Maximum Compensation Limitation Sample Clauses

Maximum Compensation Limitation. The Compensation of each Participant under the Plan for such Plan Year shall not exceed the first two hundred thousand dollars ($200,000) of such Participant's Compensation, provided, however, that such dollar limitation shall be adjusted to take into account any adjustments made by the Secretary of the Treasury pursuant to Section 415(d) of the Code. The rules of Section 414(q)(6) of the Code shall apply except that for purposes of determining Compensation treated as Compensation of a Participant, only Compensation paid to the Spouse and lineal descendants of the Participant (who have not attained age 19 before the close of the year) shall be considered. This limitation does not apply for purposes of applying Section 415(e) in Section 6.6 of the Plan under One Point Four/One Point Two Five Limitations. When the maximum compensation under Code Section 401(a)(17) applies and the compensation of any Participant is aggregated with other Participant(s) (per Code Section 414(q)), the aggregate limit shall be allocated among the participating family members based on the selection in the Adoption Agreement. This allocated aggregate limit will be used for allocating contributions and/or forfeitures.
Sample 1
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Related to Maximum Compensation Limitation

  • Maximum Compensation There is a maximum compensation for this Agreement and a separate maximum compensation for each Approved Service Order.

  • Term and Maximum Compensation 1.4.1. The term of this CONTRACT is for three (3) years, commencing upon Board of Supervisor approval, with a maximum allowable compensation of one million, five hundred thousand dollars ($1,500,000), with the option to renew for two (2) additional years, with Board approval; except as permitted in Paragraph 1.5 below.

  • Maximum Compensatory Time Employees may accumulate no more than one hundred and sixty (160) hours of compensatory time.

  • SALARY LIMITATION The Grantee cannot use the SAPT Block Grant to pay salaries in excess of Level I of the Federal Senior Executive pay scale.

  • Total Compensation Contractor shall include Total Compensation in XXX for each of its five most highly compensated Executives for the preceding fiscal year if:

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Requiring Minimum Compensation for Covered Employees a. Contractor agrees to comply fully with and be bound by all of the provisions of the Minimum Compensation Ordinance (MCO), as set forth in San Francisco Administrative Code Chapter 12P (Chapter 12P), including the remedies provided, and implementing guidelines and rules. The provisions of Sections 12P.5 and 12P.5.1 of Chapter 12P are incorporated herein by reference and made a part of this Agreement as though fully set forth. The text of the MCO is available on the web at xxx.xxxxx.xxx/xxxx/xxx. A partial listing of some of Contractor's obligations under the MCO is set forth in this Section. Contractor is required to comply with all the provisions of the MCO, irrespective of the listing of obligations in this Section.

  • Minimum Compensation Ordinance If Administrative Code Chapter 12P applies to this contract, Contractor shall pay covered employees no less than the minimum compensation required by San Francisco Administrative Code Chapter 12P, including a minimum hourly gross compensation, compensated time off, and uncompensated time off. Contractor is subject to the enforcement and penalty provisions in Chapter 12P. Information about and the text of the Chapter 12P is available on the web at xxxx://xxxxx.xxx/olse/mco. Contractor is required to comply with all of the applicable provisions of 12P, irrespective of the listing of obligations in this Section. By signing and executing this Agreement, Contractor certifies that it complies with Chapter 12P.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Lump Sum Compensation Lump sum computation refers to the method of payment under this Agreement for the professional services of the Consultant.

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