COMPENSATION DEFINITION. Compensation means all cash compensation for services to the Employer, including salary, wages, fees, commissions, bonuses and overtime pay, that is includible in the Employee's gross income for the calendar year, plus amounts that would be cash compensation for services to the Employer includible in the Employee's gross income for the calendar year but for a compensation reduction election under Code §§ 125, 132(f), 401(k), 403(b), or 457(b) (including an election to defer compensation under Article III of the Plan). If elected below and to the extent permitted by the Treasury regulations or other similar guidance (including, without limitation, the requirements contained in Treasury Regulations §§ 1.457- 4(d)(1) and 1.415-2(e)(3)(i)), “compensation” also means accrued bona fide sick, vacation or other leave payable after severance from employment so long as the Participant would have been able to use the leave if employment had continued and it is paid within the longer of two and one- half (2½) months after the Participant ▇▇▇▇▇▇ employment with the Employer or the end of the calendar year in which the Participant ▇▇▇▇▇▇ employment with the Employer. 1. SHALL allow the deferral of leave provision described above. 2. SHALL NOT allow the deferral of leave provision described above.
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Sources: 401(k) Resolution and Participating Employer Agreement, 401(k) Resolution and Participating Employer Agreement
COMPENSATION DEFINITION. Compensation means all cash compensation for services to the Employer, including salary, wages, fees, commissions, bonuses and overtime pay, that is includible in the Employee's gross income for the calendar year, plus amounts that would be cash compensation for services to the Employer includible in the Employee's gross income for the calendar year but for a compensation reduction election under Code §§ 125, 132(f), 401(k), 403(b), or 457(b) (including an election to defer compensation under Article III of the Plan). If elected below and to the extent permitted by the Treasury regulations or other similar guidance (including, without limitation, the requirements contained in Treasury Regulations §§ 1.457- 4(d)(1) and 1.415-2(e)(3)(i)), “compensation” also means accrued bona fide sick, vacation or other leave payable after severance from employment so long as the Participant would have been able to use the leave if employment had continued and it is paid within the longer of two and one- half (2½) months after the Participant ▇▇▇▇▇▇ employment with the Employer or the end of the calendar year in which the Participant ▇▇▇▇▇▇ employment with the Employer.
1. SHALL allow the deferral of leave provision described above.. ✔
2. SHALL NOT allow the deferral of leave provision described above.
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