Average Annual Income definition

Average Annual Income shall be calculated as the sum of the Employee’s Annual Base Pay and Annual Cash Bonus for the preceding five (5) fiscal years of the Employer divided by five (5). The severance pay will be paid to the Employee within the period specified in Section 10(b)(3) below after the expiration of any applicable revocation periods set forth in the Release. This severance payment will not be considered compensation for the purpose of any other fringe benefit plan of the Employer.
Sample 1Sample 2
Average Annual Income means the average of the gross income derived by the assessee from the life interest during each year of the period ending on the valuation date, reduced by the average of the expenses incurred on the collection of such income in each of those years :
Sample 1Sample 2Sample 3
Average Annual Income shall be calculated as the sum of the Employee’s Annual Base Pay and Annual Cash Bonus for the preceding three (3) fiscal years of the Employer divided by three (3). The severance pay will be paid to the Employee at the regular pay dates of the Employer in equal payments over a twenty-four (24) month period commencing after the expiration of any applicable revocation periods set forth in the Release (as defined below). This severance payment will not be considered compensation for the purpose of any other fringe benefit plan of the Employer. The Employer shall also pay the premiums associated with the continuation of the life insurance and health insurance benefits that the Employee was provided by the Employer as of the date of termination during the period of time that the severance payments are due hereunder.
Sample 1

Examples of Average Annual Income in a sentence

  • To calculate home energy burden for each household reported in Section B1, the grantee will need to use their database (or a spreadsheet tool like Excel or Access) to add together each household’s Main Heating Bill + Annual Household Electricity Bill and divide by the household’s Average Annual Income.

  • If the Employer terminates the Employee’s employment without Cause or the Employee terminates the Employee’s employment for Good Reason, and such termination is coincident with or within an eighteen (18) month period following the occurrence of a Change in Control, the Employer shall pay Employee severance pay in an amount equal to 2.99 multiplied by the Employee’s Average Annual Income.

  • Must be having minimum Average Annual Income of Rs.15 Crore (Rupees Fifteen Crore) during the last THREE (03) Financial Years i.e. from 2019-20 to 2021-22.

  • The resources currently used for VOT unit cost values at SDDOT are from the U.S. Census for South Dakota Average Annual Income (U.S. Census 2011) and theU.S. Department of Labor for the cost per minute values of passenger cars and trucks (U.S. DOL 2011), respectively.

  • Table 10.4: Comparison of Ethnic Minority Average Annual Income among AP population Area of ImpactAP IncomeEM Income% Dif.

  • Average Annual Income KShs P.a. Accounts or income tax returns if any.

  • See Table 3-11.Table 3-11 Average Annual Income of affected people by sex in Tacheng City from Jan.

  • However, their method is still hard to deal with the 1-N and the N-1 mismatch prob- lems between natural language and target ontolo- gies.

  • Must be having minimum Average Annual Income of Rs.150 Lakh during the last 3 Financial Years i.e. from 2017-18 to 2018-19 and 2019-20.

  • Table 14: Average Annual Income of the Affected Households (NRs.)Income RangeAffected householdsNo.Source: Field Surveys, February 2016 34.


More Definitions of Average Annual Income

Average Annual Income means an amount equal to (A) the sum of Employee’s annual base salary and annual cash bonuses for the three (3) fiscal years of Employer preceding the date of Employee’s termination of employment divided by (B) three (3).
Sample 1
Average Annual Income shall be calculated as the sum of the Employee’s Annual Base Pay and Annual Cash Bonus for the preceding three (3) fiscal years of the Employer divided by three (3). The severance pay will be paid to the Employee no later than 60 days after the date of termination after the expiration of any applicable revocation periods set forth in the Release (as defined below). This severance payment will not be considered compensation for the purpose of any other fringe benefit plan of the Employer. To the extent the Employee elects to continue health insurance coverage under COBRA, the Company will pay the premiums for such coverage for a period of up to eighteen (18) months under the terms specified in Section 10(d)(1) below. The Employer shall also pay the Employee, no later than 60 days after the date of termination, a lump sum cash payment of $15,000 in order to cover the cost of post-termination benefit coverage and expenses associated with seeking another employment position.
Sample 1
Average Annual Income shall be calculated as the sum of Employee’s annual base salary and annual cash bonuses for the preceding three (3) fiscal years of Employer divided by three (3). The severance pay will be paid to Employee no later than sixty (60) days after the date of termination, subject to the conditions of Section 10(f). The severance pay will not be considered compensation for the purpose of any other fringe benefit program of Employer. To the extent Employee elects to continue health insurance coverage under COBRA, Employer will pay the premiums for such coverage for a period of up to eighteen (18) months under the terms specified in Section 10(d)(i) below.
Sample 1

Related to Average Annual Income

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Average annual payroll means the average of the annual

  • 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;

  • Average Annual Debt Service means, at the time of calculation, the sum of the Annual Debt Service for the remaining years of the loan to the last scheduled maturity of the loan divided by the number of those years.

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Semi-Annual Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions--Semi-Annual Distributions" in the Prospectus Part I for a Trust.

  • Semi-Annual Period means each period of six-months, commencing on the first day of a Fiscal Year; provided that the first such period shall begin on July 1, 2013 and end on December 31, 2013.

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

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

  • 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 monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarially 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 Member would be entitled under the terms of the plan assuming:

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Base Period Income Base Period Income" is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Valuation Percentage means, for any item of Eligible Collateral, the percentage specified in Paragraph 13.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • 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.

  • Quarterly Excess Spread Percentage means, for each Determination Date, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Average weekly discharge limitation means the highest allowable average of "daily discharges'' over a calendar week, calculated as the sum of all "daily discharges'' measured during a calendar week divided by the number of "daily discharges'' measured during that week. Each of the following 7-day periods is defined as a calendar week: Week 1 is Days 1 - 7 of the month; Week 2 is Days 8 - 14; Week 3 is Days 15 - 21; and Week 4 is Days 22 - 28. If the "daily discharge" on days 29, 30 or 31 exceeds the "average weekly" discharge limitation, Ohio EPA may elect to evaluate the last 7 days of the month as Week 4 instead of Days 22 - 28. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.