Final Earnings means, for a Participant, the average of his Base Salary plus annual incentive payments under the Management Incentive Plan for such calendar year actually received for the three most recent, full calendar years ending on or immediately before the date of the Participant’s Separation from Service with the Company and all Affiliates, or on or before the date of Participant’s death while employed with the Company or an Affiliate or on or before the date he is removed from active participation in the Plan pursuant to Section 2.2 hereof, as applicable.
Final Earnings means, unless otherwise specified in an appendix the average annual Earnings of the Participant during the three consecutive calendar years of his Continuous Service in which his Earnings were highest, and shall mean the average annual Earnings during his actual period of Continuous Service if such service is less than three calendar years.
Final Earnings means the Participant's Earnings for the year ending on the date a Change in Control under Section 2.7 occurs.
Examples of Final Earnings in a sentence
Final Earnings The average of the highest 3 years of annual basic pay.
The deduction shall be of an amount equal to 1.5/80 multiplied by the number of years by which the Member's Reckonable Service is enhanced under this Rule 5 and multiplied by the Member's Pensionable Final Earnings.
Compensation earned during part-time employment included in Service is converted to a full-time basis in the computation of Average Final Earnings.
While not specifically targeted at poverty reduction, the Project was located in areas where income levels are the lowest in Indonesia and provided temporary income to local villagers.
Any payments received after employment ends are not computed in Average Final Earnings.
More Definitions of Final Earnings
Final Earnings will be calculated as the sum of:
Final Earnings means the average Rate of Earnings during the three (3) years of the Participant's employment with the Employer for which the Participant's earnings exclusive of any severance pay or pay for accrued leave or supplemental rate of earnings, if applicable, per Section 25.17(B), were at their highest level.
Final Earnings means the Participant's Earnings in effect on the date of his termination of employment, except in the case of Disability, where the Final Earnings are the Earnings in effect on the last day preceding the Disability.
Final Earnings means the average annual Earnings of the Participant during the five consecutive calendar years of his Continuous Service in which his Earnings were highest, and shall mean the average annual Earnings during his actual period of Continuous Service if such service is less than five calendar years. For Senior Executives, “five” in the foregoing definition shall be read as “three”.
Final Earnings means the Employee’s highest average Earnings for any five (5) consecutive calendar years during the twenty (20) calendar years immediately preceding the earlier of his Normal Retirement Date, his Early Retirement Date, his Disability and Normal Retirement Date or his Deferred Vested Retirement Date. Notwithstanding the foregoing, effective as of December 31, 2016, “Final Earnings” means the Employee’s highest average Earnings for any five (5) consecutive calendar years during the twenty (20) calendar years immediately preceding the earlier of his Normal Retirement Date, his Early Retirement Date, his Disability and Normal Retirement Date, his Deferred Vested Retirement Date or January 1, 2017.”
Final Earnings means the Participant's highest average Rate of Earnings on any 5 consecutive January 1's during the last 10 years prior to the Participant's Retirement Date or Termination of Employment, if earlier.
Final Earnings for employees hired after April 15, 2014 shall be defined as "the highest average earnings received in any three full years of service before the Participant's retirement date." A year of service is defined as a year commencing 365 days prior to date of retirement, and ending on date of retirement. All other years of service shall be calculated back from date of retirement. Final Earnings shall include base pay only.