Compensation Deferred definition

Compensation Deferred or “DEFERRED COMPENSATION” means the amount of Compensation deferred by a Participant during any taxable year pursuant to a Deferred Compensation Election. Effective January 1, 2012, Deferred Compensation may consist of before-tax contributions, Roth contributions, or both.

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Compensation Deferred is Compensation that the Participant or the Employer has deferred under this Plan. Compensation is Deferred Compensation if: (i) under the terms of the Plan and the relevant facts and circumstances, the Participant has a Legally Binding Right to Compensation during a Taxable Year that the Participant has not actually or constructively received and included in gross income; and (ii) pursuant to the Plan terms, the Compensation is payable to or on behalf of the Participant in a later Taxable Year. Deferred Compensation includes Separation Pay paid pursuant to a Separation Pay Arrangement except as otherwise described in Prop. Treas. Reg. §1.409A-1(b)(9) which excludes: (i) certain collectively bargained Separation Pay Arrangements; (ii) payments based upon an involuntary Separation from Service or pursuant to a Window Program where the payments do not exceed certain dollar limitations and are paid no later than December 31 of the second calendar year which follows the calendar year in which the Separation from Service occurs; and (iii) certain reimbursements, in-kind benefits, direct payments to the provider of goods and services on behalf of the Participant, or de minimis payments where the expenses incurred and the reimbursements are paid no later than December 31 of the second calendar year following the calendar year in which the Separation from Service occurs. Deferred Compensation for purposes of this Plan does not include: (i) Compensation payable after the last day of the Participant’s Taxable Year pursuant to the normal timing of the Employer’s payroll period as provided in Prop. Treas. Reg. §1.409A-1(b)(3); (ii) certain short-term deferrals as provided in Prop. Treas. Reg. §1.409A-1(b)(4); (iii) certain restricted property as described in Prop. Treas. Reg. §1.409A-1(b)(6); (iv) certain foreign arrangements as described in Prop. Treas. Reg. §1.409A-1(b)(8); and (v) any other amounts which under Applicable Guidance are not a Grandfathered Amount or a 409A Amount under Article VII.

Examples of Compensation Deferred in a sentence

If an initial payment election is continuing under Section 4.02(A)(3), such that it applies to Compensation Deferred in one or more Taxable Years beginning after the first Taxable Year to which the payment election applies, the payment election is revocable as to such future Taxable Years until the last permissible date under Section 4.02(A)(2) for making the election with regard to such future Taxable Year or Years.
This Section 2.02(E)(5) applies only once to Compensation Deferred such that the same amount may not again be treated as recurring part-year Compensation and subject to a second deferral election.
A Participant in his/her election form may limit the payment election to Compensation Deferred at the time of the election or also may apply the payment election to all future Deferred Compensation.
Further it is agreed that all Compensation, Prior Compensation, Deferred Compensation, and any amounts due from the shortfall of Transferred Accounts, will be paid to ClearPoint, or its designee directly from WFBC from first available funds pursuant to the Account Transfer Agreement between Staffchex and WFBC dated May 16, 2008, on a weekly basis.
Executive shall be entitled to select (and change, to the extent permitted under any applicable law) a beneficiary or beneficiaries to receive any Compensation, Deferred Compensation, or Benefits payable hereunder following the Executive’s death by giving PSB written notice thereof.
If the Plan is a restatement of a Plan which was in effect before January 1, 2009, as to pre-2009 Deferred Compensation (and Earnings thereon) which is a 409A Amount, the Plan preserves any 409A permissible payment elections under the Plan which elections are not available under the Plan as to Compensation Deferred after 2008, subject to any change payment election made as to such pre-2009 Deferred Compensation.
Deferred Non-Cash Compensation Deferred stock compensation for options granted to employees represents the difference between the exercise price of the option and the fair value of our common stock on the date of grant in accordance with Accounting Principles Board Opinion No. 25 and its related interpretations.
If ClearPoint fails to receive payment of Compensation, Deferred Percentage, Prior Compensation or any other amount due and payable in connection with this Amendment No 2 on any given Payment Date, it shall be deemed a material breach of this Agreement.

More Definitions of Compensation Deferred

Compensation Deferred or "Deferred Amount" means the amount of compensation deferred under each of the Defined Contribution Plans.