FLEXIBLE PAY definition
FLEXIBLE PAY means the amount of a Participant's compensation that, pursuant to Section 4.1, is applied on behalf of the Participant to pay his Premiums for Pre-Tax Benefits or that (to the extent not otherwise applied) he may elect to receive as additional cash compensation. For each Participation Year, the maximum amount of Flexible Pay available to any Participant for application to his Premiums under the Plan shall be the sum of the costs of all Pre-Tax Benefits available to any Participant under the Plan.