High Three Years definition

High Three Years means the period of three consecutive calendar years (i) ending with or prior to the year in which occurs an Involuntary Termination of Employment, a Change of Control or a Separation from Service due to Disability, Retirement or other voluntary termination of employment, as the case may be, and (ii) during which the sum of the Executive’s annual rate of base salary from the Company for those years is the greatest.
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High Three Years means with respect to a Participant the three consecutive Plan Years of his employment with a Controlled Group Member (or, if he does not have three consecutive Plan Years of such employment, his greatest actual number of consecutive Plan Years of such employment) during which he had the greatest aggregate Includable Compensation.
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Examples of High Three Years in a sentence

  • Subject to the provisions of subsections (f), (g) and (h), a Participant's Accrued Benefit, when expressed as an Annual Benefit (as hereinafter defined), shall not at any time during a Plan Year exceed the lesser of: (1) the Defined Benefit Dollar Limitation applicable to that Plan Year, or (2) 100% of the Participant's average annual Includable Compensation for his High Three Years (as hereinafter defined).

  • Except as otherwise provided in this Section, a Participant's Accrued Benefit, when expressed as an Annual Benefit, will not at any time during a Limitation Year exceed the lesser of (i) the Defined Benefit Dollar Limitation applicable to that Plan Year, or (ii) 100% of the Participant's average annual Includable Compensation for his High Three Years.

  • A Participant's High Three Years shall be the three consecutive Plan Years of his employment with the Company or Affiliated Company (or, if he does not have three consecutive Plan Years of such employment, his greatest actual number of consecutive Plan Years of such employment) during which he had the greatest aggregate Includable Compensation.

  • If a Participant has less than ten years of Benefit Service at his Benefit Commencement Date, the limitation set forth in subsection (a) with respect to a Participant's average Includable Compensation for his High Three Years and the limitation set forth in subsection (f) shall be reduced by multiplying such limitations by a fraction, the numerator of which is his years of Benefit Service (or portion thereof), and the denominator of which is ten.

Related to High Three Years

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • Step Three The issue shall be referred to mediation. The parties shall request a mediator from the Federal Mediation & Conciliation Service or other mutually acceptable services. This person shall serve as the mediator to resolve the dispute. The expense of employing the mediator shall be borne equally by both parties and each party shall be responsible for their own attorney fees and costs. Should the parties fail to reach agreement, the matter shall proceed to Step Four.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • One year means 365 calendar days as required in federal regulations.

  • Years mean and refer to calendar year(s).

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • 12-Month Period means a rolling 12-month period measured backward from the date leave is taken and continuous with each additional leave day taken.

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Gas Year means the period of 365 or 366 Gas Days, as the case may be, beginning at October 1st at 06:00 hours (Belgian time) and ending at September 30th 06:00 hours (Belgian time) of the next year.

  • Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Crop year means any 12 month period which represents the planting, growing, harvesting and marketing of an insurable crop, as stated in the Schedules;

  • months shall be construed in accordance with Clause 1.3;

  • Year means a calendar year.

  • Acquisition Period means the period ending five (5) business days prior to

  • Remaining Dollar-Years means the amount obtained by (1) multiplying the amount of each then-remaining principal payment on such Debt by the number of years (calculated at the nearest one-twelfth) that will elapse between the date of determination of the Weighted Average Life to Maturity of such Debt and the date of that required payment and (2) totaling all the products obtained in clause (1) above.

  • Pre-Funding Period means the period beginning on the Closing Date and ending on the earliest of (a) the date on which the amount on deposit in the Pre-Funding Account is less than $10,000, (b) the Funding Termination Date or (c) the date on which an Event of Termination occurs.

  • Anniversary Year The one-year period beginning on the Closing Date and ending on the first anniversary thereof, and each subsequent one-year period beginning on the day after the end of the preceding Anniversary Year and ending on next succeeding anniversary of the Closing Date.

  • old financial year means the financial year of an issuer that immediately precedes a transition year;

  • Four Quarter Period has the meaning set forth in the definition of “Consolidated Fixed Charge Coverage Ratio.”

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

  • Rolling Period means, as of any date, the four Fiscal Quarters ending on or immediately preceding such date.