Limitations on Annual Additions. Clause (a).
Limitations on Annual Additions. If the Participant participates in another qualified defined contribution plan maintained by the Employer, or a welfare benefit fund, as defined in section 419(e) of the Code, maintained by the Employer, or an individual medical account, as defined in section 415(l)(2) of the Code, maintained by the Employer which provides an Annual Addition during any Limitation Year, or a simplified employee pension, as defined in section 408(k) of the Code, maintained by the Employer, which provides an Annual Addition, then subject to the adjustments hereinafter set forth, the amount of Annual Additions which may be credited to a Participant's Accounts during any Limitation Year shall not exceed the maximum permissible amount, which shall equal the lesser of: (a) thirty thousand dollars ($30,000.00) as adjusted under section 415(d) of the Code or, (b) twenty-five percent (25%) of the Participant's Compensation for the Plan Year reduced by the Annual Additions credited to a Participant's Account under the other plans and welfare benefit funds for the same Limitation Year. The compensation limitation referred to in (b) shall not apply to any contribution for medical benefits (within the meaning of section 401(h) or section 419A(f)(2) of the Code) which is otherwise treated as an Annual Addition under sections 415(l)(1) or 419A(d)(2) of the Code. If the Employer contribution that would otherwise be contributed or allocated to the Participant's Account would cause the Annual Additions for the Limitation Year to exceed the maximum permissible amount, the amount contributed or allocated shall be reduced so that the Annual Additions for the Limitation Year shall equal the maximum permissible amount.
Limitations on Annual Additions. Except to the extent permitted under paragraph 4.1(b) of the Plan and Code Section 414(v), and notwithstanding any other provision of the Plan to the contrary, a Participant’s Annual Additions (as defined below) for any Plan Year shall not exceed an amount equal to the lesser of:
Limitations on Annual Additions. Notwithstanding the provisions of Section 5.04, if no more than one-third (1/3) of the Company Contributions to the Plan for a Plan Year are allocated to accounts of Highly Compensated Employees, the following amounts shall be excluded in determining the Annual Addition of each Participant for such Plan Year: (i) Forfeitures of Company Stock acquired with the proceeds of a Promissory Note, (ii) Company Contributions to the Plan which are used to pay the interest on a Promissory Note and which are deductible under Code Section 404(a)(9)(B) and which are charged against the Participant’s Company Contribution Account.
Limitations on Annual Additions. If the Employer maintains or ever maintained another qualified plan in which any Participant in this Plan is (or was) a participant or could possibly become a participant, the following two items must be completed. They must also be completed if the Employer maintains a welfare benefit fund, as defined in section 419(e) of the Code, or an individual medical benefit account, as defined in section 415(1)(2) of the Code, under which amounts are treated as Annual Additions with respect to any Participant in the Plan.
Limitations on Annual Additions. Notwithstanding any other provision of this Plan, the maximum Annual Addition during any Plan Year for any Participant under this Plan and under any other qualified defined contribution plans maintained by the Companies shall in no event exceed the lesser of:
Limitations on Annual Additions. 44 -ii- 4 Page(s)
Limitations on Annual Additions. Notwithstanding anything hereinabove to the contrary, the sum of the amounts credited to the accounts of any
Limitations on Annual Additions. If the Participant does not participate in, and has never participated in, another qualified plan maintained by the Employer, or a welfare benefit fund, as defined in Section 419(e) of the Code, maintained by the Employer, or an individual medical account, as defined in Section 415(l)(2) of the Code, maintained by the Employer, which provides an annual addition, then subject to the adjustments hereinafter set forth, the amount of annual additions which may be credited to a Participant's Accounts during any Limitation Year shall not exceed the maximum permissible amount, which shall equal the lesser of:
Limitations on Annual Additions. Except to the extent permitted under Section 414(v) of the Code, if applicable, the Annual Addition that may be contributed or allocated to a Participant’s Account under the Plan for any Plan Year shall not exceed the lesser of: (x) forty thousand dollars ($40,000), as adjusted pursuant to Code Section 415(d) and Treasury Regulation Section 1.415(d)-1(b) or (y) 100 percent of the Participant’s Compensation (as defined by Treasury Regulation Section 1.415(c)-2) for the Plan Year; provided, however, that the special increased limitation of Section 415(c)(6) of the Code shall apply to the ESOP. The Compensation limit referred to in clause (y) above shall not apply to an individual medical benefit account (as defined in Code Section 415(l)) or a post-retirement medical benefits account for a key employee (as defined in Code Section 419A(d)(1)),which is otherwise treated as an Annual Addition. If, in addition to this Plan, a Participant participates in one or more other qualified defined contribution plans maintained by the Company during any Plan Year, the Annual Additions to be applied to the Participant’s Account under this Plan, together with the Annual Additions to be applied to such Participant’s account under such other plan or plans for such Plan Year, shall not exceed the lesser of (x) or (y) in the immediately preceding paragraph.
