capped salary definition

capped salary means salary that is or was compensation within the meaning of the tax rules, subject however to such limitation as is or was necessary to ensure that the benefit accrual under the tax rules for the taxation year does not or did not exceed the defined benefit limit fixed by the tax rules for that year;
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capped salary. A faculty member who is capped at the last step of a Level for more than two (2) years may advance on the pay scale by, at most, one (1) level and two (2) steps.
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capped salary means the capped salary under and within the meaning of the Registered Plan;
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Related to capped salary

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

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