Compensation Reduction Agreement means an agreement between the Employer and an Eligible Employee whereby the Eligible Employee agrees to reduce his Compensation during the applicable payroll period by an amount equal to any whole percentage thereof, to the extent provided in Section 3.1, and the Employer agrees to contribute to the Trust, on behalf of such Eligible Employee, an amount equal to the specified reduction in Compensation.
Compensation Reduction Agreement means the written compensation reduction agreement entered into by a Participant with Company in the form attached hereto as Exhibit A in any Plan Year.
Compensation Reduction Agreement means the agreement between a Participant and the Employer whereby the Participant elects to defer a portion of his Compensation and the Employer agrees to contribute such amount to such Participant's Compensation Reduction Account on behalf of the Participant in a manner intended to satisfy the requirements of Section 401(k) of the Code.
Examples of Compensation Reduction Agreement in a sentence
The amount will be withheld over 21 or 26 pays in pre-tax dollars through a Cafeteria Plan 125 – Election Agreement and Pre- Tax Compensation Reduction Agreement.
Any Employee who enters into a special Compensation Reduction Agreement pursuant to the preceding sentence who is not already a Member shall become a Member with respect to the amount so contributed.
A Compensation Reduction Agreement may be suspended at any time as to Deferred Salary Contributions and/or Xxxx Contributions not theretofore accrued.
Such special Compensation Reduction Agreement shall be effective upon its execution by the Employee.
Deferred Salary Contributions and/or Xxxx Contributions for an Employee shall be made at the end of each Contribution Period as specified in the Compensation Reduction Agreement.
More Definitions of Compensation Reduction Agreement
Compensation Reduction Agreement means an agreement between an Eligible Employee and the Employer under which the Employer reduces the Employee’s Compensation in an amount determined by the Employee with respect to services rendered after the execution of the agreement and the Employer agrees to contribute an amount equal to the reduction to the Plan on behalf of the Employee as an Elective Contribution. A Compensation Reduction Agreement in effect on June 30, 2007 under the PST shall continue in effect and be treated as a Compensation Reduction Agreement under this Plan for an Eligible Employee who becomes a Participant in the Plan on July 1, 2007.
Compensation Reduction Agreement means an agreement executed by and between the Employer and the Employee pursuant to Code Section 403(b) under which the Employee agrees to a reduction in future compensation and the Employer agrees to deposit such amount into the Employee’s Account subject to the applicable limitations of the Plan, the Code and accompanying regulations.
Compensation Reduction Agreement means an agreement between a Participant and the Company, under which the Participant agrees to a reduction in his Salary Compensation and/or Bonus Compensation and the Company agrees to credit him with Compensation Reduction Accruals under this Plan.
Compensation Reduction Agreement means an agreement, which may be combined with or incorporated into a participation agreement, that (1) satisfies the requirements of §2.4.5(b)(2) and (2) must be entered into as a condition to receive compensation reduction contributions.
Compensation Reduction Agreement means a written agreement between a Participant and an Employer under which the Employer reduces the Participant's Compensation with respect to services rendered after the execution of the agreement and the Employer agrees to contribute the amount of the reduction to the Plan on behalf of the Participant as a Before-Tax Contribution.
Compensation Reduction Agreement means a written agreement between an Eligible Employee and the Employer under which the Employer reduces the Employee’s Compensation in an amount determined by the Employee with respect to services rendered after the execution of the agreement and the Employer agrees to contribute an amount equal to the reduction to the Plan on behalf of the Employee as a Before-Tax Contribution.
Compensation Reduction Agreement means an agreement between the Participant and the Employer under which the Participant agrees to reduce the Participant’s Compensation and to have such amounts credited to the FSA Plans or to the Participant’s HSA (for HSA-Eligible Individuals) on the Participant's behalf. The Compensation Reduction Agreement shall apply only to Compensation that has not been actually or constructively received by the Participant as of the date of the agreement (after taking this Plan and Code Section 125 into account) and, subsequently does not become currently available to the Participant. This term also includes HSA Contribution Amounts elected by Participants who are HSA-Eligible Individuals.