Insured Salary definition

Insured Salary means the greater of:
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Insured Salary means the salary definition relating to the calculation of basic benefit.
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Insured Salary means the salary definition relating to the calculation of Lump Sum Benefit.
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Examples of Insured Salary in a sentence

  • The amount of the Group Income Protection benefit will be 50% of your Insured Salary which is the rate of annual basic salary at the time you first became unable to work or if greater your total earnings for the whole of the preceding tax year.

  • Should it transpire that any of the details provided to us are incorrect or that there is a greater than 25% variation in the number of lives or total Insured Salary, we reserve the right to review the terms offered or terminate cover.

  • Custodian shall cooperate with the Trust's independent certified public accountants and shall take all reasonable action in the performance of its obligations under this Agreement, to assure that the necessary information is made available to such accountants.

  • The Premium will be calculated and charged based on a Premium Rate, which is expressed per £100 of Insured Salary.

  • Any fluctuating emoluments to be included within the definition of Insured Salary or Pensionable Salary will be averaged over the previous complete three years.

  • Extra-mandatory and partially independent pension fund Insured Salary from January 1, 2021Monthly salary x 12 plus year-end bonus plus 100% of target bonus, less coordination deduction of 129,060; maximum CHF 731,340 Benefits Savings Defined contributionDisability pension 70% of pensionable salaryLife annuity 56% of pensionable salaryOrphan’s pension 7% of pensionable salary FinancingBenefits under the Rules are financed by the employer.

  • The Premium is calculated based upon the total Insured Salary for all Members at the Commencement Date and subsequent Annual Revision Dates.

  • Executive hereby acknowledges and confirms that the Company’s contributions towards the Executive's Managers' Insurance Policy and/or the Pension Fund are and shall be in lieu of severance pay with respect to the Insured Salary, if Executive shall be entitled to such, according to Section 14 of the Severance Pay Law, 1963 and in accordance with the General Acknowledgement.

  • Executive’s contribution towards pension – 6% of the Insured Salary.

  • This information should be provided as a secure Excel file, and include the following information:• name;• gender;• date of birth;• Insured Salary and Pensionable Salary (where applicable);• category of Membership;• Pension Benefit (where a prospective pension is being insured).• date of joining;• date of leaving if appropriate; and• details of Members located overseas for more than 12 months (required annually only with provision of Core Benefit data).


More Definitions of Insured Salary

Insured Salary means an amount equal to 8 times the "market minimum wage", as shall be updated from time to time (currently NIS 42,400) or any other amount as shall be determined by the Ministry of Labor, Welfare and Social Services in accordance with the provisions of Section 28 to the Severance Pay Law, 1963. The Company shall continue to insure the Executive under an accepted ‘Managers’ Insurance’ plan (the “Managers’ Insurance Policy”), a Pension Fund (the “Pension Fund”) or a combination of both, at Executive’s choice, according to the following rates and conditions:
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Insured Salary the Monthly Salary.
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Insured Salary pursuant to this Section means the Average Salary in the Market, as defined in the “Expansion Order, for All Encompassing Pension Insurance in the Market.” In addition, the Employee shall contribute and for that purpose hereby irrevocably authorizes and instructs the Company to deduct from his Salary at source any contribution required to be paid by him to such Pension Fund, in accordance with Israeli law.
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Insured Salary means the greatest of: (c) the Member's Gross Salary; (d) the Member's annual rate of Pensionable Salary; (e) the annual average of the Member's Gross Salary or Pensionable Salary in the last three tax years before death; or (f) the Member's latest Reference Salary as notified to the Member by the Employer;
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Related to Insured Salary

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Salary as defined in Section 3.1(a).

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Annual Salary means the salary given under this Part.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Final compensation of a member means:

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Compensation Accrued at Termination means the following:

  • Basic Compensation means Salary and Benefits.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Termination Benefit means the benefit set forth in Article 7.