The Compensation definition

The Compensation of each participant taken into account in determining benefit accruals in any Plan Year beginning after December 31, 2001 shall not exceed $200,000, as adjusted for cost-of-living increases in accordance with Section 401(a)(17)(B) of the Code. The cost-of-living adjustment in effect for a calendar year applies to Compensation for the determination period that begins with or within that calendar year. Compensation means compensation during the Plan Year or such other consecutive 12-month period over which Compensation is otherwise determined under the Plan (determination period). For Participants who have an hour of service after December 31, 2001, for purposes of determining benefit accruals in a Plan Year beginning after December 31, 2001, Compensation for any prior determination period shall be limited to $200,000.
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Examples of The Compensation in a sentence

  • The Compensation being offered to ▇▇▇▇▇’s Broker shall be paid to ▇▇▇▇▇’s Broker at the closing of the purchase and sale contract as follows: [Select one.

  • The Compensation Cap shall be revised equitably only by written Contract Amendments executed by both parties in the event of a change the overall scope of the Engineering Services set forth in Exhibit B, as authorized by County.

  • The Compensation Cap is based upon all labor and non-labor costs estimated to be required in the performance of the Engineering Services provided for under this Contract.

  • The Compensation Table is subject to the terms and conditions set forth below in Subsections 10.4 through 10.7.

  • The Compensation shall also be subject to the approval of Company’s Board of Directors and/or Compensation Committees.

  • The Compensation Committee shall establish objective criteria to be used to determine the extent to which performance goals have been satisfied.

  • The Compensation Cap herein referenced may be adjusted for Additional Engineering Services requested and performed only if approved by a written Contract Amendment signed by both parties.

  • The Compensation is a gross amount that is subject to all local, State, Federal, and any other taxes and deductions as prescribed by law.

  • The Compensation Committee of the Board shall have full and plenary discretion with respect to any actions to be taken or determinations to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive.

  • The Compensation may be reviewed during the term of this Agreement by the Compensation Committee pursuant to its terms of reference after the closing date of the Company’s initial public offering.

Related to The Compensation

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

  • Basic Compensation means Salary and Benefits.

  • 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.

  • 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).

  • Compensation means all base straight time gross earnings and commissions, exclusive of payments for overtime, shift premium, incentive compensation, incentive payments, bonuses and other compensation.