Maximum Deferral definition
Examples of Maximum Deferral in a sentence
Maximum Deferral for 2020 = $19,500 457(b) Age 50+ Catch-Up Plan – Pre-Tax.
The Executive may increase (not to exceed the Maximum Deferral Percentage) or decrease the percentage of Compensation to be deferred annually by providing the Company a written form signed by the Executive following the format of Deferral Election Form.
Maximum Deferral for 2022 = $20,500 (OASIS Deduction Code DCTI4) 457(b) Age 50+ Catch-Up Plan – Pre-Tax.
If the Effective Date of this Agreement is not the first day of the Fiscal Year, the Employee shall be entitled to elect to defer a portion of the Maximum Deferral in such partial Fiscal Year, calculated as follows: The Maximum Deferral under Paragraph __ herein shall be multiplied by a fraction, the numerator of which is the number of full calendar months in the Fiscal Year from and after the Effective Date, and the denominator of which is twelve (12).
Each election submitted must specify a Maximum Deferral and a Deferral Percentage with respect to each category of Compensation to be deferred.
The Participant's Deferral Percentage will be applied to each payment of Compensation to which the Participant's deferral election applies, provided, that the aggregate of the Participant's Deferred -------- Amounts shall not exceed the Participant's Maximum Deferral.
If, at the end of the first Operating Year the Maximum Deferral has not been attained, then any unused portion Maximum Deferral will no longer be available to defer any future Concession Fees coming due after the expiration of the first Operating Year.
The Maximum Deferral Amount may be expressed as a fixed number and/or a percentage of Includible Compensation.
Notwithstanding anything to the contrary contained in this Plan, the Maximum Deferral Percentage applicable to the aggregate amount of the Base Salary which any Participant shall be permitted to defer his receipt of for any Plan Year, shall be equal to twenty-five percent (25%) of the Base Salary payable to the Participant.
The Deferred Concession Fee will be credited to the Licensee on a weekly basis by deducting from the Concession Fee otherwise due UCDP for each full week during the first Operating Year of the Initial Term that sum equal to ten percent (10%) of such weekly Gross Revenues for each full week during said first Operating Year until the earlier of (i) the date such credit deductions equal the Maximum Deferral or (ii) the expiration of the first Operating Year of the Initial Term.