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 receive 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.
Sample 1
Reference Compensation means your monthly base salary multiplied by [1.50] [1.55]
Sample 1
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 Executive’s target annual bonus under the Company’s annual incentive compensation plan for the year that includes his or her Date of Employment Termination. 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 and does not include awards under the Company’s Long Term Incentive Plan.
Sample 1

Examples of Reference Compensation in a sentence

  • 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.

  • To encourage and reward exceptional financial results in excess of 100% achievement of objectives, the variable compensation related to financial objectives can be increased so that the total variable compensation can reach up to 180% of the Total Reference Compensation.

  • Reference Compensation Rate for Additional Time (see page 28 for rates).

  • 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 health plan has an annual limitation (a “cap”) on the dollar amount of the employer’s share of the cost of covered benefits incurred by a plan participant.

  • 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.

  • The Executive shall receive a severance payment equal to eighteen months of the Executive's Reference Compensation.

  • As a result, total variable remuneration can be up to 112.5% of the Total Reference Compensation.

  • This includes allowing customers to bring their own reusable cups or containers (Bring- Your-Own or BYO) or offering reusable takeout services with cups and containers that customers can borrow and return.

  • Su, “IEEE Standard 1459-based Reference Compensation Current Strategy for Three-phase Three-wire Shunt Active Power Filter Control,” Proceedings of the 15th IEEE International Conference on Harmonics and Quality of Power, Bucharest, May 2014.


More Definitions of Reference Compensation

Reference Compensation means [1.40][1.45][1.50][1.55] times the Executive’s Annual Salary divided by twelve.
Sample 1
Reference Compensation means the sum of the Executive's annual base salary divided by twelve.
Sample 1

Related to Reference Compensation

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.

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

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • 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 –

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

  • Creditable compensation means the full compensation payable annually to an employee working

  • 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.

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Basic Compensation means Salary and Benefits.

  • Annual Cash Compensation means the sum of (I) the Employee's highest Base Salary (i.e., one year's salary at its highest rate), plus (II) the "Applicable Average Bonus" as defined in subparagraph 5(a)(i)(B) above.

  • 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.

  • Final compensation of a member means:

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

  • Additional Compensation has the meaning set out in Section 13.3(1).

  • 415 Compensation means:

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • 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);

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Earnable compensation means the full rate of the

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

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

  • 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.