Annual Benefit Salary or Wages definition

Annual Benefit Salary or Wages means a Participant's regular salary or wages prior to any authorized Pre-Tax Contributions pursuant to Section 2.01 of the Plan or any authorized salary reduction amount pursuant to a plan established under Section 125 of the Code, including total commissions paid with respect to the preceding calendar year on the basis of sales, and incentive payments paid with respect to the preceding calendar year to production workers at Zimmer; but excluding any compensation for overtime, special remuneration or bonuses, as determined by the Employing Company from its payroll records. Notwithstanding the foregoing, for sales personnel of Zimmer who are paid on a strict
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Annual Benefit Salary or Wages means a Participant’s regular salary or wages prior to any authorized Pre-Tax Contributions and Catch-Up Contributions pursuant to Sections 2.1 and 3.3 of the Plan, or to the extent permitted under the PR Code, any authorized salary reduction amount pursuant to a plan established under Section 1022(l) of the PR Code, including cash bonuses or sales bonuses paid in cash, but excluding any special remuneration as determined by the Employing Company from its payroll records, commissions or compensation for overtime. Effective January 1, 2009, the amount of a Participant’s Annual Benefit Salary or Wages taken into account under the Plan shall not exceed $245,000, as adjusted by the Commissioner of the Internal Revenue Service for increases in the cost of living in accordance with Section 401(a)(17)(B) of the US Code.
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Annual Benefit Salary or Wages means a Participant’s regular salary or wages prior to any authorized Pre-Tax Contributions pursuant to Section 2.01 or any authorized salary reduction amount pursuant to a plan established under Section 125 or Section 132(f)(4) of the Code, including total commissions paid with respect to the Plan Year on the basis of sales, and incentive payments paid with respect to the preceding calendar year to production workers at the Employing Company; but excluding any compensation for overtime, special remuneration, piece rate or bonuses, as determined by the Employing Company from its payroll records. The amount of a Participant’s Annual Benefit Salary or Wages taken into account under the Plan shall not exceed $200,000, as adjusted by the Commissioner of the Internal Revenue Service for increases in the cost of living in accordance with Section 401(a)(17)(B) of the Code. If a Participant is a United States citizen employed by a foreign subsidiary corporation of an Employing Company and is deemed to be an Employee of such Employing Company, his Annual Benefit Salary or Wages from such foreign subsidiary to be taken into account, if determined in a currency other than United States dollars, shall, for the purposes of the Plan, be considered as having been converted to United States dollars at such rate of exchange as shall be determined by Zimmer from time to time. Amounts under Section 125 of the Code include any amount not available to a Participant in cash in lieu of group health coverage because the Participant is unable to certify that he or she has other health coverage. An amount will be treated as an amount under Section 125 only if the employer does not request or collect information regarding the Participant’s other health coverage as part of the enrollment process for the health plan.
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Examples of Annual Benefit Salary or Wages in a sentence

  • It replaces IAS 11 «Construction Contracts» and IAS 18 «Revenue» and the various existing interpretations, including IFRIC 15 «Real Estate Construction Contracts».

  • If a Participant is laid off, there shall be no Pre-Tax Contributions or After-Tax Contributions from his Annual Benefit Salary or Wages during the period of layoff.

  • No deduction shall be made until the Employee has authorized the Administrative Agent by Telephonic Notification to deduct from his Annual Benefit Salary or Wages the amount of the Pre-Tax Contribution or After-Tax Contribution to the Plan, specifying the exact percentage.

  • At the hearing we ruled that reference could be made to the arguments raised in the additional heads.

  • Amounts attributable to Pre-Tax Contributions or After-Tax Contributions from a Participant's Annual Benefit Salary or Wages, Qualified Nonelective Contributions, Rollover Contributions made by a Participant pursuant to Article 7 shall be fully vested in him at all times.

  • If the percentage of a Participant’s Annual Benefit Salary or Wages contributed on his behalf to the Plan as Pre-Tax Contributions for any payroll period is 6% or greater, then the Participant’s After-Tax Contribution, if any, for that payroll period shall be deemed a Supplementary Contribution, unless such Pre-Tax Contributions for any payroll period equal or exceed 6% solely due to a correction of an Administrative Error.

  • Pre-Tax Contributions and/or After-Tax Contributions will be made from such disability payments, and whenever Pre-Tax Contributions and/or After-Tax Contributions made from Annual Benefit Salary or Wages are referred to in the Plan, the reference shall include Pre-Tax Contributions and/or After-Tax Contributions from such disability payments.

  • When all suspensions are ended, unless the participation of the Participant has been terminated, the making of After-Tax Contributions and/or Pre-Tax Contributions from Annual Benefit Salary or Wages shall be resumed (if the Employee elects to resume) beginning with the Participant’s first payroll period commencing after all suspensions are ended, and Employing Company Contributions also shall be resumed.

  • Any Employing Company may, by action of its Board of Directors, suspend or terminate the making of Pre-Tax Contributions and/or After-Tax Contributions from Annual Benefit Salary or Wages of Participants in the employ of such Employing Company and of contributions by such Employing Company.

  • Georgetown Wet Weather Treatment Stationo Strategies for Supply Chain StabilityPURPOSE AND DISCLAIMER Purpose: Provide information on how current economic market conditions are impacting the Wastewater Treatment Division's (WTD’s) capital program and how WTD is attempting to mitigate and account for these influences in future forecasting.


More Definitions of Annual Benefit Salary or Wages

Annual Benefit Salary or Wages means a Participant's regular salary or wages, including total commissions paid during the preceding calendar year on the basis of sales, to employees of an Employing Company ; but excluding any compensation for overtime, special remuneration or bonuses, as determined by an Employing Company from its payroll records. The amount of a Participant's Annual Benefit Salary or Wages taken into account under the Plan shall not exceed $150,000, as adjusted by the Commissioner of the Internal Revenue Service for increases in the cost of living in accordance with the regulations promulgated under Section 401(a)(17)(B) of the U.S. Code.
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Annual Benefit Salary or Wages means a Participant’s regular salary or wages, prior to any authorized Pre-Tax Contributions pursuant to Section 2.01 or any authorized salary reduction amount pursuant to a plan established under Section 125 or Section 132(f)(4) of the U.S. Code, including total commissions paid during the Plan Year on the basis of sales, to employees of an Employing Company; but excluding any compensation for overtime, special remuneration or bonuses, as determined by an Employing Company from its payroll records. The amount of a Participant’s Annual Benefit Salary or Wages taken into account under the Plan shall not exceed $200,000 as adjusted by the Commissioner of the Internal Revenue Service for increases in the cost of living in accordance with Section 401(a)(17)(B) of the U.S. Code. Amounts under Section 125 of the U.S. Code include any amount not available to a Participant in cash in lieu of group health coverage because the Participant is unable to certify that he or she has other health coverage. An amount will be treated as an amount under Section 125 only if the employer does not request or collect information regarding the Participant’s other health coverage as part of the enrollment process for the health plan.
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Annual Benefit Salary or Wages means a Participant’s regular salary or wages prior to any authorized Pre-Tax Contributions and Catch-Up Contributions pursuant to Sections 2.1 and 3.3 of the Plan or any authorized salary reduction amount pursuant to a plan established under Section 125 of the Code, including cash bonuses or sales bonuses paid in cash, but excluding any remuneration reported for federal income tax purposes as special remuneration, as determined by the Employing Company from its payroll records. Annual Benefit Salary or Wages shall exclude any commissions or compensation for overtime.
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Related to Annual Benefit Salary or Wages

  • Annual Compensation means an amount equal to the greater of:

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • 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).

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Basic Compensation means Salary and Benefits.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Current Annual Compensation means the greater of:

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • 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.

  • Annual Cash Compensation means the sum of (I) the Employee's highest Base Salary (i.e., one year's salary at its highest rate), plus (II) the "Applicable Average Bonus" as defined in subparagraph 5(a)(i)(B) above.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Annual Salary means the salary given under this Part.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after the effective date of the NYSE listing standard, (ii) after the person became an Executive Officer and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association.

  • Deferral Year means each calendar year during which the Trustee makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;