Reference Compensation definition

Reference Compensation means the sum of the Executive’s annual salary and annual bonus divided by twelve. For purposes of this definition, the Executive’s annual salary is the greater of the annual rate of his or her base salary from the Company and its subsidiaries in effect immediately prior to the Date of Employment Termination, or the annual rate of the Executive’s base salary from the Company and its subsidiaries in effect immediately prior to the date of consummation of the Change of Control. For purposes of this definition, annual bonus shall mean the greatest of (i) the average of the three annual bonuses paid to the Executive prior to his or her Date of Employment Termination, (ii) the average of the three annual bonuses paid to the Executive prior to the date of consummation of the Change of Control (if applicable, because termination occurs during a Window Period), or the Executive’s target annual bonus under the Company’s annual incentive compensation plan for the year that include his or her Date of Employment Termination. If the Executive received fewer than three bonuses prior to his or her Date of Employment Termination or the date of consummation of the Change of Control, as applicable, the amounts described in Clauses (i) and (ii) shall be calculated using the average of such lesser number of annual bonuses. The term annual bonus does not include any special or sign-on bonus that is not part of the Company’s regular and recurring program of annual incentive compensation.

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Reference Compensation means your monthly base salary multiplied by [1.50] [1.55]

Reference Compensation means [1.40][1.45][1.50][1.55] times the Executive’s Annual Salary divided by twelve.

Examples of Reference Compensation in a sentence

If the Executive has to his or her credit fewer than 15 Years of Service, the Executive shall receive a severance payment equal to 18 months of the Executive’s Reference Compensation.
If the Executive has to his or her credit 15 or more Years of Service, the Executive shall receive a severance payment equal to 21 months of the Executive’s Reference Compensation.
If the Executive has to his or her credit 15 or more Years of Service, the Executive shall receive a severance payment equal to 15 months of the Executive’s Reference Compensation.
If the Executive has to his or her credit fewer than 15 Years of Service, the Executive shall receive a severance payment equal to 12 months of the Executive’s Reference Compensation.
The Executive shall receive a severance payment equal to the sum of (i) 18 times the Executive’s Reference Compensation and (ii) the product of (x) [0.40][0.45] [0.50][0.55] times the Executive’s Annual Salary divided by twelve and (y) the number of full months elapsed in the calendar year before the Executive’s Date of Employment Termination.
IMPLEMENTATION OF BILLING SERVICES Process Milestones Exhibit 16A Reference Compensation Subtotal of Implementation Tasks $290,000 Total Payment $406,376 II.
The Executive shall receive a severance payment equal to 18 months of the Executive’s Reference Compensation.
The Executive shall receive a severance payment equal to the sum of (i) 24 times the Executive’s Reference Compensation and (ii) the product of (x) [0.40][0.45] [0.50][0.55] times the Executive’s Annual Salary divided by twelve and (y) the number of full months elapsed in the calendar year before the Executive’s Date of Employment Termination.
The Executive shall receive a severance payment equal to eighteen months of the Executive's Reference Compensation.
The Parties agree that the amount due under Section 2(b)(i) (twelve (12) times Individual’s Reference Compensation) is equal to $620,000 and that the Bonus Component is intended to be an Exempt Bonus with payment made as though Individual had remained employed by the Company.

More Definitions of Reference Compensation

Reference Compensation means the sum of the Executive's annual base salary divided by twelve.