Annual Salary Amount definition

Annual Salary Amount means a Participant’s annual base salary in effect on the Termination Date (or in the case of a Change in Control Termination, if greater, immediately before any reduction in such base salary giving rise to Good Reason), without reduction for any pre-tax contributions to benefit plans or state or federal taxes. Base salary does not include bonuses, commissions, premium pay, cost of living allowances or income from stock options, stock grants or other incentives.
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Annual Salary Amount means an Eligible Individual's annual base salary as in effect immediately prior to his or her Termination Date.
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Examples of Annual Salary Amount in a sentence

  • You will be paid in 26 bi-weekly installments based upon an annual rate of $Annual Salary Amount.

  • As a material inducement to Employee to enter into this Agreement, Employer agrees and intends that the covenant of Employer to pay the Annual Salary Amount at the times and in the manner set forth in this Paragraph 2 (a) is an independent covenant, and Employer is and intends to be unconditionally obligated to pay the Annual Salary Amount without setoff or deduction and regardless of any breach of this Agreement by Employee or any other claims or defenses to payment Employer may have against Employee.

  • The severance benefit shall be an amount equal to 1.5 times the most recent recommended salary by the Compensation Committee for the Executive(such amount hereafter referred to as the "Annual Salary Amount").

  • During the Term of this Agreement, the Company shall pay the Executive a Base Salary in an amount which shall be established and approved by the Compensation Committee of the Board of Directors; provided, however, that such Base Salary shall be established at a rate of not less than [Annual Salary Amount] per year.

  • The Employee will be paid the Annual Salary Amount set out in Schedule 2 (gross) per annum, which will be paid in arrear net of tax and any agreed deductions, as set out in Schedule 2.

Related to Annual Salary Amount

  • 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.

  • Annual Salary means the salary given under this Part.

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

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