Qualifying Compensation definition
Examples of Qualifying Compensation in a sentence
Notwithstanding any other provision of the Plan, the sum of the Qualifying Compensation and Wage Dividend taken into account with respect to a Participant for a Plan Year will not exceed $150,000 (as adjusted by the Secretary of the Treasury or his delegate pursuant to section 401(a)(17) of the Code).
In no event will an election result in a contribution which is greater than 20% of the aggregate of the Participant's Wage Dividend and Qualifying Compensation which might otherwise be deferred under the Plan.
Policy on Qualifying Compensation for Deductibility The Company's policy with respect to the deductibility limit of Section 162(m) of the Internal Revenue Code generally is to preserve the federal income tax deductibility of compensation paid when it is appropriate and is in the best interests of the Company and its stockholders.
Elections to defer a percentage of Qualifying Compensation and/or future Wage Dividends may be made on forms provided by SIPCO, by telephone, or by any other method approved by SIPCO.
Qualifying Compensation will not include any amount received after the pay date for the last pay period in which an Employee ceases to be eligible to participate in the Plan.
Elective Contribution" will mean that portion of Qualifying Compensation and of any Wage Dividend which is deferred pursuant to an election by an eligible Employee or former Employee.
The purpose of the ▇▇▇▇▇▇▇ Kodak Employees' Savings and Investment Plan is to assist Employees of the Company in an orderly and systematic savings and investment program by giving them an opportunity to defer receipt of a portion of Qualifying Compensation and a portion or all of such Wage Dividends as may hereafter be declared, and to elect to have such deferred amounts invested by a Trustee in common shares of the Company, other securities, and/or an insurance company group annuity contract.
Only those amounts specifically described in subsections (a), (b), or (c) above will be included in Qualifying Compensation.