lump sum compensation definition

lump sum compensation means such compensation as is mentioned in regulation 9;
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lump sum compensation. The lump sum compensation payable hereunder shall be equal to 2.999 times the average annual compensation includable in your gross income (without regard to the exclusion of any elective contribution or elective deferral under any plan qualified under Section 401(k) of the Code) for your most recent five taxable years ending before the date of such change in control; provided:
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lump sum compensation means compensation under regulation 10;
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Examples of lump sum compensation in a sentence

  • Such a Voluntary Termination of employment shall not terminate Executive’s right to receive the Lump Sum Compensation described in Exhibit 1 provided that he fulfills the conditions precedent to his receipt of such compensation as described in Exhibit 1.

  • He may also be entitled to receive the Lump Sum Compensation described in Exhibit 1 if he performs the conditions precedent to receipt of that compensation.

  • Except as otherwise provided in Section 5(a) of the Agreement relating to the Executive’s Voluntary Resignation or termination for Cause, Executive shall be entitled to Lump Sum Compensation of $2,500,000 so long as he abides by the provisions of section 9, 10 and 12 of this Agreement through March 31, 2009.

  • Xxxxxx Exhibit 1 Elements and Payment of Base Compensation Executive’s Base Compensation shall consist of the Salary and Lump Sum Compensation as described in this Exhibit 1.

  • In the event of Executive’s disability during the term of this Agreement: (A) Executive shall be entitled to receive his Salary paid up until the date of termination and, provided that Executive continues to comply with the obligations of sections 9, 10 and 12 of this Agreement, he shall be entitled to receive the full amount of the Lump Sum Compensation component of his Base Compensation, as described in Exhibit 1.

  • The Executive’s compensation during the term of this Agreement shall consist of (i) Salary, and (ii) Lump Sum Compensation, as described in Exhibit 1.

  • Executive shall be entitled as of April 15, 2009 to be paid the largest portion of the Lump Sum Compensation which will not be limited or eliminated by application of Section 162(m) of the Code.

  • In the event of Executive’s death during the term of this Agreement: (A) Executive shall be entitled to receive his Salary paid up until the date of death and shall be entitled to receive the full amount of the Lump Sum Compensation component of his Base Compensation, as described in Exhibit 1, except that all amounts payable shall be accelerated and payable within 90 days of Executive’s death.

  • Any portion of the Lump Sum Compensation otherwise payable that is delayed pursuant to this provision shall be paid at the earlier of (i) the date that the Company reasonably anticipates that the deduction of the payment of the amount will not be limited or eliminated by the application of Section 162(m) or (ii) the calendar year in which the Executive separates from service.

  • If Executive is a Covered Employee for such taxable year, the payment of the Lump Sum Compensation, or portion thereof, shall be delayed until the Company reasonably anticipates that the Company’s deduction with respect to such payment, or portion thereof, will not be limited or eliminated by the application of Section 162(m) of the Code.


More Definitions of lump sum compensation

lump sum compensation means compensation within paragraph 26(4)(c) or (e) of that Schedule.
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lump sum compensation. Lump Sum payment shall include all labor and expenses (for the scope of work as defined in the agreement) incurred by HWC and shall not exceed the fixed payment amount without prior authorization of the CLIENT. HWC shall submit monthly invoices to the CLIENT for the estimated portion of the total services actually completed at the time of the billing. The value of the lump sum services work completed is determined by multiplying the percentage of work completed by the total fee established. If additional engineering or other services, not listed within “Appendix “A” Services by HWC” related section of this agreement, are requested in writing by the CLIENT, HWC shall receive payment for such extra work, either by a lump sum fee determined and agreed to by the CLIENT and HWC prior to the commencement of such work and in writing, or on an hourly basis plus reasonable expenses as specified on the “Hourly Rates and Reimbursable Expenses Schedule” included herein. The “Hourly Rates and Reimbursable Expenses Schedule” identified in this Agreement are subject to change each December 31st without notification or modification to this Agreement. HWC Engineering 2024 Hourly Billing Rates Position Hourly Rate ($) Principal 250.00 Sr. Team Lead 230.00 Sr. Project Manager 210.00 Project Manager 180.00 Sr. Project Engineer 175.00 Project Engineer I 145.00 Project Engineer II 125.00 Sr. Designer/Technician 135.00 Designer/Technician 110.00 Project Coordinator 100.00 Landscape Architect I 135.00 Landscape Architect II 110.00 Planner I 135.00 Planner II 110.00 Project Surveyor I 140.00 Project Surveyor II 120.00 Survey Crew Lead I 125.00 Survey Crew Lead II 100.00 Survey Member I 90.00 Survey Member II 75.00 Clerical Support 80.00 Inspection Manager 185.00 Sr. Inspector 140.00 Construction Inspector I 120.00 Construction Inspector II 110.00 Intern 60.00 REIMBURSABLE EXPENSES • Direct Travel Expense - including mileage (the current rate allowed by the IRS), air fare, car rental, lodging, meals, large blueprint and copying runs, etc. • Large format black and white prints at $.40 per square foot. • Plots at $2.00 per square foot. • Black and white copies at $.10 per sheet. • Color copies at $.50 per sheet. • USB’s at $25.00 each. • Actual cost photographs and postage and other expenses. • Expenses will be billed at cost plus a 10% administrative fee.
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Related to lump sum compensation

  • Basic Compensation means Salary and Benefits.

  • Final compensation of a member means:

  • Retirement Benefit means the benefit set forth in Article 5.

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Subcontractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.