decorative photograph
The compensation used in calculating the amount of the Company's contributions (including pay deferral contributions and Roth pay deferral contributions) on your behalf consists of the following (unless listed under "Items Excluded"):
  • Wages, salary, and other taxable amounts received for services to the Company;
  • Commissions and bonuses;
  • Pay deferral contributions and Roth pay deferral contributions to this Plan;
  • Pay reduction contributions to a "cafeteria" plan or qualified transportation fringe benefit program;
  • Differential wage payments (wage amounts paid by the Company during any period in which you are performing active military service for at least 30 days) that would have been paid had you been actively employed by the Company during that period; and
  • Unused vacation or sick pay that is paid to you in accordance with the Company's vacation cashout program, even if the payment is made after your termination of employment.
Items excluded
The following items are excluded from compensation for Plan purposes:
  • Amounts paid to you before you met the requirements for participating in the Plan;
  • Pay reduction amounts or other contributions to a nonqualified deferred compensation plan;
  • Distributions from a nonqualified or qualified deferred compensation plan;
  • Income from the exercise of a stock option;
  • Income from restricted property that becomes taxable under Section 83 of the Internal Revenue Code when the restrictions lapse;
  • Income realized on the sale of stock acquired under a statutory stock option;
  • Amounts subject to special tax benefits which are not includible in income;
  • Reimbursements or other expense allowances, fringe benefits, moving expenses, deferred compensation, and welfare benefits; and
  • Severance pay.
Federal law requires the Plan to limit to $345000 the amount of an employee's compensation during a Plan Year that may be used in figuring the amount of contributions on behalf of an employee under the Plan for the Plan Year. The IRS may increase the $345,000 limit in future years for inflation.