Incentive Earnings definition

Incentive Earnings means the excess of Net Income for any year over the greater of (a) an amount equal to 12% of Average Net Capital or b) an amount equal to $.375 multiplied by the average number of shares of the Corporation's Common Stock outstanding at the close of business on each day of the year assuming full conversion of the Corporation's Preferred Stock. The amount of Incentive Earnings shall be reported to the Committee by the Corporation's Treasurer as promptly after the close of the year as is practical; provided, however, that such Incentive Earning's and awards based thereon shall be adjusted downward, if necessary, to reflect the net income for the year certified by the Corporation's independent public accountants as adjusted as provided in II (5) above. In the event of stock split, stock dividend or other relevant change in the Corporation's capitalization, the Committee shall, subject to the approval of the Board of Directors, appropriately adjust such $.375 per share of the Corporation's Common Stock.
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Examples of Incentive Earnings in a sentence

  • Incentive Earnings commence at 80% of Target Performance and continue on a straight line basis i.e. if performance is 120% of Target Performance then Incentive Earnings at 80% of Basic Earnings OR for every 1% above 80% of performance 2% of Basic Earnings is earned.

  • Adjustment of Incentive Earnings Incentive earnings will continue to be calculated on the basis of hourly rates used on September to calculate incentive earnings.

  • Adjustment of Incentive Earnings earnings will continue to be calculated on the basis hourly rates used on September to calculate incentive earnings.

  • Schedule of Trainee Rates for Skilled Jobs Adjustment of Incentive Earnings .

Related to Incentive Earnings

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;