Actual Base Salary definition
Actual Base Salary means the base salary you actually received during the applicable performance period calculated as of the last day of the applicable performance period, (i) including any amounts deferred pursuant to an election under any 401(k) plan, pre-tax premium plan, deferred compensation plan, or flexible spending account sponsored by the Company or any Subsidiary, and any overtime paid to you as an offshore employee required by your standard work schedule, but (ii) excluding any incentive compensation, employee benefit, or other benefit paid or provided under any incentive, bonus or employee benefit plan sponsored by the Company or any Subsidiary, all overtime paid other than as specified in (i) above and/or any excellence award, gains upon stock option exercises, restricted stock grants or vesting, moving or travel expense reimbursement, sign on bonus, imputed income, or tax gross-ups, without regard to whether the payment or gain is taxable income to you. By way of example only, the Performance Vesting Requirement adjustment described above will operate as follows: if you are granted 1,000 Restricted Stock Units subject to a Performance Vesting Requirement on the Date of Grant, and the level of achievement of the Performance Goals during the applicable performance period is reached at a level the Company has designated as a 75% achievement level, it will only be possible for you to vest in 750 Restricted Stock Units on the Vesting Date and the remaining 250 Restricted Stock Units shall be forfeited as of the end of the performance period. In addition, to the extent you were on unpaid leave and/or were not actively employed during any part of the applicable performance period, the number of such Restricted Stock Units shall be further adjusted as described in the first paragraph of Section 3(b) to the extent your Actual Base Salary for the applicable performance period is less than your Base Salary for such performance period. As noted in the first paragraph of Section 3(b), the Committee has the right to further reduce or eliminate the number of Restricted Stock Units granted to you for any reason regardless of the satisfaction of the Performance Vesting Requirement and the applicable level of achievement attained in connection therewith. Following the satisfaction of the Performance Vesting Requirement and the adjustments herein provided but prior to the Vesting Date, you will be then eligible to receive Dividend Equivalents with respect to the adjusted Restrict...
Actual Base Salary means the total base salary paid to the Plan Participant during the Plan Year.
Actual Base Salary means the annual rate of base salary payable to the Plan Participant as of the end of the Plan Year to which the annual incentive relates or, if earlier, at the time of the Plan Participant’s Termination of Employment.
Examples of Actual Base Salary in a sentence
Executive’s target annual bonus will be 100% of Executive’s Actual Base Salary for the applicable Bonus Year, but the actual amount of the Annual Bonus will be determined in the discretion of the Board (or a committee thereof) depending on both Company and Executive performance.
If the Executive terminates this agreement for “Good Reason” under Section 5C (but not for a “change in control”), Executive’s Additional Severance Compensation shall be twelve (12) times Executive’s monthly Actual Base Salary.
More Definitions of Actual Base Salary
Actual Base Salary means the actual base salary amounts paid by the Company to Executive during any full calendar year in the Employment Period, as determined (a) at the end of any calendar year, by aggregating all Guaranteed Base Salary and, to the extent paid, Additional Base Salary payments made at the end of any calendar year or, (b) during any calendar year, by aggregating all Guaranteed Base Salary and, to the extent paid, Additional Base Salary payments made through the date of determination (the “Aggregated Base Salary”) and dividing the Aggregated Base Salary by the number of full calendar months that have elapsed since the beginning of such calendar year through the date of determination (the “Average Monthly Base Salary”) and multiplying the Average Monthly Base Salary by 12, and rounding to the closest whole dollar amount. The Guaranteed Base Salary and, to the extent paid, any amount of Additional Base Salary, shall be payable in conformity with the Company’s customary payroll practices for similarly situated employees as may exist from time to time, but no less frequently than monthly. In the event this Agreement commences or terminates other than on the first or last day of a calendar month, the Guaranteed Base Salary and, to the extent paid, any amount of Additional Base Salary shall be prorated for that partial month based upon the number of days in such month that this Agreement was in effect.
Actual Base Salary means the actual base salary amounts paid by the Company to Executive during any full calendar year in the Employment Period, as determined (a) at the end of any calendar year, by aggregating all Guaranteed Base Salary or, (b) during any calendar year, by aggregating all Guaranteed Base Salary payments made through the date of determination (the “Aggregated Base Salary”) and dividing the Aggregated Base Salary by the number of full calendar months that have elapsed since the beginning of such calendar year through the date of determination (the “Average Monthly Base Salary”) and multiplying the Average Monthly Base Salary by 12, and rounding to the closest whole dollar amount. The Guaranteed Base Salary, shall be payable in conformity with the Company’s customary payroll practices for similarly situated employees as may exist from time to time, but no less frequently than monthly. In the event this Agreement commences or terminates other than on the first or last day of a calendar month, the Guaranteed Base Salary shall be prorated for that partial month based upon the number of days in such month that this Agreement was in effect.