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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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” 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.
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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.
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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.
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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 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 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, 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 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 Executive is not subject to state income taxes. Further assume that Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 in Excise Taxes are payable. The amount of the required Bonus Payment is thus $100,000. 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 payments made pursuant to Section VII.E.

  • 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.