Average Monthly Income definition

Average Monthly Income means your average net monthly earnings (including the cost of fringe benefits and share of total surplus) after business expenses and before taxes, for the immediately preceding 12 month or 24 month (if higher) period. Excludes income from interest, dividends, rent, royalties, annuities, other insurance and other income for which no service or work is performed.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Average Monthly Income means, for determining finan- cial means, the annual gross income of an individual or the adults in a family, including salaries, wages, public assistance payments, tips, commissions, unemployment payments, rents, royalties, div- idends, interest, profits, pensions, annuities, and other income, divided by 12.

Average Monthly Income means EMPLOYEE's annual base salary divided by twelve (12).

Examples of Average Monthly Income in a sentence

For each month in the calendar year being reconciled, Funder will add the Average Monthly Income Change amount to the Individual Earned Income Estimate value used to calculate the Monthly Payment Obligation for that month to determine a “Reconciled Individual Earned Income Estimate” for that month.
Indicator 1: Share of vulnerable employment18 15 years and above in the labour force (disaggregated by sex) (%) Note: No disaggregation available by ethnicity, migratory (registration) status, urban/rural, region Baseline (2009): 61.5% (33.6% female) Target (2016): To be determined MoV: Labour Force Survey (LFS) Indicator 2: Female to Male Average Monthly Income Ratio (disaggregated by sector, industry, occupational level) (thousand VND as at 01/09/2009) Note: LFS 2009 calculates income not wage.
The term "Average Monthly Income" shall mean EMPLOYEE's annual base salary divided by twelve (12).
For each month in the calendar year being reconciled, Funder will add the Average Monthly Income Change amount to the Individual Earned Income Estimate value used to calculate the Monthly Payment Obligation for that month to determine a "Reconciled Individual Earned Income Estimate" for that month.
Upon the occurrence of a Termination, MEEMIC hereby agrees to pay to EMPLOYEE as severance pay, an amount equal to the mathematical product of EMPLOYEE's Average Monthly Income (as defined in Section 3) multiplied by the sum, which for purposes of this section shall NOT exceed eighteen (18) plus one month for every year up to a maximum of twenty-four (24) months of employment years with MEEMIC then completed by the EMPLOYEE ("Severance Amount").
To calculate the Reconciliation Payment Amount, Funder will calculate an "Average Monthly Income Change" by dividing by twelve (12) the difference between the Tax Return Individual Earned Income and the Total Estimated Individual Earned Income for the calendar year being reconciled.

More Definitions of Average Monthly Income

Average Monthly Income means total annual gross income divided by twelve.

Average Monthly Income means the amount of all income, converted to a monthly basis if not paid in that manner, accruing to the claimant at the time of the claimant's request for waiver.

Average Monthly Income means the basic rate of of monthly compensation, including commissions, for the immediately preceding tax year (or two tax years if it produces a higher average) before deduction of any income taxes and after deduction of business expenses that are deductible for income tax purposes.

Average Monthly Income means gross income divided by