APS 2015 Annual Report Download - page 200

This account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the
amounts to be paid to the Participant pursuant to this Plan.
1.2 “Annual Deferral” shall mean that portion of a Participant’s Base Annual Salary, Restricted Stock Units (but only if
deferral of Restricted Stock Units is permitted by the Company), Year-End Bonus and/or Directors Fees that a Participant elects to
have and is deferred, in accordance with Article 3, for any one Plan Year. In the event of Disability, death or a Separation from Service
prior to the end of a Plan Year and prior to 2008, such year’s Annual Deferral shall be the actual amount withheld prior to such event.
In the event of death or a Separation from Service prior to the end of a Plan Year, the Annual Deferral shall include amounts that are
earned, but not yet paid, immediately prior to a Participant’s death or Separation from Service (for example, a Year-End Bonus that
might have been earned but not yet paid as of the date of a Participant’s death or Separation from Service).
1.3 “Base Annual Salary” shall mean the annual compensation, excluding bonuses, commissions, overtime, incentive
payments, non-monetary awards, Directors Fees and other fees paid to a Participant for employment services rendered to any
Employer, before reduction for compensation deferred pursuant to all qualified, non-qualified and Code Section 125 compensation
plans of any Employer.
1.4 “Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 7,
that are entitled to receive benefits under this Plan upon the death of a Participant.
1.5 “Beneficiary Designation Form” shall mean the form established from time to time by the Committee that a Participant
completes, signs and returns to the Company to designate one or more Beneficiaries.
1.6 “Board” shall mean the Board of Directors of the Company.
1.7 “Claimant” shall have the meaning set forth in Section 12.1
1.8 “Code” shall mean the Internal Revenue Code of 1986, as amended.
1.9 “Committee” shall mean the administrative committee appointed to manage and administer the Plan in accordance with its
provisions pursuant to Article 10.
1.10 “Company” shall mean Pinnacle West Capital Corporation, an Arizona corporation.
1.11 “Deferral” shall mean the sum of all of a Participant’s Annual Deferrals.
1.12 “Director” shall mean any member of the board of directors of an Employer.
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