Common use of ADP Correction Clause in Contracts

ADP Correction. Before-Tax Contributions shall, by the end of the next Plan Year, be refunded (including amounts previously refunded because they exceeded the Contribution Dollar Limit) to the Participant in an amount equal to the actual Deferrals minus the product of the maximum percentage and the HCE's Compensation. Any Company Match Contributions attributable to refunded excess Before-Tax Contributions as described in this Section, adjusted for investment gain or loss, shall be removed from the Participant's Account and used to reduce subsequent Contributions under the Plan as soon as is administratively feasible.

ADP Correction. BeforePre-Tax Contributions shall, by the end of the next Plan Year, be refunded (including amounts previously refunded because they exceeded the Contribution Dollar Limit) to the Participant in an amount equal to the actual Deferrals minus the product of the maximum percentage and the HCE's Compensation. Any Company Match Contributions attributable to refunded excess BeforePre-Tax Contributions as described in this Section, adjusted for investment gain or loss, Section 12.3(a) shall be deemed a Contribution made by reason of a mistake of fact and removed from the Participant's Account and used to reduce subsequent Contributions under the Plan as soon as is administratively feasibleAccount.