Overaward payment definition

Overaward payment means the amount (whether it be termed "overaward payment", "attendance bonus", "service increment", or any term whatsoever) which an employee would receive in excess of the award rate of pay for the classification in which such an employee is engaged. Provided that such payment shall exclude payments related to overtime, shift premiums, penalty rates and meal money allowance and any other ancillary payment of a like nature prescribed by this award.
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Overaward payment means the amount (whether it be termed "overaward payment", "attendance bonus", "service increment", or any term whatsoever) which an employee would receive in excess of an award and/or industrial agreement rate of pay for the classification in which such an employee is engaged. Provided that such payment shall exclude payments related to overtime, meal money allowance and any other ancillary payment of a like nature prescribed by an award and/or industrial agreement.
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Overaward payment means the amount (whether it be termed "overaward payment", "attendance bonus", "service increment", or any term whatsoever) which an employee would receive in excess of the award rate of pay for the classification in which such employee is engaged. Provided that such payment shall exclude overtime, meal allowances and any other ancillary payments of a like nature.
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Examples of Overaward payment in a sentence

  • These quantitative disclosures do not represent the maximum possible loss or any expected loss that may occur, since actual results may differ from those estimates.

  • Over-award payment based on achieved increases in productivity and profitability were to be negotiable at enterprise or industry level.

  • The rate of Pay you are currently receiving as an existing employee with the Company will not be altered.The difference between the actual rate you receive and the Award Classification rate amount will be recognised as your Overaward payment component.

  • Overaward payment is defined as the amount in rates of pay which an employee would receive in excess of the minimum award wage (ie.


More Definitions of Overaward payment

Overaward payment means the amount which an Employee would receive in excess of an agreement rate of pay for the classification in which such an Employee is engaged. Provided that such payment shall exclude payments related to overtime, meal money allowance and any other ancillary payment of a like nature prescribed by an award and/or industrial agreement. Drivers get overtime allowances included in their superannuation
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Overaward payment means the amount (whether it be termed “overaward payment”, “attendance bonus”, “service increment’, or any term whatsover), which an employee would receive for working ordinary hours, for the classification in which such an employee is engaged.5.9.2 Superannuation legislationThe subject of superannuation contributions is dealt with extensively by legislations including the Superannuation Guarantee (Administration) Act 1992, the Superannuation Guarantee charge Act 1992, the Superannuation Industry (Supervision) Act 1993. The legislation, as varied from time to time, governs the superannuation rights and obligation of the parties5.9.3 Employer contributionsAn employer will make contributions for an employee in accordance with the employee’s freedom of choice and in accordance with the legislative requirements in clause 5.9.2. These contributions will be based on the employee’s ordinary time earnings.5.9.4 Voluntary employee contributions5.9.4.1 Employees who may wish to make contributions to the fund additional to those being paid by the employer pursuant to clause 5.6.3 shall be entitled to authorise the employer to pay into the fund from the employee’s wages amounts specified by the employee.5.9.4.2 Upon such authorisation in writing by the employee, the employer shall be required to make the deduction and forward it to the fund.5.9.4.3 Employee contributions to the fund requested under this clause 5.9.4 shall be subject to the following conditions:(a) The amount of the contributions shall be expressed in whole dollars.(b) After the first contribution, the amount of contribution shall only be adjusted from the first full pay period in July each year.5.9.5 Exemptions5.9.5.1 In relation to the following companies the fund means:
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Overaward payment means the amount (whether it be termed “overaward payment”, “attendance bonus” or any term whatsoever) which an employee would receive in excess of the “award wage”. Provided that such payment shall exclude overtime, shift allowance, penalty rates, disability allowances, fares and travelling time and any other ancillary payments of a like nature prescribed by the award.
Sample 1
Overaward payment means the amount which an employee would receive in excess of the award rate of pay for the classification in which such an employee is engaged. Provided that such payment excludes payments related to overtime, meal money allowance and any other ancillary payment of a like nature prescribed by the award.
Sample 1
Overaward payment means the amount which an Employee would receive in excess of an agreement rate of pay for the classification in which such an Employee is engaged.Provided that such payment shall exclude payments related to overtime, meal money allowance and any other ancillary payment of a like nature prescribed by an award and/or industrial agreement.Drivers get overtime allowances included in their superannuation.
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Related to Overaward payment

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • 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.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • 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);

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Bonus Payments means that portion of the bonus payments received by the

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Delta Payment means as it is described in this Agreement.

  • Deferred Sales Charge means the "deferred sales fee" as described in the Prospectus.

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

  • Earn-Out Payment has the meaning set forth in Section 2.07(a)(i).

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Debit Payment means a particular transaction where a debit is made.

  • Recoverable Incentive Compensation means Incentive Compensation received by a Covered Officer during the Lookback Period that exceeds the amount of Incentive Compensation that would have been received had such amount been determined based on the Accounting Restatement, computed without regard to any taxes paid (i.e., on a gross basis without regard to tax withholdings and other deductions). For any compensation plans or programs that take into account Incentive Compensation, the amount of Recoverable Incentive Compensation for purposes of this Policy shall include, without limitation, the amount contributed to any notional account based on Recoverable Incentive Compensation and any earnings to date on that notional amount. For any Incentive Compensation that is based on stock price or TSR, where the Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Administrator will determine the amount of Recoverable Incentive Compensation based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or TSR upon which the Incentive Compensation was received. The Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to the Exchange in accordance with the Listing Standards.

  • AHYDO Catch-Up Payment means any payment with respect to any obligations of the Borrower or any Restricted Subsidiary, in each case to avoid the application of Section 163(e)(5) of the Code thereto.

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Deferred Payments means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.