Maximum Annual Salary definition

Maximum Annual Salary means the maximum amount of Salaries and Unlikely Bonuses a player is eligible to receive in the first Salary Cap Year covered by a Contract or Extension as calculated in accordance with Article II, Section 7.
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Maximum Annual Salary means, for a calendar year, the amount of salary which produces an annual pension amount under Section 5.01 which is equal to the maximum annual pension applicable for that calendar year under Section 5.06(a)(i). For this purpose, the YMPE for the calendar year and one (1) year of Pensionable Service will be used for the calculation under Section 5.01.
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Examples of Maximum Annual Salary in a sentence

  • Any such Rookie Scale Extension (including any such Designated Rookie Scale Player Extension) shall be deemed amended on July 1 of the Salary Cap Year covering the first Season of the extended term to provide for specific Salaries for each Season of the extended term, based on the Maximum Annual Salary applicable to such player on such July 1.

  • Any such Designated Veteran Player Extension shall be deemed amended on July 1 of the Salary Cap Year covering the first Season of the extended term to provide for specific Salaries for each Season of the extended term, based on the Maximum Annual Salary applicable to such player on such July 1.

  • Any such Rookie Scale Extension (including any such Designated Player Rookie Scale Extension) shall be deemed amended on the day following the last day of the Moratorium Period of the Salary Cap Year covering the first Season of the extended term to provide for specific Salaries for each Season of the extended term, based on the Maximum Annual Salary applicable to such player on the day following the last day of the Moratorium Period.