Common use of Maximum Benefit Clause in Contracts

Maximum Benefit. The maximum amount of reimbursement for each Participant shall be limited to the amount of the Participant's allocation to the program during the Plan Year not to exceed the maximum amount set forth in Item F(6) of the adoption agreement. For purpose of this Section IX, the phrase "earned income" shall mean wages, salaries, tips and other employee compensation, but only if such amounts are includible in gross income for the taxable year. A Participant's spouse who is physically or mentally incapable of self-care as described in Section 9.04(a)(ii) or a spouse who is a full-time student within the meaning of Code Section 21(e)(7) shall be deemed to have earned income for each month in which such spouse is so disabled (or a full-time student). The amount of such deemed earned income shall be $250 per month in the case of one Dependent and $500 per month in the case of two or more Dependents.

Maximum Benefit. The maximum Maximum amount of reimbursement for each Participant shall be limited to the amount of the Participant's ’s allocation to the program during the Plan Year Year, not to exceed the maximum amount set forth in Item F(6) of the adoption agreementAdoption Agreement. For purpose of this Section IX, the phrase "“earned income" ” shall mean (i) wages, salaries, tips and any other compensation for services as an employee compensation, but only if such amounts are includible in gross income for the taxable yearand (ii) net earnings from self-employment. A Participant's ’s spouse who is physically or mentally incapable of self-care as described in Section 9.04(a)(ii) or a spouse who is a full-time student within the meaning of Code Section 21(e)(7) shall be deemed to have earned income for each month in which such spouse is so disabled (or a full-time student). The amount of such deemed earned income shall be $250 per month in the case of one Dependent and $500 per month in the case of two or more Dependents.