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SECTION III <br /> LIMITATIONS ON AMOUNTS DEFERRED <br /> 3.1 Basic Annual Limitation <br /> (a) The maximum amount of the Annual Deferral and, if applicable, Employer Contributions <br /> under the Plan for any calendar year shall not exceed the lesser of: <br /> (i) The "applicable dollar amount" (as defined in paragraph(b)below); or <br /> (ii) The Participant's Includible Compensation for the calendar year. <br /> (b) The "applicable dollar amount" means the amount established under Code Section <br /> 457(e)(15), as indexed, and in accordance with Section 3.4(a). <br /> (c) Rollover amounts received by the Plan under Treasury Regulation Section 1.457-10(e)and <br /> any plan-to-plan transfer into the Plan made pursuant to Section 7.2 shall not be applied <br /> against the Annual Deferral limit. <br /> 3.2 Age 50 Catch-up Annual Deferral Contributions <br /> A Participant who will attain age 50 or more by the end of a calendar year is permitted to elect an <br /> additional amount of Annual Deferral for the calendar year,up to the maximum age 50 catch-up <br /> Annual Deferral limit under §414(v)(2), as indexed. <br /> The amount of the age 50 catch-up Annual Deferral for any calendar year cannot exceed the <br /> amount of the Participant's Compensation,reduced by the amount of the elective deferred <br /> compensation, or other elective deferrals,made by the Participant under the Plan and in <br /> accordance with Section 3.4(a). <br /> The age 50 catch-up Annual Deferral limit is not available to a Participant for any calendar year for <br /> which the Special Section 457 Catch-up Limitation described in Section 3.3 is available and <br /> applied. <br /> 3.3 Special Section 457 Catch-up Limitation <br /> Notwithstanding the provisions of Sections 3.1 and 3.2,with respect to a year that is one of a <br /> Participant's last three (3)calendar years ending before the year in which the Participant attains <br /> Normal Retirement Age and the amount determined under this Section 3.3 exceeds the amount <br /> computed under Sections 3.1 and 3.2,then the Annual Deferral limit under this Section 3.3 shall be <br /> the lesser of: <br /> (a) An amount equal to two(2)times the Section 3.1 Applicable Dollar Amount for such year; <br /> or <br /> (b) The sum of: <br /> 8 <br /> GN- 107672 Specimen 457(b)Plan Document <br /> GPLANLVL—CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />