Final Annual Compensation definition

Final Annual Compensation means the Participant's Compensation earned during the twelve (12) consecutive complete months of employment with Employer prior to the Participant's Disability.

Final Annual Compensation means Employee's Base Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynolds and any compensation determined by the Board of Directors tx xx x xong-term incentive arrangement) earned by Employee during the three (3) calendar years preceding his termination of employment.

Final Annual Compensation means Holmxx' Xxse Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Holmxx xxxing the three (3) calendar years preceding his termination of employment.

Examples of Final Annual Compensation in a sentence

• For an Employee who begins receiving benefits under the Plan on or after July 1, 2017, the term Final Annual Compensation shall not exceed $95,000.00 for the purpose of calculating such benefits in accordance with Section 3.1.

• The Plan Administrator shall establish rules and procedures to be followed by Participants in filing applications for benefits and for furnishing and verifying proofs necessary to establish age, Years of Service, Final Annual Compensation, and any other matters required in order to establish determine their rights to benefits in accordance with the Plan.

• Benefits under the Plan shall cease upon the completion of the elected payment period.For a Participant whose period of service required under this Section commences before August 1, 2004, the amount of the monthly benefit shall equal one twelfth (1/12) of one percent (1%) of Final Annual Compensation multiplied by the number of obligated days as provided in subsections (a), (b) or (c) of this Section, divided by the duration of the payout period.

• The service retirement factors shall be multiplied by the Average Final Annual Compensation multiplied by the number of years and fractions of years of service credited to the retiree.

• For a Retired Participant, the Coverage Amount shall equal that portion of the Policy's death benefit equal to the greater of: (a) two (2) times the Participant's Final Annual Compensation; or (b) an amount equal to the premium that would be required to be paid to the Insurer for an annuity providing the Participant's spouse or beneficiary with a monthly benefit equal to the SERP Post-Retirement Survivor Benefit for the duration of the benefit consistent with the Participant's payout election.

More Definitions of Final Annual Compensation

Final Annual Compensation means the annual average determined by --------------------------- taking the sum of the total compensation paid to the Participant during the three (3) consecutive compensation years out of the Participant's final ten (10) years of employment with the Company which produce the highest three (3) year total amount, and dividing such sum by three (3).

Final Annual Compensation means Bausxxx'x Xxxe Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Bausxxx xxxing the three (3) calendar years preceding his termination of employment. (l) "Final Average Annual Compensation" shall mean the average of Bausxxx'x Xxxe Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xx determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Bausxxx'x xxxloyment terminates which yields the highest sum.

Final Annual Compensation means Employee's Base Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Employee during the three (3) calendar years preceding his termination of employment. (k) "Final Average Annual Compensation" shall mean the average of Employee's Base Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xx determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Employee's employment terminates which yields the highest sum. (l) "Pension Plan" shall mean the existing Reynxxxx xxx Reynxxxx Xxxpany Non-Union Pension Plan, as the same may be amended from time to time. (m) "Retirement Benefits" shall mean payments to Employee based upon his lifetime in an annual amount equal to a designated percentage of Employee's Final Average Annual Compensation or, in the case of Section 7(d) below, Final Annual Compensation, which shall be comprised of the sum of (i) Employee's primary Social Security retirement benefits when he is entitled to receive such benefit (age sixty-two (62)) [until that time an amount equal to the primary Social Security retirement benefit shall be paid to Employee from Reynxxxx' Xxpplemental Plan], (ii) Employee's pension benefits determined as a life annuity (without regard to actual payment form) under the Pension Plan and deferred compensation payments under the Non-Qualified Deferred

Final Annual Compensation means Holmxx' Xxse Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Holmxx xxxing the three (3) calendar years preceding his termination of employment. (k) "Final Average Annual Compensation" shall mean the average of Holmxx' Xxse Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xx determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Holmxx' xxployment terminates which yields the highest sum. (l) "Pension Plan" shall mean the existing Reynxxxx xxx Reynxxxx Xxxpany Non-Union Pension Plan, as the same may be amended from time to time. (m) "Retirement Benefits" shall mean payments to Holmxx xxxed upon his lifetime in an annual amount equal to a designated percentage of Holmxx' Xxnal Average Annual Compensation or, in the case of Section 8(d) below, Final Annual Compensation, which shall

Final Annual Compensation means Nevix'x Xxxe Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any

Final Annual Compensation means Proud's Base Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Proud during the three (3) calendar years preceding his termination of employment. (k) "Final Average Annual Compensation" shall mean the average of Proud's Base Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xx determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Proud's employment terminates which yields the highest sum. (l) "Pension Plan" shall mean the existing Reynxxxx xxx Reynxxxx Xxxpany Non-Union Pension Plan, as the same may be amended from time to time. (m) "Supplemental Plan" shall mean Reynxxxx' xxisting Supplemental Retirement Plan, as the same may be amended from time to time.

Final Annual Compensation means the Participant’s Compensation paid during the twelve (12) consecutive complete months of employment with Employer prior to the Participant’s Disability.