Nondeductible Compensation definition

Nondeductible Compensation means Base Compensation or Bonus Compensation that in the year deferred is nondeductible by the Company and its affiliated companies pursuant to Code Section 162(m).
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Examples of Nondeductible Compensation in a sentence

  • This section shall not apply to: (1) Nondeductible Compensation; (2) death distributions pursuant to Section 6.9; (2) Disability distributions pursuant to Section 6.8; (3) in-service distributions pursuant to Section 6.6; (4) Hardship Distributions pursuant to Section 6.6; (5) Change in Control distributions; and (6) distributions made with respect to compensation deferred for the 2002 Plan Year, including earnings thereon.

  • After a Participant's election pursuant to Section 8(a) and (b) relating to the portion of the deferred amounts which are credited to the cash subaccount and to the stock unit subaccount, a Participant may not thereafter change the portion of such Participant's Deferred Compensation Account and Deferred Nondeductible Compensation Account which is credited to the cash subaccount and to the stock unit subaccount.

  • Each Participant shall at the time of making the election provided in Section 6 of the Plan, (i) elect the portion of such Participant's Nondeductible Compensation Amount which shall be credited to the cash subaccount and to the stock unit subaccount, and (ii) select from a list of investment vehicles described by the Committee the particular vehicle to be used as the measure of changes in the value ("Index") of amounts credited to the cash subaccount.

  • Richard He holds his interests in shares through PAA Energy LLC of which he is sole director and is a 100% shareholder; and Antlers Energy Corporation of which he is a director and 70% shareholder.

  • The Participant may elect to receive payment of the Deferred Nondeductible Compensation Account either (i) in a lump sum, or (ii) in such number (not to exceed 120) of approximately equal monthly installments as the Participant shall elect.

  • During the period that amounts are deferred under the Plan, all Deferred Compensation Accounts and Deferred Nondeductible Compensation Accounts shall be considered as general assets of the Company for use as it deems necessary or appropriate, and will be subject to the claims of the Company's creditors.

  • The CONTRACTOR will provide an annual spring clean-up to take place during the month of May.

  • The Deferred Compensation Account and the Deferred Nondeductible Compensation Account shall consist of a cash subaccount and a stock unit subaccount.

  • The balance of the Deferred Compensation Account and the Deferred Nondeductible Compensation Account as of any date is the aggregate of the cash subaccount and the stock subaccount within such Deferred Compensation Account and the Deferred Nondeductible Compensation Account as of such date.

  • The Committee shall make appropriate reports to the Participant concerning the status of such Participant's Deferred Compensation Account and Deferred Nondeductible Compensation Account.

Related to Nondeductible Compensation

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Eligible Compensation means, with respect to each Participant for each pay period, the full salary and wages paid to such Participant by the Company or a Participating Subsidiary, including commissions, bonuses (to the extent not excluded below), overtime pay and shift differentials. Except as otherwise determined by the Committee, “Eligible Compensation” does not include

  • 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.

  • Final compensation of a member means:

  • Earnable compensation means the full rate of the

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

  • 415 Compensation means:

  • Creditable compensation means the full compensation payable annually to an employee working

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

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

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

  • 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).

  • Reasonable compensation means, with respect to a regularly employed officer or employee of any person, compensation that is consistent with the normal compensation for such officer or employee for work that is not furnished to, not funded by, or not furnished in cooperation with the Federal Government.

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • 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.

  • Average final compensation means the average annual creditable compensation of a member during

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Basic Compensation means Salary and Benefits.

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

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

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

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Section 415 Compensation means:

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.