Examples of 414(q) Compensation in a sentence
For purposes of subsection (a) above, Section 414(q) Compensation shall include (A) any elective deferral (as defined in Section 402(g)(3) of the Code, and (B) any amount which is contributed or deferred by the Employer at the election of the Employee and which is not includable in the gross income of the Employee by reason of Section 125, 132(f)(4) or 457 of the Code.
Employees who were in the group of the one hundred Employees who received the most 414(q) Compensation from the Employer during the determination year and are also described in any of paragraphs (b), (c) or (d) above when those paragraphs are modified to substitute the determination year for the look-back year.
A former Employee who separated from service prior to 1987 shall be treated as Highly Compensated Employee only if during the separation year, the year preceding the separation year, the last year ending before the Employee's 55th birthday, or any year after the Employee attained age 55, the Employee was a five percent owner or received 414(q) Compensation in excess of $50,000.00.
The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the top-paid group, the top one-hundred (100) Employees, the number of Employees treated as officers and the 414(q) Compensation that is considered, will be made in accordance with Section 414(q) of the Code and the regulations thereunder, as applicable to the subject Determination Year.
The term "Highly Compensated Employee" also includes an Employee who is both described in the preceding portion of this Paragraph (c) if the term "Determination Year" is substituted for "Look-Back Year" and one of the one hundred (100) Employees who received the most 414(q) Compensation from the Employer and Affiliated Companies during the Determination Year.
For purposes of this Section, "414(q) Compensation" shall mean compensation within the meaning of Treasury Regulation section 1.415-2(d)(10).
If none of the officers of the Employer meet the compensation requirement of the preceding sentence, then the most highly compensated officer will be treated as a Highly Compensated Employee, regardless of the level of _414(q) Compensation.
If an Employee is, during a determination year or look-back year, a Family Member of either a 5 percent owner who is an active or former employee or a Highly Compensated Employee who is one of the 10 most highly compensated employees ranked on the basis of _414(q) Compensation paid by the Employer during such year, then the Family Member and the 5 percent owner or top-ten highly compensated employee shall be aggregated.
If no officer has satisfied the 414(q) Compensation requirement of Paragraph (c)(4) above, during either a Determination Year or Look-Back Year, the highest paid officer for such year shall be treated as a Highly Compensated Employee.
Shashi Agarwal, Director of the Company, no other Director or Key Managerial Personnel of the Company and their relatives is concerned or interested, financial or otherwise, in the passing of the above resolution(s) as set out in Item No. 8 of the notice.