Can someone explain nLockTime? I'm having a hard time understanding how nLockTime works. The Bitcoin wiki has an explanation that is confusing to me:


  nLockTime is a parameter that can be attached to a transaction, that mandates a minimal time (specified in either unix time or block height), that before this time, the transaction cannot be accepted into a block.


Can someone explain it in plain English, with an example?
From the wiki it basically states that you can make a transaction to another bitcoin address and add nlocktime. The way that this would work in real life would be if you get paid on salary and are paid bi-weekly, the bitcoins will be on the network but won't reach you until the nlocktime is up 
Edit: read example 1 from https://en.bitcoin.it/wiki/Contracts