Total Earnings. Total compensation paid by an Employer or Affiliate to an individual reportable on Form W-2, determined before giving effect to any Contribution Agreement or any other cash or deferred arrangement described in section 401(k) of the Code or to any similar reduction agreement pursuant to any cafeteria plan (within the meaning of section 125 of the Code) or for purposes of receiving qualified transportation fringe benefits (as described in section 132(f)(4) of the Code). Total Earnings shall exclude salary continuation or other amounts paid under arrangements entered into on or after December 1, 2006, or under prior arrangements if paid after March 31, 2007, that are effectively in the nature of severance pay. For purposes of Sections 3.3.2 and 3.4.2, Total Earnings for any Plan Year may, in the discretion of the Committee, and effective January 1, 2006, shall be limited to such compensation paid by an Employer or Affiliate to an individual during the period that he is a Member for service as an Eligible Employee. Notwithstanding the foregoing, effective for amounts paid on or after January 1, 2008, Total Earnings shall not include severance pay or parachute payments excludable from Compensation under Section 1.13 above, or other payments or taxable benefits provided after termination of employment unless for services rendered prior to termination and paid either within the calendar year of termination or no later than 2-1/2 months after the date of termination (but excluding post-severance payments in the nature of unused accrued sick, vacation or other bona fide leave payments). Total Earnings taken into account for any Member for any Plan Year shall not exceed the Compensation Limit. If the period for determining Total Earnings is a short plan year (i.e., shorter than 12 months), the annual Total Earnings limit is an amount equal to the otherwise applicable annual Total Earnings limit multiplied by the fraction, the numerator of which is the number of months in the short plan year, and the denominator of which is 12.
Total Earnings. Total compensation paid by an Employer or Affiliate to an individual, determined before giving effect to any Contribution Agreement under this Plan (or any other cash or deferred arrangement described in section 401(k) of the Code) or to any similar reduction agreement pursuant to any cafeteria plan (within the meaning of section 125 of the Code) or, effective January 1, 2001, for purposes of receiving qualified transportation fringe benefits (as described in section 132(f)(4) of the Code). For purposes of Sections 3.3.2 and 3.4.2, Total Earnings for any Plan Year may, in the discretion of the Administrator, be limited to such compensation paid by an Employer or Affiliate to an individual during the period that he is a Member for service as an Eligible Employee. Total Earnings taken into account for any Member for any Plan Year beginning on or after January 1, 1994, shall not exceed one hundred fifty thousand dollars ($150,000) (as adjusted from time to time for increases in the cost of living in accordance with section 401(a)(17) of the Code). If the period for determining Total Earnings is a short plan year (i.e., shorter than 12 months), the annual Total Earnings limit is an amount equal to the otherwise applicable annual Total Earnings limit multiplied by the fraction, the numerator of which is the number of months in the short plan year, and the denominator of which is 12.
Total Earnings. Total compensation paid by an Employer or Affiliate to an individual reportable on Form W-2, determined before giving effect to any Contribution Agreement under this Plan (or any other cash or deferred arrangement described in section 401(k) of the Code) or to any similar reduction agreement pursuant to any cafeteria plan (within the meaning of section 125 of the Code) or, effective January 1, 2001, for purposes of receiving qualified transportation fringe benefits (as described in section 132(f)(4) of the Code). Total Earnings shall exclude salary continuation or other amounts paid under arrangements entered into on or after December 1, 2006, or under prior arrangements if paid after March 31, 2007, that are effectively in the nature of severance pay. For purposes of Sections 3.3.2 and 3.4.2, Total Earnings for any Plan Year may, in the discretion of the Committee, and effective January 1, 2006, shall be limited to such compensation paid by an Employer or Affiliate to an individual during the period that he is a Member for service as an Eligible Employee. Total Earnings taken into account for any Member for any Plan Year beginning on or after January 1, 2002, shall not exceed two hundred thousand dollars ($200,000) (as adjusted from time to time for increases in the cost of living in accordance with section 401(a)(17) of the Code). If the period for determining Total Earnings is a short plan year (i.e., shorter than 12 months), the annual Total Earnings limit is an amount equal to the otherwise applicable annual Total Earnings limit multiplied by the fraction, the numerator of which is the number of months in the short plan year, and the denominator of which is 12.
