Eligible Base Salary definition

Eligible Base Salary means for any Participant, the portion of the Participant's Base Salary that exceeds the dollar limit in effect at the time of Election Date under § 401(a)(17) of the Internal Revenue Code of 1986, as amended (the "Code").
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Eligible Base Salary means that portion of the Base Salary payable following the attainment of the Limit during the Plan Year.
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Eligible Base Salary means the amount of Base Salary for a Plan Year in excess of the limit for that Plan Year under section 401(a)(17) of the Code; provided that, in determining Eligible Base Salary for a Plan Year, the Plan Administrator may disregard all or part of any Base Salary earned before an Eligible Employee becomes an Active Participant.
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Examples of Eligible Base Salary in a sentence

  • In the event such cooperation requires more than a nominal amount of the Executive’s time following the termination of his employment with the Company and the Bank, the Executive shall be compensated for his time at a per diem rate based on his Bonus Eligible Base Salary in effect immediately prior to his termination of employment with the Company and the Bank.

  • In such event, the Company shall pay Executive's Eligible Base Salary (as defined in Section 6(a) above) for a period of twelve (12) months following the date of Executive's death in the manner otherwise payable hereunder, to such person or persons as Executive shall have directed in writing or, in the absence of a designation, to his estate (the "BENEFICIARY").

  • The target aggregate grant date fair value of each annual long-term equity incentive grant shall be 100 percent of the Executive’s Bonus Eligible Base Salary, provided that the actual amount of any such award shall be determined in the reasonable discretion of the Compensation Committee (after consultation with the CEO).

  • The Executive’s target Annual Bonus shall be 100 percent of his Bonus Eligible Base Salary (the “Target Annual Bonus”), provided that the actual amount of the Annual Bonus for each fiscal year shall be determined by the Compensation Committee (after consultation with the CEO) and may be between 0 percent and 200 percent of the Target Annual Bonus.

  • If Executive's death occurs while he is receiving payments for Disability under Section 6(a) above, such payments shall cease and the Beneficiary shall be entitled to the payments and benefits under this subsection (b), which shall continue for a period of twelve months thereafter at the full rate of Executive's Eligible Base Salary (as defined in Section 6(a)(iii)).

  • Each Eligible Employee may elect to defer receipt of Eligible Base Salary, Eligible Short-Term Incentive, and Other Eligible Compensation in accordance with this Article 4.

  • After such 240-month (or shorter) period, Retirement Contribution Credits equal to 7% of the Participant's Eligible Base Salary shall be added to the Participant's Retirement Contribution Sub-Account for each month that the Participant is a Senior Manager and earns Eligible Base Salary.

  • In such event, the Company shall pay Executive’s Eligible Base Salary (as defined in Section 6(a) above) for a period of twelve (12) months following the date of Executive’s death in the manner otherwise payable hereunder, to such person or persons as Executive shall have directed in writing or, in the absence of a designation, to his estate (the “Beneficiary”).

  • For purposes of clarity, (x) the Executive’s Gross Base Salary and Bonus Eligible Base Salary shall be reviewed and/or redetermined independently, therefore any change to the Bonus Eligible Base Salary shall not automatically result in a corresponding change to the Gross Base Salary and any change to the Gross Base Salary shall not automatically result in a corresponding change to the Bonus Eligible Base Salary and (y) in no event shall the Gross Base Salary be lower than the Bonus Eligible Base Salary.

  • The Bonus Eligible Base Salary shall be redetermined annually by the Compensation Committee, in its sole discretion, in consultation with the CEO; provided that the Bonus Eligible Base Salary shall not be reduced except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company.


More Definitions of Eligible Base Salary

Eligible Base Salary means Executive’s base salary as in effect immediately prior to the Termination Date.
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Eligible Base Salary means, for the purpose of bonus calculations, the average annual rate of pay for the calendar year, excluding all other compensation paid to the employee during the year, e.g. bonus, commissions, employee benefits, moving expenses, and any imputed income for which the Participant may be eligible.
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Related to Eligible Base Salary

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • 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.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Annual Salary means the salary given under this Part.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.