Certified Earnings definition

Certified Earnings means, except as otherwise provided in an Appendix hereto, the basic cash remuneration paid to an Eligible Employee for services rendered to the Employer, determined prior to any pre-tax contributions under a "qualified cash or deferred arrangement" (as defined under Section 401(k) of the Code and its applicable regulations) or under a "cafeteria plan" (as defined under Section 125 of the Code and its applicable regulations), including salary, hourly wages, commissions, overtime pay, and bonus pay, but excluding (a) expense allowances or reimbursements, payments or contributions to or for the benefit of the Participant under this Plan or any other employee benefit plan, deferred compensation payments under any deferred compensation plan, merchandise discounts or benefits in the form or use of property, except to
Sample 1
Certified Earnings means, except as otherwise provided in an Appendix hereto, the basic cash remuneration paid to an Eligible Employee for services rendered to the Employer, determined prior to any pre-tax contributions under a "qualified cash or deferred arrangement" (as defined under Section 401(k) of the Code and its applicable
Sample 1
Certified Earnings means the total compensation paid to an Active Participant by a Participating Employer during that portion of the Plan Year in which he/she is an Active Participant, subject to the following: 2 Page 3 (a) Specific Inclusions. Certified Earnings includes: (1) Before-Tax Contributions to this Plan (and any contributions made by pay reduction to any other qualified cash or deferred arrangement that forms part of a Plan maintained by the Company or an Affiliate), and contributions made by pay reduction to the ADM Flexible Spending Plan (or any other cafeteria plan (as defined in Code 125) maintained by the Company or an Affiliate). (2) Overtime pay, vacation pay, holiday pay, pay for jury duty and lump-sum payments in lieu of pay increases. (3) Sick pay or short-term disability payments paid directly by a Participating Employer (not including any amounts paid by an insurance carrier under an insured disability program). (b) Specified Exclusions. Certified Earnings does not include bonuses, expense allowances or reimbursements, severance pay, payments or contributions to or for the benefit of an individual under any other deferred compensation, pension, profit sharing, insurance, or other employee benefit plan (except as expressly provided above), stock options, stock appreciation rights or cash payments in lieu thereof, merchandise or service discounts, non-cash employee awards, earnings payable in a form other than cash, or other fringe benefits. (c) Special Rule for Foreign Assignments. Certified Earnings for persons working outside the United States is limited to base compensation as so characterized on the payroll system of the Company and does not include any extra or added compensation due to the foreign assignment (such as relocation allowance, education allowance, or other reimbursements or allowances) and, in the case of an Employee who is working for an eligible foreign affiliate, will not include any amount paid by the Company that is the equivalent of the tax imposed under Code 3101. (d) Special Rule for Commissions. Certified Earnings include commissions when paid and not when earned. (e) Code Section 401(a)(17) Limit. Certified Earnings do not include any amounts in excess of the limit in effect under Code 401(a)(17) for any Plan Year. 2.1.8 "Code" means the Internal Revenue Code of 1986, as amended. 2.1.9 "Company" means Archer Daniels Midland Company.
Sample 1

Examples of Certified Earnings in a sentence

  • A Participant shall not be considered as having failed to make an election if the Participant affirmatively elects to reduce the Participant’s Certified Earnings by zero percent (0%).

  • The Company may, for purposes of determining amounts to be withheld from any payroll period, apply the Reduction Percentage against Certified Earnings which is paid to the Participant during the Plan Year without regard to the compensation limits as adjusted under Code Section 401(a)(17)(B); provided, however, that in no event shall the total Reduction Percentage exceed seventy-five percent (75%) of the Participant’s Certified Earnings, as adjusted for the Plan Year.

  • Subject to the limitations of Sections 5.1.5, 5.5 and 5.6, the Company or the Participating Employer, as the case may be, shall contribute to the Trust for each Plan Year an amount equal to the amount deducted and withheld from Participants’ Certified Earnings during such Plan Year as Elective Deferrals made pursuant to a Salary Reduction Agreement as provided in Section 5.1.2. All Elective Deferrals shall be deemed to be Participating Employer contributions.

  • All amounts shall be expressed as whole percentages of Certified Earnings for each payroll period as set forth by the Participant in such Salary Reduction Agreement (hereinafter referred to as the “Reduction Percentage”) which is at least two percent (2%) but which does not exceed seventy-five percent (75%) of the Participant’s Certified Earnings for any such payroll period.

  • The Personal Investment Account Contribution shall be equal to five percent (5%) of the Participant’s Certified Earnings for the Plan Year.

  • The terms of such Salary Reduction Agreement shall provide for a reduction of the Participant’s Certified Earnings for each payroll period during the Plan Year (or portion for which the Salary Reduction Agreement is effective) and for the reduction to be contributed by the Participating Employer to the Participant’s 401(k) Employee Contribution Account.

  • An Eligible Employee who does not make an election pursuant to a Salary Reduction Agreement within the sixty (60) day period that begins on the date the Employee becomes a Participant in the Plan, shall be automatically enrolled to contribute three percent (3%) of Certified Earnings as an Elective Deferral.

  • After such termination no Employee shall become a Participant, and no contributions shall be made attributable to Certified Earnings after the termination.

  • Effective as of the Closing Date, Employees of Physio-Control who participated in the Plan as of the Closing Date (“Physio-Control Participants”) ceased to be Qualified Employees with respect to the Plan, and accordingly ceased to receive Certified Earnings under the Plan with respect to any services performed for Physio-Control on or after the Closing Date.

  • Duralam Employees are eligible to make After Tax Deposits in respect to Certified Earnings earned on and after December 17, 2001.


More Definitions of Certified Earnings

Certified Earnings means the total compensation paid to an Active Participant by a Participating Employer during that portion of the Plan Year in which he/she is an Active Participant, subject to the following:
Sample 1
Certified Earnings means the Employee's total base salary from the Company before any reduction pursuant to this Agreement or pursuant to a plan meeting the requirements of Sections 125 or 401(k) of the Internal Revenue Code.
Sample 1

Related to Certified Earnings

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Core Earnings means, with respect to any Person for any period, net income determined in accordance with GAAP of such Person and its consolidated subsidiaries and excluding (but only to the extent included in determining net income for such period) (i) non-cash equity compensation expense, (ii) the expenses incurred in connection with the formation of the Sponsor and the offering in connection therewith, including the initial underwriting discounts and commissions, (iii) acquisition costs from successful acquisitions (other than acquisitions made in the ordinary course of business), (iv) real property depreciation and amortization, (v) any unrealized gains or losses or other similar non-cash items that are included in net income for the current quarter, regardless of whether such items are included in other comprehensive income or loss, (vi) extraordinary or non-recurring gains or losses and (vii) one-time expenses, charges or gains relating to changes in GAAP; provided that Core Earnings shall, solely with respect to the Core Earnings attributable to any Non Wholly-Owned Consolidated Affiliate, only include the Consolidated Group Pro Rata Share of such attributable amount.

  • Retained Earnings means the retained earnings of an FHLBank calculated pursuant to GAAP.

  • Weekly Earnings means, in the case of a day or shift worker, 40 hours x his regular rate;

  • net earnings means such earnings as are calculated in accordance with paragraph 42 or 52, as the case may be;

  • Excess Earnings means, with respect to Mortgage Loans held in any subaccount of the Acquisition Account or the Loan Recycling Account established in connection with a Series of Tax- exempt Bonds, the "excess earnings," as defined in Treasury Regulations § 1.148-10T, with respect thereto.

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Gross-Up Amount has the meaning set forth in definition of “Make Whole Amount.”

  • Payoff Earnings For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Payoff Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Average Actual Deferral Percentage means the average (expressed as a percentage) of the Actual Deferral Percentages of the Eligible Participants in a group.

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Final Average Earnings means the earnings used to determine benefits under this Plan as further described in Article 7.

  • Gross-Up Payment shall have the meaning set forth in Section 6.2 hereof.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • Average final compensation means the average annual creditable compensation of a member during

  • Consolidated Net Earnings means, for any period, the net income (loss) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Base Period Income Base Period Income" is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.