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.
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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.
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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 thirty (30) day period immediately following the date of Executive’s death.

  • 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.

  • Applicable Salary payments will be made in a single lump sum cash payment to Executive (less all required withholding) within the thirty (30) day period immediately following the date of Executive’s Disability.

  • Tecogen or ADG Energy will be allocated the cost of such services at a rate equal to the individual’s base salary times the Applicable Salary Rate in Exhibit A for each employee or consultant assigned, but Tecogen or ADG Energy will only be required to pay for such personnel while they are working on Tecogen or ADG Energy’s behalf.

  • The Company Final Salary Mass shall not be lower than the Company Initial Salary Mass by more than 10% on the last Applicable Salary Mass Test Date.

  • SECTION 13.1 - BASIC SALARY SCHEDULE Applicable Salary Schedule: The basic salaries of teachers covered by this Agreement are set forth in Appendix “A” Schedule Subject to Renegotiation: Such salary schedules shall remain in effect during the designated period.

  • 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.

  • Une telle préoccupation n’est pas reliée principalement à la régle- mentation sur le camionnage commercial.

  • 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.

  • In the event that a termination described in Section 9(a) occurs following a Change of Control of the Company (as defined below), Executive's Applicable Salary Severance Payment will be equal to Executive's Salary for twelve months following the Termination Date, as such Salary was in effect immediately prior to the Termination Date (but not taking into account any reduction in Executive's Salary on or after such Change of Control).

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.

  • 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 (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.

  • 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 the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in 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 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.

  • 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.

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • 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, 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.

  • Target Bonus means the target Bonus established for Executive, whether expressed as a percentage of Base Salary or a dollar amount.

  • 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.