Annual Basic Pay definition

Annual Basic Pay means the Participant's annual base salary rate on the last day the Participant was on the active payroll plus, with respect to a Participant whose last day on the active payroll occurred after October 1, 1996, an amount determined with reference to the Short Term Plan, but excluding all differentials regarded as temporary or extra payments and all awards and distributions made under the Long Term Plan. For purposes of determining the Disability Allowance under ARTICLE 3, the amount determined with reference to the Short Term Plan shall be the last Short Term Award granted to the Participant prior to the last day the Participant was on the active payroll. For purposes of determining the Minimum Retirement Benefit under ARTICLE 4 and the Surviving Spouse Benefit under ARTICLE 5, the amount determined with reference to the Short Term Plan shall be the greater of (1) the Short Term Award for the last full calendar year of service prior to the earlier of the Participant's retirement, termination or death, or (2) the Short Term Award granted with respect to any later partial calendar year of service.
Sample 1
Annual Basic Pay means the participant's annual base salary rate (including those amounts previously deferred pursuant to other plans) as determined by the Company on the last day the participant was on the active payroll plus an amount determined was on the active payroll plus an amount determined with reference to the Short Term Incentive Plan, but excluding all other payments and all cash payments and distributions made under the BellSouth Executive Long Term Incentive Plan or Shareholder Return Cash Plan. The amount determined with reference to the Short Term Incentive Plan shall be the lesser of the participant's standard short term award in effect on the last day the participant was on the active payroll or 60% of the participant's annual base salary rate (including those amounts previously deferred pursuant to other plans) on the last day participant was on active payroll.
Sample 1
Annual Basic Pay means the Participant's annual base salary rate (as determined by the Employer) on the last day the Participant was on the active payroll, but excluding all differentials regarded as temporary or extra payments and all cash payments and distributions made under the Short Term Plan and the SBC Communications Inc. Long Term Incentive Plan. The base salary rate in Xxxxxxx 0, xxxxxxxxx 0, xxxxx xx the base salary amount prior to any reduction as a result of the Senior Management Deferred Compensation Plan.
Sample 1

Examples of Annual Basic Pay in a sentence

  • Annual Basic Pay - (upon which your and each of your Dependents’ Deductibles are based) means the amount of “annual pension” being paid as of December 31 of the preceding calendar year.

  • A Participant's "Annual Basic Pay" means his annual base salary rate on the last day on which he is on the active payroll of the Company or Employer plus the applicable standard short-term award in effect on such date.

  • In addition to Basic Pay, other allowances like Dearness allowance, House Rent Allowance, 35% of the Annual Basic Pay as perquisites, Performance Related Pay (PRP), Group Life Insurance, Medical reimbursement, Provident Fund & Pension, as per the Company's rules, will be part of the remuneration package.

  • Annual Basic Pay of the concerned individual i.e. the sum total of actual basic pay drawn for the 12 months or actual period whichever is lower during the respective financial year.

  • Annual Basic Pay For purposes of determining the Minimum Retirement Benefit and Survivor Benefit under Article 4, the annual base salary rate on the last day the Participant was on the active payroll plus an amount equal to the Participant’s target award, as determined under the Short Term Plan, in effect at the time of the Participant’s retirement, termination of employment or death.

  • Annual Basic Pay of the concerned individual i.e. the sum total of actual basic pay drew for the 12 months or actual period whichever is lower during the respective financial year.

  • Annual Basic Pay and Regular Military Compensation for Selected Years of Service, by Pay Grade, as of July 1, 2000 58 FIGURES 1.

  • The Company-provided level of Group Life Insurance equals Annual Basic Pay at the time of retirement rounded to the next higher $1,000 for Eligible Individual's retiring prior to April 1, 1986, and, for Eligible Individual's retiring on or after April 1, 1986, Annual Basic Pay shall be determined for purposes of this Section 6 as of the September 1 of the year immediately preceding the year of the Eligible Individual's retirement, rounded to the next higher $10,000.

  • In combination with the post-retirement Company- provided level of Group Life Insurance, it assures a total death benefit equal to the Annual Basic Pay at retirement rounded to the coverage amount at retirement, to the extent required by Paragraph 4 of this Section 6.


More Definitions of Annual Basic Pay

Annual Basic Pay means the higher of the Eligible Employee’s annual basic salary:
Sample 1
Annual Basic Pay shall be amended to replace the BellSouth Executive Long Term Incentive Plan with the comparable Cingular Wireless plan, if any, and to delete any reference to the Shareholder Return Cash Plan.
Sample 1
Annual Basic Pay means the employee's annual salary for an employee paid on a salary pay scale; the rate of hourly pay multiplied by 2,080 hours for a full-time employee paid on an hourly pay scale; and the rate of hourly pay multiplied by scheduled hours for a part-time employee paid on an hourly pay scale. "Annual basic pay" includes earnings that have been reduced under the County's Deferred Compensation Plan under § 457 of the Internal Revenue Code and under any other statutory fringe benefit program sponsored by an employer and permitted by the Internal Revenue Code.
Sample 1
Annual Basic Pay means the Participant's annual base salary rate as determined by the Company on the last day the
Sample 1

Related to Annual Basic Pay

  • basic pay means the rate of pay negotiated by the parties to this Agreement, including add-to-pay resulting from salary protection.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Monthly Salary Rate means the amount agreed to by Owner that can be used on Applications for Payment throughout the Construction Phase to account for the monthly salary costs of Contractor’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Contractor’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by Contractor for services performed. The initial Monthly Salary Rate is included in Exhibit “G” attached to this Agreement.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Excess Earnings means, with respect to Mortgage Loans held in any subaccount of the Acquisition Account or the Loan Recycling Account established in connection with a Series of Tax- exempt Bonds, the "excess earnings," as defined in Treasury Regulations § 1.148-10T, with respect thereto.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarially equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or qualified joint and survivor annuity) to which the Member would be entitled under the terms of the plan assuming:

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Final average salary means whichever of the following is greater:

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.