Final Salary definition

Final Salary means the average annual salary for service for which

Final Salary or “FS” means the annual review date salary applicable immediately prior to the occurrence of the relevant event unless the event occurs less than 1 year before the member’s 55th birthday in which case the final salary shall be taken to be FAS but limited to the period from the date the member attained age 54 (or later commencement of membership if applicable) to the occurrence of the relevant event.

Final Salary means the average annual salary or

Examples of Final Salary in a sentence

• An installment deduction will not ex- ceed 15 percent of the disposable pay from which the deduction is made un- less the employee has agreed in writing to the deduction of a greater amount or the creditor agency has determined that smaller deductions are appro- priate based on the employee’s ability to pay.(4) Final salary payment.

• We are working on developing a concrete platform and methodology.

• Final salary due shall be paid on or before June 30 for those employed less than twelve (12) months.

• An in- stallment deduction will not exceed 15 percent of the disposable pay from which the deduction is made unless the employee has agreed in writing to the deduction of a greater amount or the creditor agency has determined that smaller deductions are appropriate based on the employee’s ability to pay.(3) Final salary payment.

• Details of the main benefits of membership of these schemes are summarised in the following table: Service Pre 1 April 2008Service 1.04.08 to 31.03.14Service Post 1 April 2014Basis Final salary Final SalaryCareer Average Revalued Earnings (CARE)PensionEach year worked is worth 1/80 x final pensionable salary.Each year worked is worth 1/60 x final pensionable salary.Each year worked accrues 1/49th x pensionable salary.Lump sumEach year worked is worth 3/80 x final pensionable salary.

More Definitions of Final Salary

Final Salary means the Executive’s annual base salary as in effect on the Date of Termination or, if higher, the Executive’s annual base salary in effect immediately prior to the reduction giving rise (pursuant to clause (iv) of the definition of Good Reason) to such termination. “Final Average Bonus” means the average of the three most recent annual bonuses paid to Executive prior to the Date of Termination, whether such annual bonuses are paid in the form of cash or in grants of restricted common stock of the Company under the USEC Inc. Annual Incentive Program (which, under the USEC Inc. Annual Incentive Program, generally vests one year after the date of grant); provided, however, that (A) any annual bonus paid to Executive that was pro-rated or otherwise adjusted because Executive was not employed by the Company during the entire period to which such bonus related shall be annualized for purposes of the calculation of the Executive’s Final Average Bonus; (B) if Executive has experienced a change in position that has affected Executive’s annual bonus opportunity (whether or not such change in position is accompanied by a change in title), any annual bonus paid to Executive with respect to a period prior to such change in position shall not be include in the calculation of the Executive’s Final Average Bonus; (C) if Executive shall not have been paid at least three annual bonuses prior to the Date of Termination that are includable in the calculation of Executive’s Final Average Bonus, then Executive’s Final Average Bonus shall be an amount equal to the average of such lesser number of annual bonuses (or, if just one annual bonus, an amount equal to such bonus); and (D) if Executive shall not have been paid at least one annual bonus prior to the Date of Termination that is includable in the calculation of Executive’s Final Average Bonus, Executive’s Final Average Bonus shall be an amount equal to Executive’s annual target bonus as in effect on the Date of Termination or, if higher, the Executive’s annual target bonus in effect immediately prior to the reduction giving rise (pursuant to clause (iv) of the definition of Good Reason) to such termination. Final Average Bonus shall not include any amount of cash or equity paid or granted as part of any long term incentive plan or program that the Company in its sole discretion may elect to maintain from time to time.”

Final Salary means the highest annual base salary rate paid by the Company and any Subsidiary to the Executive during the three (3) years ending on the date of Termination of Employment, or if earlier, the date the Executive attains Normal Retirement Age.

Final Salary means the Participant's Base Salary plus his or her Bonus Awards.

Final Salary means the average salary received by the member in the last 12 months of creditable service preceding his retirement or death. Such term shall not include the value of the member's maintenance allowance.

Final Salary means the Executive’s annual base salary as in effect on the Date of Termination or, if higher, the Executive’s annual base salary in effect immediately prior to the reduction giving rise (pursuant to clause (iv) of the definition of Good Reason) to such termination. “Target Bonus” means 100% of the targeted cash bonus Executive would be entitled to receive if he (and, if applicable, the Company) were to achieve all of the enumerated performance targets established by the Company under the STIP for the Executive during the year in which the Date of Termination occurs; and

Final Salary means the amount that is the greater of: (i) Executive’s annual Base Salary (before adjustments for elective deferrals or contributions to Company employee benefit plans) payable immediately prior to Executive’s Benefit Commencement Date, or (ii) the average of Executive’s annual Base Salary (before adjustments for elective deferrals or contributions to Company employee benefit plans) for the three highest years during the ten year period ending on the December 31st immediately preceding Executive’s Benefit Commencement Date.

Final Salary means the Participant’s annual base salary as in effect on the date of termination.