified employee pension plan for the same Limitation Year. If the Annual Additions with respect to the Participant under other qualified Master or Prototype Defined Contribution Plans, welfare benefit funds, individual medical account, and simplified employee pension plan maintained by the Employer are less than the Maximum Permissible Amount and the Employer contribution that would otherwise be contributed or allocated to a Participant’s Account under this Plan would cause the Annual Additions for the Limitation Year to exceed this limitation, the amount contributed or allocated shall be reduced so that the Annual Additions under all such other 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 qualified Master or Prototype Defined Contribution Plans and welfare benefit funds, individual medical account, or simplified employee pension plan 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 the Plan for the Limitation Year. (B) In determining the Participant’s actual 415 Limitation Compensation for a Limitation Year, the Maximum Permissible Amount for a Participant may be determined in the manner described in Section 3.7.2(B). (C) As soon as is administratively feasible after the end of a Limitation Year, the Maximum Permissible Amount for the Limitation Year shall be determined on the basis of the Participant’s actual 415 Limitation Compensation for the Limitation Year. (D) If, under Section 3.7.3(A) above, or as a result of the allocation of forfeitures, a Participant’s Annual Additions under the Plan and the Participant’s Annual Additions under such other plans would result in an Excess Amount for a Limitation Year, the Excess Amount shall be deemed to consist of the Annual Additions last allocated, except that Annual Additions attributable to a simplified employee pension plan will be deemed to have been allocated first, followed by Annual Additions to a welfare benefit fund or individual medical benefit account regardless of the actual allocation date. (E) If an Excess Amount was allocated to a Participant on an allocation date of the Plan which coincides with an allocation date of another such plan, the Excess Amount attributed to the Plan will be the product of: (1) the total Excess Amount allocated as of such date, times (2) the ratio of (a) the Annual Additions allocated to the Participant for the Limitation Year as of such date under this Plan to (b) the total Annual Additions allocated to the Participant for the Limitation Year as of such date under this Plan and all the other qualified Master or Prototype Defined Contribution Plans. (F) Any Excess Amount attributed to this Plan will be disposed in the manner described in Section 3.7.2(D).