Definitions & Explanation of Calculation Sample Clauses

Definitions & Explanation of Calculation. The driving factor of the Plan is EBITDA. The following section explains this factor, as well as other Plan-related terminology, in greater detail. EBITDA is defined as earnings before interest, taxes, depreciation, and amortization, adjusted for any extraordinary items as approved by the Board. Active employment is defined as eligible for benefits (but exclusive of periods when benefits are extended during non-active employment). An employee participating in the Plan must be actively employed as of the last day of the plan year in order to receive an award. Company refers to Hershey Entertainment & Resorts Company. The Company consists of Hersheypark®, Hersheypark Arena/Stadium, Hershey Bears® Hockey, The Hotel Hershey®, The Hershey Lodge & Convention Center, Hershey® Country Club, The Hershey Theatre, HCAR-Cocoa Beanery®, Café Zooka, Xxxxxxxx’x, Xxxxx, RAM LLC, Hersheyparksm Camping Resort, Hershey Laundry & Dry Cleaning® and Hershey Nursery. Eligible Earnings are defined as regular earnings, overtime pay, shift differential, stage pay, vacation pay (excluding excess vacation), holiday pay, tips, gratuities, rooms allowance accrued vacation pay, accrued holiday, retroactive pay, payment while on jury duty, orientation pay, accident and sickness payments, and payment while on temporary Military leave, as reflected on the plan year’s W2. Long term disability payments, prior year's profit sharing awards, bonuses, tuition reimbursement and any other imputed income are not eligible earnings. In addition, the following will be used in determining eligible earnings: • For employees who transfer from part-time to full-time status during the plan year, the calculation will count as eligible earnings those earned between the full-time date of hire closest to the end of the plan year and the end of the plan year. • For employees who transfer from part-time to full-time status during the plan year but after September 1, eligible earnings will not be reduced by 50% as they are for new employees hired after September 1.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Definitions & Explanation of Calculation

  • Definition of Shifts (a) A shift starting on or after 6:00 a.m., but before 9:00 a.m. is a day shift.

  • Project Definition The known characteristics of the Project and sub-projects shall be described in general terms which will provide the participants a basic understanding of the Project and sub- projects.

  • Definition of Overtime Overtime means those hours worked in excess of normal hours of work as per Article 8.1 (Normal Work Week).

  • DEFINITIONS AND INTERPRETATION Definitions 1.1 In this Contract, unless the contrary intention appears: Activity End Date means the date reported as such in a Student Statistical Report for an individual's enrolment in an individual subject. Activity Start Date means the date reported as such in a Student Statistical Report for an individual's enrolment in an individual subject. Apprentice has the meaning given to it in the Act. Approved Training Scheme means a training scheme approved under section 5.5.2 of the Act. Brokering Services means the recruitment of individuals to participate in Skills First subsidised training in exchange for payment from the Training Provider or the student. It excludes activities carried out by individuals who are employees of the Training Provider on the Training Provider’s payroll, whose role includes the identification and recruitment of potential students. Business Day means a day which is not a Saturday, Sunday or a public holiday in Melbourne, Victoria.

  • PROJECT DEFINITIONS The following capitalized terms have the meanings assigned below for purposes of Exhibits A and B.

  • SECTION I - DEFINITIONS As used in this Agreement, the following terms shall have the meanings ascribed herein unless otherwise stated or reasonably required by the Agreement, and other forms of any defined words shall have a meaning parallel thereto.

  • Specific Definitions The following terms used in this Agreement shall have the following meanings:

  • Definitions For purposes of this Agreement:

  • Interpretation Definitions Unless the context shall otherwise require: words in the singular shall also include the plural, and vice versa; any pronoun shall include the corresponding masculine, feminine and neuter forms; the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”; the words “herein”, “hereof” and “hereunder” and words of similar import refer to this Agreement in its entirety and not to any part hereof; all references herein to Sections or clauses shall be deemed references to Sections or clauses of this Agreement; any references to any agreement or other instrument or law, statute or regulation are to it as amended, supplemented or restated, from time to time (and, in the case of any law, to any successor provisions or re-enactment or modification thereof being in force at the time); any reference to “law” shall include any supranational, national, federal, state, local, or foreign statute or law and all rules and regulations promulgated thereunder; any reference to a “day” or a number of “days” (without any explicit reference otherwise, such as to business days) shall be interpreted as a reference to a calendar day or number of calendar days; reference to month or year means according to the Gregorian calendar; reference to a “

  • Definition of Working Days Working day" as used in the Grievance and Arbitration procedure shall mean a day other than Saturday, Sunday or a recognized holiday.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!