Final Average Monthly Earnings means a Participant’s average monthly Earnings during the 60 consecutive calendar month period ending on the last day of the last full month immediately preceding or coinciding with the date on which the Participant’s employment with the Company or an Affiliate terminates. Months completed prior to the Plan’s Effective Date shall be taken into account in computing a Participant’s Final Average Monthly Earnings. In the event that a Participant does not have 60 consecutive full calendar months of employment with the Company or an Affiliate, the average shall be based on the Participant’s actual number of consecutive full calendar months of employment.
Final Average Monthly Earnings means 1/60 of the total Earnings received by the Participant in the five consecutive calendar year period during which such total Earnings are the highest. If a Participant who was credited with Periods of Service and/or Credited Service under Section 6.2 as a Disabled employee received Earnings before and after the Disability period, the Disability period shall be disregarded in computing consecutive calendar years so that Earnings received immediately before and after the Disability period shall be deemed to have been paid in consecutive periods. If a Participant becomes entitled to a benefit under the Plan before he or she has received Earnings for a period of five consecutive calendar years, such Participant’s Final Average Monthly Earnings shall be determined by dividing the total Earnings the Participant has received during the full and partial calendar years of his or her employment by the number of months during which such Earnings were received. The Final Average Monthly Earnings of a Participant who has had a Termination shall be determined by taking into account any severance payments to which the Participant is entitled, whether or not the Participant has yet received such payments.Notwithstanding the foregoing, on and after a Participant’s Freeze Date, the Participant’s Final Average Monthly Earnings shall equal his or her Final Average Monthly Earnings determined as of such Freeze Date.
Final Average Monthly Earnings means the average of monthly earnings during the three consecutive years, within the last ten years of service prior to retirement date or date of termination, in which earnings were the highest.
Examples of Final Average Monthly Earnings in a sentence
The total amount of Lump Sum Award (LSA) payments made pursuant to Article 11 and before the employee’s Termination of Employment, divided by 60, will be added to the employee’s Final Average Monthly Earnings under the BCERP.
Final Average Monthly Earnings will continue to include the highest average Basic Annual Compensation Rate over any period of 60 consecutive months during the employee’s last 120 months of service, and Employee Incentive Plan payments, per the terms of the BCERP.
Final Average Monthly Earnings continues to include the highest average Basic Annual Compensation Rate over any period of 60 consecutive months during the employee’s last 120 months of service, and Employee Incentive Plan payments, per the terms of the BCERP.
The total amount of Lump Sum Award (LSA) payments made pursuant to Article 4 and before the employee’s Termination of Employment, divided by 60, will be added to the employee’s Final Average Monthly Earnings under the BCERP.
The total 18 amount of Lump Sum Award (LSA) payments made pursuant to Article 4 and 19 before the employee’s Termination of Employment, divided by 60, will be added to 20 the employee’s Final Average Monthly Earnings under the BCERP.
More Definitions of Final Average Monthly Earnings
Final Average Monthly Earnings means an amount equal to the average of the Participant's monthly "Earnings" for the highest 60 consecutive complete calendar months during the 120 consecutive complete calendar months immediately preceding the earliest to occur of the events described in 2.3 or the Participant's Normal Retirement Date. However, if a Participant's Earnings are recalculated under 3.3 to reflect a reduction in deferred Management Incentive Plan credits actually paid to such Participant, his or her Final Average Monthly Earnings shall be recalculated at the same time. Nevertheless, no such recalculation shall be performed in any case following the occurrence of a Section 11 Event.
Final Average Monthly Earnings means “Final Average Salary” as such term is defined in the Pension Plan and the Prior Pension Plan, respectively, but determined without regard to the Compensation Limit and including any amounts that would otherwise be excluded from such calculation because of being contributed to a Plan of Deferred Compensation.
Final Average Monthly Earnings means one twelfth of the highest average annual Earnings received by the Participant during any five consecutive calendar year period. In the event the Participant has less than five consecutive years of employment, the computation period shall be based upon (1) the most recent five years of employment (whether or not consecutive), or (2) the total Period of Service with the Employer, whichever is less.
Final Average Monthly Earnings means the highest average monthly Earnings received by the Participant during any 60 consecutive month period within the last consecutive 120 months prior to the earlier of termination of employment or the Freeze Date. In the event the Participant has been employed for less than 60 consecutive full months, the computation period shall be based upon (1) the most recent 60 full months of employment (whether or not consecutive), or (2) the total full months of employment. Months during which no Earnings were credited shall be counted for purposes of calculating Final Average Monthly Earnings.
Final Average Monthly Earnings means the highest average monthly Earnings received by the Participant during any 60-consecutive-month-period. In the event the Participant has been employed for less than 60 consecutive months, the computation period shall be based upon (1) the most recent 60 months of employment (whether or not consecutive), or (2) the total period of employment, whichever is less.
Final Average Monthly Earnings means the highest average monthly Earnings received by the Participant during any 60-consecutive-month period within the last consecutive 120 months prior to the earlier of (i) the Participant's Termination, or (ii) the Freeze Date.
Final Average Monthly Earnings means one twelfth of the highest average annual Earnings received by the Participant during any sixty (60) consecutive month period. In the event the Participant has less than 60 consecutive months of employment, the computation period shall be based upon (1) the most recent sixty (60) months of employment (whether or not consecutive), or (2) the total Period of Service with the Employer, whichever is less. Earnings for partial years are pro-rated.