Adjusted Compensation definition

Adjusted Compensation means the financial advisor incentive compensation, account executive incentive compensation or estate planning and business insurance specialist incentive compensation (in each case exclusive of base salary) earned by a Participant during the Performance Year, as a result of the Participant’s production credit level, or such other similar items of compensation as the Administrator shall designate as “Adjusted Compensation” for purposes of this Plan.

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Adjusted Compensation means the financial consultant incentive compensation, account executive incentive compensation or estate planning and business insurance specialist (or other similar titles established by National Sales Management) incentive compensation, in each case exclusive of base salary, earned by a Participant during the Fiscal Year ending in 1997, and payable after January 1, 1997, as a result of the Participant's production credit level, or such other similar items of compensation as the Administrator shall designate as "Adjusted Compensation" for purposes of this Plan.

Adjusted Compensation means Section 415 Compensation (as defined in Section 5.1(g)) plus elective or salary reduction amounts which are excludable from gross income under sections 125, 402(a)(8), 402(h), 403(b) or 132(f) of the Code.

Examples of Adjusted Compensation in a sentence

Adjusted Compensation is the amount which bears the same ratio to the $200,000 (or adjusted) limitation as the affected Participant's Compensation (without regard to the $200,000 Compensation limitation) bears to the combined Compensation of all the affected Participants in the family unit.
If the Employer's Plan is a Nonstandardized Plan, the Employer may elect to use a different method in determining the Adjusted Compensation of the affected Participants by specifying that method in an addendum to the Adoption Agreement, numbered Section 1.12.
If, for a Plan Year, the combined Compensation of the Employee and such family members who are Participants entitled to an allocation for that Plan Year exceeds the $200,000 (or adjusted) limitation, "Compensation" for each such Participant, for purposes of the contribution and allocation provisions of Article III, means his Adjusted Compensation.
If the combined Excess Compensation exceeds this limitation, the Advisory Committee will prorate the Excess Compensation limitation among the affected Participants in the family unit in proportion to each such individual's Adjusted Compensation minus his integration level.
If the Board determines that the Awarded Compensation exceeds the Adjusted Compensation, then the Board may demand from the Executive the recovery of any excess of the Awarded Compensation over the Adjusted Compensation, and the Executive shall immediately forfeit and/or repay, as applicable, any such amount.

More Definitions of Adjusted Compensation

Adjusted Compensation means the annual base salary of Executive then in effect, plus the bonus paid to Executive for the preceding calendar year, multiplied by 150%.

Adjusted Compensation means wages within the meaning of Section 3401(a) of the Code (without regard to any rules under Section 3401(a) that limit the remuneration included in wages based on the nature or location of the employment or services performed) received by an Employee during a Plan Year and all other payments of compensation to the Employee during the Plan Year for which the Employer is required to furnish a written statement under Sections 6041(d), 6051(a)(3) and 6052 of the Code.

Adjusted Compensation means a Participant's wages, salaries, fees for professional services, and other amounts received for personal services actually rendered as an Employee (including, but not limited to, commissions paid salesmen, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, tips, and bonuses) and any other items included under Treasury Regulation 1.415-2(d)(1). Adjusted Compensation shall include elective or salary reduction amounts which are excludable from gross income under Sections 125, 402(a)(8), 402(h) or 403(b) of the Code for Plan Years beginning prior to January 1, 1998. Adjusted Compensation shall exclude:

Adjusted Compensation means an amount equal to the member’s compensation for a plan year during the capping period as modified, if at all, pursuant to the applicable statutory capping provisions of the Class V Retirement Act.

Adjusted Compensation means the lesser of (A) the annual maximum compensation limit in effect under Section 401(a)(17) of the Code or (B) the Participant's "net" SARP Compensation after reduction by his Base Salary or Incentive Compensation deferrals under the Plan for the Pan Year (or the portion thereof following his SARP Entry Date).

Adjusted Compensation means the financial consultant incentive compensation, account executive incentive compensation, or estate planning and business insurance specialist incentive compensation, in each case exclusive of base salary, earned by a Participant during the Fiscal Year ending in 1995, and payable after January 1, 1995, as a result of the Participant's production credit level.

Adjusted Compensation means the financial consultant incentive compensation, account executive incentive compensation, or estate planning and business insurance specialist incentive compensation, in each case exclusive of base salary, earned by a Participant during the period from October 1, 1993 to December 31 1994, and payable after January 1, 1994, as a result of the Participant's production credit level.