Compensation Limit. Notwithstanding Amendment Section 4.2 or any election in Amendment Section 2.2, if the Plan is a 401(k) plan, then participants may not make elective deferrals with respect to amounts that are not 415 Compensation. However, for this purpose, 415 Compensation is not limited to the annual compensation limit of Code §401(a)(17).
Compensation Limit. For Plan Years beginning after December 31, 2001, the Annual Compensation of each Participant taken into account in determining all benefits provided under the Plan shall not exceed $200,000, as adjusted for cost-of-living increases in accordance with Code Section 401(a)(17)(B). “Annual Compensation” means Compensation during the Plan Year or such other consecutive 12-month period over which Compensation is otherwise determined under the Plan (the determination period). The cost-of-living adjustment in effect for a calendar year applies to Annual Compensation for the determination period that begins with or within such calendar year.
Compensation Limit. The compensation limit is that expressed in the Schedule of Benefits.
Compensation Limit. In no event shall the aggregate amount of fees to be paid to Consultant under Section 2.1(b) of this Agreement exceed $240,000.
Compensation Limit. In general, your total regular XXX contributions for a year (both to Xxxx and traditional IRAs) cannot exceed the amount of your compensation earned during that year. If you file a joint federal income tax return and earn less compensation than your spouse, you can treat as compensation the joint compensation of you and your spouse, less the XXX contributions made by your spouse. Your compensation for a year is the total taxable income you receive during the year for performing services or that you receive as taxable alimony or separate maintenance payments. Amounts excluded from taxable income are generally not treated as compensation. The only exception is that all combat pay earned by military personnel is treated as compensation, even though most combat pay is not taxable. Compensation does not include income from property, such as interest, dividends, rent, or capital gains. You compute your net income from performing services by adding: • The wages, salary, tips, bonuses, professional fees, consulting fees, and other amounts you receive for providing personal services as an employee (you can use the amounts shown in the “wages, tips, other compensation” box of the IRS Forms W-2 that you receive); plus • The net income from a business you own and operate as a sole proprietor or your share of partnership income, but only if you actively provide services in connection with the business.
Compensation Limit. The dollar limitation on compensation used to calculate contributions, apply the limitations in effect under Code Section 415, apply the ADP and ACP tests, and apply the top-heavy rules was increased to $200,000, as adjusted.
Compensation Limit. The term “Code §401(a)(17) Compensation Limit” means, for any Plan Year and/or Limitation Year which begins on or after January 1, 2002, the statutory limit that applies to each Participant’s annual Compensation for a specific Compensation Determination Period which is taken into account under the Plan; such annual Compensation will not exceed $200,000. However, the $200,000 statutory limit on annual Compensation will be adjusted for cost-of-living increases in accordance with Code §401(a)(17)(B). The cost-of-living adjustment in effect for a calendar year applies to annual Compensation for the Compensation Determination Period that begins with or within such calendar year. If a Compensation Determination Period is less than 12 consecutive months, then the Code §401(a)(17) Compensation Limit will be multiplied by a fraction, the numerator of which is the number of months in the Compensation Determination Period, and the denominator of which is 12. If Compensation for any prior Compensation Determination Period is used in determining a Participant’s Plan benefits for the current Plan Year, then the annual Compensation for such prior Compensation Determination Period is subject to the applicable Code §401(a)(17) Compensation Limit as in effect for that prior Compensation Determination Period.
Compensation Limit. In determining Compensation for all purposes other than for Elective Deferral purposes under Code §402(g), a Participant’s Compensation for any Compensation Determination Period will not exceed the Code §401(a)(17) Compensation Limit.
Compensation Limit. Compensation for indirect loss cannot be claimed. Loss of data is deemed to be an indirect loss except where this is due to data processing for which the Commissioned Party is responsible under the agreement. Total compensation during the agreement period is limited to an amount equal to the contract sum excluding value-added tax or an agreed estimate for the Assignment. The limitations in the first and second paragraphs are not, however, applicable if the Commissioned Party or parties for which he is liable have acted with gross negligence or intent.
Compensation Limit. 3 1.14 Contract............................................................................. 4 1.15
