Covered Compensation. Covered Compensation," for any calendar year, shall mean an amount equal to the sum of (i) Executive's Base Salary for the calendar year (disregarding any decreases made effective during the Employment Period), (ii) the cash bonus actually earned by Executive with respect to such calendar year, and (iii) the value of all stock and other equity-based compensation awards made to Executive during such calendar year. Covered Compensation shall be calculated according to the following rules:
Covered Compensation. In the event that a Triggering Event is determined by the Committee to have occurred, the Committee may seek recoupment from the Executive of the following Performance Based Compensation paid to and Trading Profits received by the Executive (“Covered Compensation”):
Covered Compensation. A Participant’s Covered Compensation for a Plan Year is the average (without indexing) of the Taxable Wage Bases in effect for each calendar year in the thirty-five (35) year period ending with the calendar year in which the Participant attains (or will attain) social security retirement age. In determining a Participant’s Covered Compensation for a Plan Year, the Taxable Wage Base in effect for the current Plan Year and any subsequent Plan Year will be assumed to be the same as the taxable wage base in effect as of the beginning of the Plan Year for which the determination is being made. Covered Compensation will be determined for the year designated by the Employer in Section III(C) of the Target Benefit Plan Adoption Agreement. A Participant’s Covered Compensation for a Plan Year before the end of the thirty-five (35) year period ending with the last day of the calendar year in which the Participant attains social security retirement age is the Taxable Wage Base in effect as of the beginning of the Plan Year. A Participant’s Covered Compensation for a Plan Year after such thirty-five (35) year period is the Participant’s Covered Compensation for the Plan Year during which the thirty-five (35) year period ends.
Covered Compensation. The average (without indexing) of the Taxable Wage Bases in effect for each calendar year during the 35-year period ending with the last day of the calendar year in which the Participant attains (or will attain) Social Security Retirement Age. See Section 2.5(d)(2).
Covered Compensation. Covered Compensation is based on the law as amended to the first day of the plan year containing the Effective Time of Closing.
Covered Compensation. “Covered Compensation,” for any calendar year, shall mean an amount equal to the sum of (i) Executive’s Base Salary (that is, in the case of IMH, the IMH Base Salary and in the case of Infinet, the Infinet Base Salary, as applicable) for the calendar year, and (ii) the IMH Cash Bonus or the Infinet Cash Bonus, as applicable, actually earned by Executive with respect to such calendar year from IMH or Infinet, as applicable. Covered Compensation shall be calculated according to the following rules:
Covered Compensation. Covered Compensation," for any calendar year, shall mean an amount equal to the sum of (i) Executive's Base Salary for the calendar year, (ii) the cash bonus actually earned by Executive with respect to such calendar year, and (iii) the value of all stock and other equity-based compensation awards made to Executive during such calendar year. In the event that the Company has or hereafter makes any special, mid-year or other non-routine grant of equity outside of the Company's recurring annual equity compensation programs, the value of any such mid-year, special, or additional equity based compensation shall not be included in clause (iii) of the preceding sentence and therefore shall not be included in the calculation of
Covered Compensation. For purposes of applying an Integrated Benefit Formula, a Participant’s Covered Compensation for the Plan Year is the average of the Taxable Wage Bases in effect for each calendar year during the 35-year period ending on the last day of the calendar year in which the Participant attains (or will attain) his/her Social Security Retirement Age. In determining a Participant’s Covered Compensation, the Taxable Wage Base in effect as of the beginning of the Plan Year is assumed to remain constant for all future years. If a Participant is 35 or more years away from his/her Social Security Retirement Age, the Participant’s Covered Compensation is the Taxable Wage Base in effect as of the beginning of the Plan Year. A Participant’s Covered Compensation remains constant for Plan Years beginning after the calendar year in which the Participant attains Social Security Retirement Age. Unless elected otherwise under Part 4, #14.d.(2) of the Agreement, a Participant’s Covered Compensation must be adjusted every Plan Year to reflect the Taxable Wage Base in effect for such year. The Employer may designate under Part 4, #14.d.(2)(a) to use Covered Compensation for a Plan Year earlier than the current Plan Year. Such earlier Plan Year may not be more than 5 years before the current Plan Year. For the sixth Plan Year following the Plan Year used to calculate Covered Compensation (as determined under this sentence), Covered Compensation will be adjusted using Covered Compensation for the prior Plan Year. Covered Compensation will not be adjusted for Plan Years prior to the sixth Plan Year following the Plan Year used to calculate Covered Compensation. In determining a Participant’s Covered Compensation, the Employer may elect under Part 4, #14.d.(2)(b) to apply the rounded Covered Compensation tables issued by the IRS instead of using the applicable Taxable Wage Bases of the Participant.
Covered Compensation. For purposes of determining the amount of all Contributions to be made by, or on behalf of, an Eligible Member, Covered Compensation shall include any compensation includible in an Eligible Member's gross income as reportable in Box 1 of IRS Form W-2 (excluding overtime, bonuses and contributions and payments under any health, medical, hospitalization or other welfare or retirement plan), plus elective deferrals under Code Section 402(g)(3) and other elective amounts not includable in gross income under Code Sections 125, 132(f)(4) or 457.
Covered Compensation. Determined for the 35-year period ending on the last day of the calendar year:
