Net Wages definition

Net Wages or “Wages” or “Salary” means income by way of earnings, interest, or rent after deducting the payment of mandatory taxes and deductions, family insurance premiums, and voluntary retirement deductions up to five percent (5%) of gross wages.
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Net Wages means 80% of Dr. Palmini’s wages after the following deductions: (a) all normal monthly expenses of Dr. Palmini, including, rent, medical expenses, child support and maintenance, child visitation costs, student loans, car insurance, utilities, personal expenses, estimated tax payments, meals, groceries, and professional fees (estimated to be $182,825 per annum); (b) normal payroll deductions for, among other things, income tax withholdings, health insurance, FICA, retirement contributions, etc. (estimated $117,000 per annum); (c) payment to the IRS on account of its Priority Tax Claim (estimated $1,850 per annum); (d) payment to Snap-On Credit for its secured claim (estimated $3,321 per annum).
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Net Wages means an employee’s wages after deductions are taken out from an employee’s gross wages.
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Examples of Net Wages in a sentence

  • These monies are added into the Wages above for tax purposes only and should not be included in Net Wages but rather forwarded to Trust Funds.

  • During the term of this Agreement, and any extensions thereof, each individual Employer agrees to deduct from the Taxable Net Wages of all employees, covered by this Agreement, Dues Check-Off in the amounts specified in the attached Wage Schedule A.

  • Each employee shall be given a detailed record of his earnings showing Total Hours Worked, Rates of Pay, Gross Wages, Allowance Contributions, and all deductions and Net Wages, all in accordance with Federal and Provincial Government Regulations.

  • In the event a Participant elects not to sell shares of Common Stock he has accepted under this Plan, such shares shall be further held in escrow for the period necessary, if any for the Participant to earn the Net Wages and/or Benefits which such shares are to pay for by rendering services as a Company employee in accordance with the Participant's terms and conditions of employment.

  • In the event a Participant for any reason fails to earn Net Wages and/or Benefits for which shares of Common Stock may have been issued, such Participant agrees and acknowledges that such shares (or Net Proceeds, if previously sold) shall be automatically assigned and shall revert to the Company without any action by such Participant, in the manner more particularly described in paragraph 1(h) of this Plan.

  • Column 11 – Total Net Wages Paid: Enter total net wages paid each employee on the project for the referenced payroll period.

  • The number of shares of Common Stock issuable to a plan Participant shall be determined by dividing such Plan Participant's Net Wages and/or Benefits by the Purchase Price Per Share in effect at the time of issuance.

  • Participants accepting shares of Common Stock under the Plan in Payment of Net Wages and/or Benefits may not withdraw from, terminate or rescind such acceptance of shares of Common Stock once a Stock Payment Agreement has been executed.

  • A Plan Participant may sell all or a portion of the Escrowed Shares, subject to the condition that such Plan Participant shall place the proceeds of any such sale, net of broker commissions and similar transaction fees and expenses ("Net Proceeds") in escrow with the Company until such Participant has earned the Net Wages and/or Benefits which his or her services as an employee entitle him or her under the terms of his or her employment ("Escrowed Funds").

  • As the Plan Participant renders services and earns Net Wages and/or Benefits as an employee of the Company, the Company as escrow agent shall release and deliver Escrowed Funds or Escrowed Shares, as the case may be, to the Plan Participant in accordance with the Company's usual pay periods.

Related to Net Wages

  • Applicable Wages means the basic straight time wages for all hours worked, including:

  • 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.

  • Wages is defined as the amount of money the employee would have otherwise received over a period of absence, excluding overtime.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • 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.

  • Qualified wages means wages you paid during the one-year period beginning with the date an ex-offender begins working for you. Only wages that are subject to unemployment tax under IRC Section 3306 qualify. This includes amounts in excess of the maximum taxable wage. Wages paid during any period for which you received federally funded payments for on-the-job training for the ex-offender do not qualify.

  • 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.

  • 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;

  • Contribution Percentage Amounts means the sum of the Employee Contributions, Matching Contributions, and Qualified Matching Contributions (to the extent not taken into account for purposes of the ADP test) made under the Plan on behalf of the participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions, or Excess Aggregate Contributions. If so elected in the adoption agreement the Employer may include Qualified Nonelective Contributions in the Contribution Percentage Amounts. The Employer also may elect to use Elective Deferrals in the Contribution Percentage Amounts so long as the ADP test is met before the Elective Deferrals are used in the ACP test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the ACP test.

  • Contribution Percentage means the percentage obtained by dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by (y) the aggregate Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or any guaranteed obligations arising under any guaranty of any Permitted Additional Indebtedness) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 17 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 18, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 18, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the Termination Date. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

  • Contribution Rate means, in a reserve study as described in RCW 64.34.380, the amount contributed to the reserve account so that the association will have cash reserves to pay major maintenance, repair, or replacement costs without the need of a special assessment.

  • Moderate-income household means a household with a total gross annual household income in excess of 50 percent but less than 80 percent of the median household income.

  • 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.

  • Employee Contribution means any contribution made to the Plan by or on behalf of a Participant that is included in the Participant's gross income in the year in which made and that is maintained under a separate account to which earnings and losses are allocated.

  • Nonhighly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Actual Contribution Percentage means, with respect to a Plan Year, the ratio (expressed as a percentage) of the sum of the amount of (a) Matching Contributions, (b) After-Tax Contributions, (c) Qualified Nonelective ESOP Contributions, and (d) Tax Deferred Contributions recharacterized as After-Tax Contributions, made on behalf of the Participant for the Plan Year to the Participant’s Testing Compensation for the Plan Year.

  • Fair Wages means wages whether for time or piece work notified at the time of inviting tenders for the work and where such wages prescribed by the government of India in the ministry of labour and employment vide Sl.No. 1917 published in the gazette of India, extraordinary part - ii section (3) sub-section (ii) dated 19-5-1969.

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Total wages , in relation to any year, means the total of the ordinary and additional wages in that year received by an employee;

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Wage means the amount of money paid or payable to an employee in respect of ordinary hours of work or, if they are shorter, the hours an employee normally works in a day or week;

  • Disposable earnings means that part of the earnings of an

  • 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.

  • relevant minimum wage means the minimum wage and includes any incremental adjustment prescribed in this award for the class of work for which an employee is engaged

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include: