Annual wages definition

Annual wages is defined as total wages paid since the last payment of vacation pay. Vacation accrual – After the first year of service, vacation entitlements shall be determined on the basis of an employee's service accrued as of the employee's anniversary date. Increases in vacation pay and entitlement shall be effective on the employees anniversary date.
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Annual wages means, in relation to a person, the amount determined by the Board as the wages or salary payable in a year to that person, having regard to his ordinary remuneration, excluding amounts payable in respect of overtime;
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Annual wages means, in relation to an employee at a particular time, the amount determined by the Board as the amount of wages or salary payable at that time on an annual basis to that employee, having regard to his ordinary remuneration but disregarding amounts payable in respect of overtime;
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Examples of Annual wages in a sentence

  • The records shall contain: Each employee’s name and address; Each employee’s job title and classification; The number of hours worked each day by each employee; The gross wages and deductions made for each employee; and Annual wages paid to each employee.

  • Annual wages are simply the sum over weekly wages for the year defined above, which are deflated by the gross national product deflator, with 2000 as the base year.3 Military pay grade information is not used.

  • As can be seen from Table 3, it is obvious that healthy companies hold the largest proportion of independent directors, compared with a lowest proportion for delisted companies.

  • If an absence pursuant to General Municipal Law Section 207-C extends beyond the first year the unit member will receive the following benefits: Annual wages and longevity (Sections 8.1.1 and 8.1.2) Medical/hospitalization (Section 11.1) - the coverage that the unit member had (family or individual) as of the date the 207-C leave commenced shall be continued on the same terms as it is provided to active unit members.

  • During the first year (365 days) of absence pursuant to General Municipal Law 207-C the unit member will receive the following benefits: Uniform Allowance (Section 13.1) Paid holidays (Section 9.1) Vacation accruals (Section 9.2) Annual wages and longevity (Sections 8.1.1 and 8.1.2) Medical/hospitalization (Section 11.1) - the coverage that the unit member had (family or individual) as of the date the 207-C leave commenced shall be continued on the same terms as it is provided to active unit members.

  • They found that older workers no longer enjoy the same wage increases as in the past.8 Annual wages are calculated as the total of monthly wages multiplied by 12 plus bonuses paid the previous year.

  • Annual wages for each employee shall be calculated for each contract year (July 1-June 30) based on the hourly wage rates set forth in the Collective Bargaining Agreement.

  • The Lenders consent to the Borrower's sale of its equity interest in its OCM Direct, Inc.

  • Annual wages, for approximately 550 employees, exceed $30 million payroll annually.

  • The Annual wages, salaries and other monetary earnings must consist of the normal wages, food and housing allowances, overtime payments, bonuses and annual wages supplements but excluding travelling allowances and employers’ CPF contributions.

Related to Annual wages

  • Total wages , in relation to any year, means the total of the ordinary and additional wages in that year received by an employee;

  • 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 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 Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • relevant minimum wage means the minimum wage and includes any incremental adjustment prescribed in this award for the class of work for which an employee is engaged

  • 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.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • 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 (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • Annual payroll means the total amount of wages subject to contributions during a twelve-month period ending with the last day of the second calendar quarter of any calendar year.

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.

  • Annual income means all amounts, monetary or not, which:

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • 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.

  • Annual Salary means the salary given under this Part.

  • 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.

  • Annual Leave and Clause 6.3 “Personal (Sick) Leave” of this Agreement.

  • Applicable Wages means the basic straight time wages for all hours worked, including:

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • 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.

  • Average Annual Compensation shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • 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.

  • Access Compensation is the compensation paid by one Party to the other Party for the origination/termination of intraLATA toll calls to/from its End User. Access compensation is in accordance with the LEC’s tariffed access rates.

  • Minimum wage means wages as defined under the Minimum Wages Act-1948 and amended from time to time.

  • 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;

  • Final compensation of a member means: