Reduced Compensation definition

Reduced Compensation means Compensation reduced by any Salary Deferral Contributions made by the Participant and also reduced by any contributions made by salary reduction to a plan or program established in accordance with Sections 125, 129 or 132(f) of the Code.
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Examples of Reduced Compensation in a sentence

  • Reduced Compensation: Should the inspection show the item(s) remain in non-compliance, the Contractor's monthly compensation will be reduced in accordance with the Daily Compensation Reduction Schedule included under Compensation.

  • Reduced Compensation: Should the follow-up inspection show the item(s) remain in non-compliance, the Contractor's monthly compensation will be reduced in accordance with the Standard Compensation Reduction Schedule included under Compensation.

  • Nothing herein shall prohibit CARRIER from offering from time to time rates, promotions or additional service packages with reduced compensation for AGENT (Reduced Compensation Plans).

  • If a Continuing Employee shall accept the Reduced Compensation Offer, the rate of compensation described therein shall not take effect earlier than 28 days following the date the Reduced Compensation Offer is provided to the Continuing Employee (the “ Reduced Compensation Effective Date ”).

  • If AGENT fails to agree to such change in compensation, AGENT shall not be paid any compensation for any Subscriber enrolled on a Reduced Compensation Plan, and the amount of any compensation paid for any Subscriber so enrolled, or who switches to a Reduced Compensation Plan within ninety (90) days of initial enrollment, shall be deducted from future compensation payable to AGENT, if any, and if none, shall be paid by AGENT to CARRIER on demand.

  • A number of secondary acts of the EEC regulate specific aspects of trade defence instruments, including confidentiality matters, internal decision-making procedures, and materials for domestic producers aiming to facilitate the preparation of complaints.

  • A Reduced Compensation Plan Participant who defers 5% of Compensation had Participant not elected voluntary phased retirement or sabbatical shall receive 9% of unreduced Compensation.

  • Helen Pidd, Jailed for False Retraction, Rape Victim to Challenge Reduced Compensation, GUARDIAN (May 30, 2016) [hereinafter Jailed for False Retraction], https://www.theguardian.com/ uk-news/2016/may/30/jailed-for-false-retraction-rape-victim-sarah-challenge-reduced-compensation (noting that the judge who authorized her release from prison replaced her custodial sentence with a two-year supervision order, so she was still being viewed as a criminal); see also I Accused my Husband of Rape, supra note 2.

  • For Reduced Compensation Plan Participants, 9% of Compensation per Plan Year, had Participant not elected voluntary phased retirement or sabbatical.

  • Notwithstanding the above, the total amount of Salary Deferral Contributions, Matching Employer Contributions, Supplemental Matching Employer Contributions and Discretionary Employer Contributions for any Plan Year shall not exceed an amount equal to fifteen percent (15%) (or such greater percentage as may be permitted under Section 404(a)(3) of the Code) of the total Reduced Compensation of all Participants for such Plan Year.

Related to Reduced Compensation

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • 415 Compensation means:

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Basic Compensation means Salary and Benefits.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Annual Compensation means an amount equal to the greater of:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

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

  • Final compensation of a member means:

  • Section 415 Compensation means:

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 11 of the Plan.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Incentive-Based Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).