Common use of Earned Income Clause in Contracts

Earned Income. The net earnings from self-employment in the trade or business with respect to which the Plan is established, for which personal services of the individual are a material income-producing factor. Net earnings will be determined without regard to items not included in gross income and the deductions allocable to such items. Net earnings are reduced by contributions by the Employer to qualified plans or to a SEP plan to the extent deductible under Section 404 of the Code. Net earnings shall be determined with regard to the deduction allowed to the Employer by Section 164(f) of the Code.

Earned Income. The net earnings from self-employment in the trade or business with respect to which the Plan is established, established for which personal services of the individual Participant are a material income-producing factor. Net earnings will shall be determined without regard to items not included in gross income and 14535 3 05/01/07 the deductions allocable to such items. Net earnings are reduced by contributions by items but, in the Employer to qualified plans or to a SEP plan case of taxable years beginning after 1989, with regard to the extent deductible under Section 404 deduction allowed to the taxpayer by section 164(f) of the Code. Net earnings shall be determined with regard reduced by contributions to a qualified Plan to the deduction allowed to the Employer by Section 164(f) extent deductible under section 404 of the Code.

Earned Income. The net earnings from self-employment in the trade or business with respect to which the Plan is established, for which personal services of the individual are a material income-producing factor. Net earnings will be determined without regard to items not included in gross income and the deductions allocable to such items. Net To the extent required by the PR Code or regulations thereunder, net earnings are reduced by contributions by the Employer to qualified plans or to a SEP qualified plan to the extent deductible under Section 404 1023 of the Code. Net earnings shall be determined with regard to the deduction allowed to the Employer by Section 164(f) of the PR Code.