Annual Variable Pay definition

Annual Variable Pay means any annual cash bonus paid to a participant by his employer pursuant to MetLife’s Annual Variable Incentive Plan (“AVIP”). Any other incentive pay, including grants under equity plans and amounts paid in cash under an equity or synthetic equity plan and any cash bonuses paid outside of AVIP, shall not be considered part of a Participant’s Annual Variable Pay.
Sample 1

Examples of Annual Variable Pay in a sentence

  • The Nomination and Remuneration committee vide circular resolution passed on May 15, 2019 recommended the remuneration of INR of 75,00,000/- per annum plus Annual Variable Pay not exceeding 25 % of the remuneration on cost to company (all inclusive) to be paid to Mr. Balu Nair as Managing Director & CEO of the Company.

  • Annual Variable Pay will be payable as per Company policy (as amended from time to time) subject to you being on the payroll of the Company on the date of disbursement of such bonus.

  • The Nomination and Remuneration Committee at its meeting held on January 19, 2021 approved the remuneration of INR 48,00,000/- per annum plus Annual Variable Pay of INR 24,00,000/- to be paid to the Managing Director for a period of one year from the date of his joining.

  • For calendar year 2012, Executive is invited to participate in Statoil’s Annual Variable Pay Plan (“AVP”) in accordance with the terms of the AVP as then in effect, with a target bonus of fifty percent (50%) of Executive’s annualized Base Salary and with a maximum bonus of one hundred percent (100%) of Executive’s annualized Base Salary, if applicable performance measures for Statoil are achieved.

  • For the purposes of the Annual Variable Pay element, Material Risk Takers represent those members of staff whose professional activities have a material impact on the risk profile of the bank.

  • The entire amount, if any, of a CEI Participant’s Annual Variable Pay Award shall be included in the CEI Participant’s Annual Compensation in the calendar quarter in which the Award is paid.

  • The Whole-time Director / KMP and Senior Management Personnel shall also be eligible for Annual Variable Pay (for the calendar year) as follows:Senior Executive Band (SEB) : 50% or 70% of Annual FixedPay as per group policy Executive Band (EB) : 35% of Annual Fixed Pay Senior Professional Band (SPB) : 15% of Annual Fixed Paysubject to fulfillment of the short and long-term performance objectives, as may be fixed for each official vis-à-vis the working/ performance of the Company.

  • Annual Variable Pay The annual variable pay is based on estimated performance achievement as at the balance sheet date and difference between the previous year’s estimation and actual pay-out in the current year.

  • For that period of "deemed employment," Annual Compensation shall not include an Annual Variable Pay Award.

  • Annual Variable PayIn addition to the above Fixed Compensation, you willbe eligible for Annual Variable Pay which is your performance linked incentive.

Related to Annual Variable Pay

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

  • Annual Fees means the annual fees charged by the Trustee for services provided as the trustee and paying agent under the Indenture.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial 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 Participant would be entitled under the terms of the Plan assuming:

  • Annual Retainer for a particular Director means the retainer (including any additional amounts payable for serving as lead Director or on any committee of the Board), payable to that Director for serving as a Director for the relevant Remuneration Period, as determined by the Board;

  • Annual Fee has the meaning stated in Section 4.02(a).

  • Annual Salary means the salary given under this Part.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

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

  • 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).

  • 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.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Current Annual Compensation means the greater of:

  • Annual Valuation Date means the Valuation Date each calendar year so designated by the Trust, commencing in the calendar year 2003.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

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

  • Salary as defined in Section 3.1(a).

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

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.