Plain English Meaning
Below 10,000 feet above sea level, you are not allowed to fly faster than 250 knots as shown on your airspeed indicator. Above 10,000 feet, this limit no longer applies.
Full Definition
A regulatory speed limit of 250 knots indicated airspeed that, under 14 CFR 91.117, applies to all aircraft operating below 10,000 feet MSL. The speed is read directly from the airspeed indicator without correction for instrument or position error, density altitude, or wind.
Context Anchor
Seen in instrument procedure discussions, airspeed limits, and operating rules that specify a maximum or required speed by indicated airspeed.