Aggregate annual compensation definition
Aggregate annual compensation means the sum of all compensation, as defined in section 104(1), paid annually to active members.
Aggregate annual compensation means, for any fiscal year, the Aggregate Annual Cash Compensation plus any noncash compensation, paid or credited to Director during the fiscal year for Director Services, including without limitation the value, on the later of the date of grant or vesting of any stock option or other nonmonetary grants or any other deferred compensation granted during such fiscal year, as well as the cash amount of any premiums paid by the Company for health insurance, HMO or other similar medical benefits (but not any disability plans or benefits) for the Director.
Aggregate annual compensation means the sum of (A) and (B) below:
More Definitions of Aggregate annual compensation
Aggregate annual compensation means the sum of (i) and (ii) below:
(i) The Employee’s annual base salary rate in effect on the date immediately prior to the Employee’s Date of Termination, or any greater annual base salary rate applicable to the Employee during the two-year period prior to the Date of Termination.
(ii) An amount equal to the largest annual bonus paid or payable to the Employee for the three consecutive years prior to the year in which the Employee’s Date of Termination occurs (or, if fewer than three, for the years in which the Employee is employed). Determinations under this paragraph (c) shall be subject to the following:
(I) If any portion of the Employee’s salary has been reduced to reflect elective deferrals of amounts that would otherwise be included in salary in the absence of such deferral, those deferred amounts shall be included in the determination of the Employee’s salary at the time they would have been paid in the absence of such deferral. Conversely, such amounts shall not be included in the Employee’s salary when they are paid at the end of the deferral period.
(II) A bonus is deemed paid for a year if it is earned as a result of services that are performed by the Employee in that year. If any portion of the Employee’s bonus has been reduced to reflect elective deferrals of amounts that would otherwise be included in bonus in the absence of such deferral, those deferred amounts shall be included in the determination of the Employee’s bonus without regard to such deferral. Conversely, such amounts shall not be included in the Employee’s bonus when they are paid at the end of the deferral period.
(III) The determination of the bonus amount paid or payable to the Employee for any year shall be annualized if the Employee is not employed by the Company or an Affiliate for the entire year.
(IV) If the Employee’s Date of Termination occurs within the period beginning on a Change of Control Date and ending on the last day of the 24th calendar month following the calendar month in which the Change of Control Date occurs, then the amount determined in accordance with paragraph (ii) above shall be not less than the largest of the annual bonus amounts paid or payable to the Employee for the three consecutive years prior to the year in which the Change of Control Date occurs (or, if fewer than three, for the years in which the Employee is employed).
(V) For the avoidance of doubt, it is recited here that “Aggregate Annual Compensation” will not include the following...
Aggregate annual compensation shall be calculated as the sum of the following: (A) 100% of Executive’s Annual Base Salary, plus (B) 100% of Executive’s annual bonus target amount for the year in which such termination occurs (or, if annual bonuses have not yet been paid for the prior year, the target amount of such prior year annual bonus), plus (C) 100% of the annual amount paid to Executive by Spark Networks SE for serving as a managing director of Spark Networks SE, plus (D) the 2 sf-3951095
Aggregate annual compensation means the Executive's base salary plus any bonuses earned for the year in question pursuant to Company short-term or long-term bonus incentive programs. In addition, for two (2) years after the date of termination, the Company will maintain for the Executive's benefit the same or substantially equivalent health, disability and life insurance coverage as were applicable to the Executive and his eligible dependents prior to the date of termination. Following such two (2) year period, the Company shall provide to the Executive and his eligible dependents the retiree group health insurance coverage that is otherwise available to retirees of the Company, at a cost to the Executive at the time coverage is provided that is no greater than the cost to a retiree at that time with the same years of service as the Executive; provided, however, that if the Executive was not eligible for early retirement under the Company's qualified defined benefit pension plan at the time of his termination of employment, such retiree coverage shall not commence until the later of the Executive's attainment of age 55 or two (2) years after his date of termination.
Aggregate annual compensation excludes the value of any equity in Spark Networks SE held by Executive at the time of the termination of employment.