ADDITIONAL LIMITATION ON ELECTIVE DEFERRALS Sample Clauses

ADDITIONAL LIMITATION ON ELECTIVE DEFERRALS. Elective De ferrals of a Participant for the Participant's taxable year immediately following the taxable year in which he or she receives a hardship distribution of Elective Deferrals from any plan of the Employer shall not exceed the excess of the applicable limit under Section 402(g) of the Code for such taxable year reduced by the amount of the Participant's Elective Deferrals for the taxable year in which he or she receives the hardship distribution.