Salary Deductions definition

Salary Deductions means monies deducted or to be deducted (as appropriate in the context) from a Participant’s Gross Salary or Net Salary (as determined by the Committee) each pay period over the Purchase Period for the acquisition of Purchased Shares;
Sample 1

Examples of Salary Deductions in a sentence

  • Notice by a Participant to terminate Salary Deductions under the Plan shall be given in writing by a Participant and shall be deemed given to the Company only when received by the Company at its principal executive offices in Mendota Heights, Minnesota (U.S.A.) or such other address as the Company may specify in writing.

  • Upon such first anniversary, the total amount of Salary Deductions actually made for the purpose of the Option shall equal the Option Purchase Price.

  • The grant shall terminate and be void if the Eligible Employee does not elect to participate in the Plan and does not agree within such thirty-day period to authorize Salary Deductions to purchase the Option.

  • Upon a grant of an Option, a Participant may, for a period of thirty (30) days following receipt of the grant, elect to sign and submit to the Company a Participation Agreement, which authorizes Salary Deductions for one year following the grant of the Option.

  • Upon cessation of Salary Deductions, the aggregate amount deducted from a Participant's compensation shall represent the Option Purchase Price for the Option.

  • A Participant’s Awards will lapse, and Reinvested Purchased Shares will be Released, as appropriate, on the date the notice is received and any Salary Deductions or deductions from Bonus will cease as soon as practicable.

  • A Participant may, at any time prior to the first anniversary of the grant of an Option, elect to withdraw from the Plan and terminate Salary Deductions, whereupon such participation and Salary Deductions shall cease effective as of the first pay period following the date such notice was given to the Company.

  • As soon as practicable following each Pay Day, Patterson Canada or the relevant Affiliate shall remit all Participants' Salary Deductions to the Company together with a list of such Participants and the amount of Salary Deduction of each Participant.

  • If the amounts to be deducted from Participant’s wages should be greater than the amounts which are allowed to be deducted according to the Applicable Laws, Participant shall, upon request of the Employer, conclude with the Employer Agreement on Salary Deductions, pursuant to Section 20 (2) of the Labor Code.

  • An Eligible Employee who is offered an Option and who wishes to participate in the Plan must purchase the Option by Salary Deductions.

Related to Salary Deductions

  • 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.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

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

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

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Limitation Year means the Plan Year.

  • 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.

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

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Payroll deduction means your premium is remitted to Aflac for you by your employer through a payroll deduction process or any other method agreed to by Aflac and the employer.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • 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.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

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

  • Employer Contributions means all amounts paid into ASRS by an

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.