Regular Pay. 415 Compensation shall include regular pay after severance of employment if: (1) The payment is regular compensation for services during the participant's regular working hours, or compensation for services outside the participant's regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and (2) The payment would have been paid to the participant prior to a severance from employment if the participant had continued in employment with the Employer.
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Samples: 401(k) Profit Sharing Plan (Nci Building Systems Inc), 401(k) Plan Adoption Agreement (Caterpillar Inc), Adoption Agreement (American Physicians Service Group Inc)
Regular Pay. 415 Compensation shall include regular pay after severance of employment if:
(1) The payment is regular compensation for services during the participant's ’s regular working hours, or compensation for services outside the participant's ’s regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and
(2) The payment would have been paid to the participant prior to a severance from employment if the participant had continued in employment with the Employer.
Appears in 2 contracts
Samples: 401(k) Plan Adoption Agreement (Knowles Corp), 401(k) Profit Sharing Plan Adoption Agreement (Simpson Manufacturing Co Inc /Ca/)
Regular Pay. Section 415 Compensation shall include regular pay after severance of employment if:
(1) The the payment is regular compensation for services during the participant's Participant’s regular working hours, or compensation for services outside the participant's Participant’s regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and
(2) The the payment would have been paid to the participant Participant prior to a severance from employment if the participant Participant had continued in employment with the Employer.
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Samples: 401(k) Savings and Retirement Plan (Castle a M & Co)
Regular Pay. 415 Compensation shall include regular pay after severance of employment (to the extent otherwise included in the definition of Compensation) if:
(1i) The payment is regular compensation for services during the participantParticipant's regular working hours, or compensation for services outside the participantParticipant's regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and
(2ii) The payment would have been paid to the participant Participant prior to a severance from employment if the participant Participant had continued in employment with the Employer.
Appears in 1 contract
Regular Pay. 415 Compensation shall include regular pay after severance of employment (to the extent otherwise included in the definition of 415 Compensation) if:
(1i) The payment is regular compensation for services during the participantParticipant's regular working hours, or compensation for services outside the participantParticipant's regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and
(2ii) The payment would have been paid to the participant Participant prior to a severance from employment if the participant Participant had continued in employment with the Employer.
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