Applicable Salary definition

Applicable Salary means the Eligible Employee’s highest annual rate of salary in effect in the 18 months preceding the Termination Date before any salary reduction contributions to any plan under Code Section 125, 132(f) or 401(k), but excluding overtime, bonuses, equity awards, benefits, perquisites, imputed income, or other incentive or extraordinary payments.
Sample 1Sample 2Sample 3
Applicable Salary means, for purposes of determining a retirement benefit under the Plan, the Salary being paid for the office that the Member held at the time of the Member’s separation from service as a judge. However, for purposes of determining a disability retirement benefit to Members of the 1985 System or determining a retirement benefit to Members of the 1985 System who separated from service before January 1, 2010 and did not earn any Creditable Service under the Plan after December 31, 2009, Applicable Salary means the Salary being paid to the Member at the time of the Member’s separation from service.
Sample 1

Examples of Applicable Salary in a sentence

  • Applicable Salary payments will be made in a single lump sum cash payment to Executive (less all required withholding) within the sixty (60) day period immediately following the date of Executive’s separation from service.

  • A pension payable to a Member upon Vested Retirement shall be an amount as determined under Section 5.2 or 5.4, whichever is applicable, and based on the Member's Applicable Salary and Creditable Service at the Member’s separation from service.

  • Actuarial Cost Method Entry-Age Normal Actuarial Value of Assets Not Applicable Salary Increases 2.75% Discount Rate 3.72% Healthcare Cost Trend Rates 3.30% Initial5.00% Ultimate The discount rate was based on the Bond Buyer 20-Bond GO Index, which is based on an average of certain general obligation municipal bonds maturing in 20 years and having an average rating equivalent of Moody’s Aa2 and Standard & Poor’s AA.

  • Add new paragraph that additional consecutive 3-year use periods may be automatically renewed at 100% of Total Applicable Salary as defined in Paragraph 7 Supplemental Use.

  • All Use Fees are expressed as percentages of Total Applicable Salary.

  • Compensation Plan• 3.4 Applicable Salary Rate Under Following Conditions• C) Promotion.

  • Compensation Plan• 3.4 Applicable Salary Rate Under Following Conditions (Portion of Charter 6.4-1 Classifications Plans deleted reference Civil Service Commission; therefore removed from section)• B) Reinstatement from Resignation.

  • In terms of Collective Agreement 5 of 2006 which relates to ‘Improved Career Pathing for Qualified Post level 1 Educators and Accelerated Progression for all Educators on Applicable Salary Levels’, office based educators are eligible for a 1% salary increase subject to scoring a satisfactory rating in terms of their annual performance evaluation.

  • Early Retirement benefits under this Plan shall be shall be an amount equal to the benefit payable at Normal Retirement, based on the Member’s Applicable Salary and Creditable Service at separation from service, reduced by one- tenth of one percent (0.1%) for each month that the Member’s age as of the Retirement Effective Date precedes the Member’s 65th birthday.

  • The term “Excess Contributions” shall mean, with respect to an Eligible Employee Testing Group for a Plan Year, such amount (if any) of the aggregate Applicable Salary Deferral Contributions made on behalf of the Highly Compensated Eligible Employees in such group for the Plan Year that the Plan Administrator shall determine pursuant to Section 3.9 of this Plan causes noncompliance with the Actual Deferral Percentage Test.

Related to Applicable Salary

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

  • Annual Salary means the salary given under this Part.

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

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

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • 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.

  • 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.

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

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

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

  • Salary as defined in Section 3.1(a).

  • Pro Rata Bonus means an amount equal to the Bonus Amount multiplied by a fraction the numerator of which is the number of days in the fiscal year through the Termination Date and the denominator of which is 365.

  • Severance Period means the period of time commencing on the date of an occurrence of a Change of Control and continuing until the earlier of (i) the date which is one and one-half years following the occurrence of the Change of Control, and (ii) the Executive's death.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Final Salary means the average annual salary for service for which

  • Annual Compensation means an amount equal to the greater of:

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

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

  • Current Annual Compensation means the greater of:

  • Severance Amount means:

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year (excluding any special bonuses awarded for performance after the conclusion of the performance period), if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.