Annual benefits definition
Annual benefits means the dollar value of consideration paid by TurboChef for the last complete calendar year on behalf of the Executive, or to provide the Executive with, the following employee benefits (as reasonably determined by one or more officers of TurboChef other than Executive): medical insurance, dental insurance, vision insurance, short-term disability insurance, long-term disability insurance, life insurance and accidental death benefits. In addition, TurboChef shall make any “Gross-Up Payment” called for under § 4(f) to Executive within five business days after the date such excise tax is determined to be payable. Executive waives Executive’s rights, if any, to have such payment taken into account in computing any other benefits payable to, or on behalf of, Executive by TurboChef. In addition, all outstanding stock options, restricted stock units or other equity awards shall immediately vest and become exercisable or paid out, and the agreements or certificates representing such awards shall be deemed amended as necessary to permit such accelerated vesting or pay out.
Annual benefits means the retirement benefit under the system which is
Annual benefits means the amount of Accrued Benefit attributable to Employer contributions which would be payable annually in the form of a Life Annuity as of the date of determination, except however, that if the Participant has not yet terminated employment with the Employer and has not yet reached his Normal Retirement Age, the Annual Benefit shall mean the amount of Accrued Benefit attributable to Employer contributions projected to such Participant's Normal Retirement Age assuming the Participant will continue working and Compensation will remain the same until the Participant's Normal Retirement Age.
Examples of Annual benefits in a sentence
Annual benefits must use the most recent 12 months’ average cost of electricity, fuel, riders and cost per peak KW charges.
Annual benefits can be used at any point during the 12 month plan, but can not roll over into the next 12 month period, so any sessions not used are also forfeited.
Annual benefits must use the most recent 12 months average cost of electricity, fuel, riders and cost per peak KW charges.
Annual benefits and sick leave as provided by the various Collective Bargaining Agreements and the Management Ordinance will continue to accrue during the period that an employee is on military leave.
Annual benefits provided by the Medical Center include health and hospitalization, disability insurance, tuition reimbursement, four (4) weeks vacation, nine (9) paid holidays and twelve (12) sick days.
More Definitions of Annual benefits
Annual benefits means the dollar value of consideration paid by TurboChef for the last complete calendar year on behalf of the Executive, or to provide the Executive with, the following employee benefits (as reasonably determined by one or more officers of TurboChef other than Executive): medical insurance, dental insurance, vision insurance, short-term disability insurance, long-term disability insurance, life insurance and accidental death benefits. In addition, TurboChef shall make any “Gross-Up Payment” called for under § 4(f) to Executive within five business days after the date such excise tax is determined to be
Annual benefits means the annual benefits payable to a Participant under all defined benefit plans (whether terminated or not) of the Employer as determined under regulation § 1.415-7(b)(3); and the term Current Accrued Benefit means a Participant’s accrued benefit under a defined benefit plan, determined as if the Participant had separated from service as of the close of the last Limitation Year beginning before January 1, 1987, when expressed as an annual benefit within the meaning of Code §415(b)(2). In determining a Participant’s Current Accrued Benefit, the Administrator will disregard any changes to the Plan after May 5, 1986, and any cost of living adjustment after May 5, 1986. The Current Accrued Benefit will only be used as set forth above if the defined benefit plans individually and in the aggregate satisfied the requirements of Code §415 for all Limitation Years beginning before January 1,1987.
Annual benefits shall be defined as being that sum which is equal to seventy percent (70%) of the annual salary being paid to the Employee during the last year the Employee has been in the Corporation's employ prior to his retirement date as hereinafter set forth, or prior to his death or disability as hereinafter set forth, reduced by a sum equal to the total amount otherwise being received by the Employee each year from the Savings Bank Employees Retirement Association and the portion of Social Security related solely to contributions made by the Corporation, and the term "salary" shall not include any total disability payments under the Corporation's long term disability program. The adjustment is to be made annually by reducing the following year's annual benefits by the total sums received by the Employee during the previous twelve (12) months from both the Savings Bank Employees Retirement Association and the portion of Social security related solely to contributions made by the Corporation. The period of employment that shall, be utilized to determine the aforegoing is the continuous period of employment of the Employee with the Corporation as it is presently constituted and subsequent to any merger with another banking institution or take-over of any type of the Corporation.