Subject to Section 4.15, the aggregate Salary Deferrals of any Member for any calendar year, together with his or her elective deferrals under any other plan or arrangement to which [section 402(g)] of the IRC applies and that is maintained by PACCAR Inc or any Subsidiary (as defined in Section 2.1(mm) without regard to the last sentence thereof), shall not exceed the dollar amount set forth in [section 402(g)] of the IRC (or such larger amount as may be adopted by the Commissioner of Internal Revenue to reflect a cost-of-living adjustment). In the event that such aggregate Salary Deferrals and elective deferrals of any Member for any calendar year exceed the dollar amount set forth in [section 402(g)] of the IRC (or such larger amount as may be adopted by the Commissioner of Internal Revenue to reflect a cost-of-living adjustment), then such portion of the Excess Deferrals, and any income or loss allocable to such portion for the calendar year (but not for the period between the end of the calendar year and the date of distribution of such Excess Deferrals) shall be refunded to the Member not later than the April 15 next following the close of such calendar year. Such income (and loss) allocable to Excess Deferrals shall be determined in accordance with Treasury Regulation [section 1.402(g)-]l(e)(5).

In the event that a Member’s elective deferrals (within the meaning of [section 402(g)(3)] of the IRC) for a calendar year exceed the dollar amount set forth in [section 402(g)] of the IRC (or such larger amount as may be adopted by the Commissioner of Internal Revenue to reflect a cost-of-living adjustment) solely because such Member participated in this Plan and a plan or arrangement maintained by an employer other than PACCAR Inc or any Subsidiary (as defined in Section 2.1(mm) without regard to the last sentence thereof), then such