Current Compensation at Termination definition

Current Compensation at Termination means the sum of (A) the greatest of the Executive's base salary as of the date of termination of employment (or prior to any reduction thereof resulting in Good Reason for resignation) and for any of the three (3) immediately preceding calendar years, and (B) a dollar amount equal to the highest of the awards Executive received as bonuses in any of the three (3) calendar years preceding the year in which the termination of employment occurs, or preceding and including the year of termination of a bonus was previously paid in said year.
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Current Compensation at Termination means the sum of (A) the greatest of Executive’s Base Salary as of the date of termination of employment and for any of the two (2) immediately preceding calendar years, and (B) a dollar amount equal to one-half (1/2) of the sum of (I) the actual annual bonus received (or receivable) with respect to the calendar year preceding the year of termination and (II) the target bonus (calculated at 133% of then Base Salary) for the year of termination. Notwithstanding the foregoing, actual bonuses shall be included in the foregoing calculations only with respect to bonuses payable for years beginning after 2006 and in the event actual bonuses are not includable in the foregoing calculations as aforesaid, the currently applicable target bonus shall be used instead of such actual bonuses. By way of examples, if Executive’s date of termination occurs during 2007, the dollar amount computed pursuant to Clause (B) above will be equal to one-half (1/2) of the sum of (I) the target bonus (calculated at 133% of then Base Salary) for 2007 and (II) the target bonus (calculated at 133% of then Base Salary) for 2007. If Executive’s date of termination occurs during 2008 (after 2007 bonuses have been paid), the dollar amount computed pursuant to Clause (B) above will be equal to one-half (1/2) of the sum of (I) the actual 2007 bonus and (II) the target bonus (calculated at 133% of then Base Salary) for 2008.
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Examples of Current Compensation at Termination in a sentence

  • In the event SBI terminates Executive’s employment without Cause or for a reason other than one specified in Section 3(a) or (d), Executive shall be paid a lump sum amount in cash equal to the greater of (A) two (2) times his Current Compensation at Termination or (B) his Current Compensation at Termination for the remaining Employment Period immediately prior to the date of termination of his employment.

  • Executive shall be paid a lump sum amount in cash equal to three (3) times his Current Compensation at Termination.

  • In the case of termination by Executive by reason of Constructive Discharge, Executive shall be paid a lump sum amount in cash equal to two (2) times his Current Compensation at Termination.

  • For a period of the greater of one year from the date of termination of employment or the remaining term of this Agreement, Executive shall be paid his Current Compensation at Termination.

  • For a period of three years from the date of termination of employment, Executive shall be paid his Current Compensation at Termination.

Related to Current Compensation at Termination

  • Compensation Accrued at Termination means the following:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

  • 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)).

  • Final compensation of a member means:

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Additional Compensation has the meaning set out in Section 11.3(1).

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

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

  • Current Annual Compensation means the greater of:

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Normal Termination means termination of employment or service with the Company and Affiliates:

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • Company Termination Fee has the meaning set forth in Section 7.3(a).

  • Qualified Termination has the meaning set forth in Section 4(b).

  • Covered Termination means the termination of Executive’s employment by the Company without Cause or by Executive for Good Reason, and shall not include a termination due to Executive’s death or disability.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.

  • Compensation Event means any of the following events or circumstances if and to the extent that it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services, causes an Unavailability Event or causes Direct Losses to Project Co or any Project Co Person:

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Section 415 Compensation means: