Common use of General Definition Clause in Contracts

General Definition. For purposes of an Employee’s Contribution Agreement, “Benefitable Compensation” means all cash compensation for services to the Employer, including salary, wages, fees, commissions, bonuses and overtime pay, that is includible in the Employee’s gross income for the calendar year and amounts that would be cash compensation includible in gross income but for a reduction election under a cafeteria plan, a qualified transportation fringe benefit plan, a 401(k) plan, a 403(b) plan, or a 457(b) plan, subject to the elections in Items 2.3(b) and (c) below.