Section 415(c)(1)(B) limits contributions to 100% of the participant's compensation.
Section 415(c)(3)(A) defines the participant's compensation as the compensation of the participant from the employer for the year.
Deferred compensation is not compensation for the year. Compensation for the year is only the amount by which box 1 would exceed box 11 without any 401(k) contribution.
409(a) = Nonqualified deferred compensation plan.
