Economic Compensation definition

Economic Compensation has the definition set forth in the Operating Principles.
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Economic Compensation means the amount equal to the Severance Multiple times the sum of (x) Participant’s Monthly Base Salary plus (y) one-twelfth (1/12) of Participant’s Annual Bonus (at target). For the avoidance of doubt, Economic Consideration shall be the minimum amount payable under Section 3(a) and shall be considered inclusive of amounts payable with respect to Statutory Severance Pay and Non-compete Compensation to the extent that the total sum of the Statutory Severance Pay and Non-compete Compensation is less than the Economic Compensation.
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Economic Compensation means the total amount of compensation that Seller expects to communicate to an applicable employee at fiscal year-end, which amount does not reflect amortization of prior year long-term incentive awards or xxxx-to-market adjustments of deferred compensation or other long-term incentives.
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Examples of Economic Compensation in a sentence

  • Additional family member appointment19 requirements are set forth in Article 6, Economic Compensation, Section 6.9,20 HCA Family Member Appointments.

  • According to the Regulation of Economic Compensation due to Labor Contract Violation or Termination (Lao Bu Fa [1994] No.481), employers should pay workers whose contracts are being terminated a lump-sum severance pay amounting to one monthly way per year of service with the employer, up to a maximum of 12 monthly wages (no maximum is mandated for workers who are unable to reemploy following illness or injury).

  • CERTAIN KEY CONSIDERATIONS The following are a few key considerations that should be discussed prior to using this template, and that may require changes or supplemental materials depending on the circumstances of the parties using this template: Economic Compensation There are a number of different options for payment and economic compensation for the relationship between the solar site operator and the beekeeper.

  • Unfortunately we received no suitable applications, and will therefore need to reconsider how best to use the remaining hours.

  • After the promulgation of the Labor Law, the Ministry of Labor issued the Regulations on Economic Compensation for Violation and Termination of Labor Contracts.102 In this document, specific economic compensations were clearly prescribed so as to address issues arising from the violation and termination of labor contracts.

  • The CEO and the Director and General Counsel are entitled to a Deferred Economic Compensation in the event of termination of their relation with the Company, equivalent to three years’ total monetary remuneration, plus one year’s total monetary remuneration in compensation for the non-competition agreement for the year following termination.

  • This Economic Compensation is additional, shall not be an integral part of the salary, does not constitute taxable income for Social Security nor for theworker’s income tax, and shall strictly be temporary in nature until the Honourable Salary is achieved.

  • In case the amount described before does not cover all of the Honourable Salary of all workers with rights to the Economic Compensation, the latter shall be proportionately divided amongst said workers, this compensation coming from the difference between the components of a Honourable Salary and the Honourable Salary as stated in Art.

  • The "Economic Compensation Agreement for Subsequent Matters after the Period for the Major Asset Restructuring of Shenzhen Victor Onward Textile Industrial Co., Ltd." and the "Supplementary Agreement on the Economic Compensation Agreement for Subsequent Matters after the Period for the Major Asset Restructuring of Shenzhen Victor Onward Textile Industrial Co., Ltd.", and fulfilled the necessary review procedures for information disclosure obligations.

  • On March 17, 2018, the company and Union Development Group and Mr. Chen Lue signed a Supplementary Agreement on Agreement on the Economic Compensation for the Events after the Major Asset Restructuring Period of Shenzhen Victor Onward Textile Industrial Co., Ltd..


More Definitions of Economic Compensation

Economic Compensation means the consolidated amount equivalent to the gross salary per month that an employee was entitled to as per his / her last pay slip and calculated on full attendance, without considering any increment, whatsoever, either with retrospective or with prospective effects and after deducting all applicable Taxes as per the Law of the Land.
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Related to Economic Compensation

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

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

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Earnable compensation means the full rate of the

  • Final compensation of a member means:

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

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

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.