Regular Monthly Compensation definition

Regular Monthly Compensation means one-twelfth (1/12) of the sum of: annual salary as at Termination Date, plus either (i) the average of the awards of cash compensation (or if such awards were not made in cash, the cash equivalent thereof) paid or payable to the executive under any Incentive Plan(s) in respect of the three calendar years completed immediately prior to his termination from employment, or (ii) if the Executive has not been employed for at least three calendar years before the Termination Date, the Current Year's Incentive Plan(s) Amount.
Sample 1Sample 2Sample 3
Regular Monthly Compensation means one-twelfth (1/12) of the sum of; (a) annual salary as at Termination Date, plus (b) the average of the awards of cash compensation (or if such awards were not made in cash, the cash equivalent thereof) paid or payable to the Executive under any Bonus Plan(s) in respect of the two calendar years completed immediately prior to his termination from employment, provided that if during one (1) of the two (2) calendar years the Executive was employed for less than the entire year, the award for that year shall be annualized for the purposes of calculating such average, plus 1 January 2007 24 of 27 (c) the monthly total amount of the Executive Benefit Payment received by the Executive multiplied by twelve (12).
Sample 1
Regular Monthly Compensation means the sum of (i) the highest one-twelfth of the Executive’s annual base salary during the twelve month period immediately preceding the Executive’s Termination Date; and (ii) one-twenty-fourth of the greater of: (A) the amounts awarded to the Executive under the Management Incentive Plan (or under any successor plan or plans) in respect of the two calendar years immediately preceding the year in which the Executive’s Termination Date occurs or (B) the Executive’s target award under such plan for the same period. If the Executive has not completed two calendar years of employment then the calculation under (ii) above should be based upon one twelfth of the Executive’s target award under the Management Incentive Plan (or under any successor plan or plans) for the year in which the Termination Date occurs.
Sample 1Sample 2

Examples of Regular Monthly Compensation in a sentence

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay to the Executive an amount equal to the Executive’s Regular Monthly Compensation multiplied by twenty-four (24) and any other amounts which have been earned but are unpaid at the Termination Date.

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay to the Executive a lump sum amount equal to the Executive’s Regular Monthly Compensation multiplied by eighteen (18).

  • The Company shall, not later than 14 days after ------------- the Termination Date, pay to the Executive a lump sum amount equal to the Executive's Regular Monthly Compensation multiplied by 18.

  • The Company shall, not later than 14 days after the ------------- Termination Date, pay to the Executive a lump sum amount equal to the Executive's Regular Monthly Compensation multiplied by 18.

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay to the Executive a lump sum 1 March 2006 7 of 26 amount equal to the Executive’s Regular Monthly Compensation multiplied by eighteen (18).

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay to the Executive a lump sum amount equal to the Executive’s Regular Monthly Compensation multiplied by 1 March 2006 7 of 26 eighteen (18).

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay over the course of sixty (60) months to the Executive’s designated beneficiary, or if none, to his then living spouse, or if none, to the duly appointed personal representative of his estate, an amount totaling to the Executive’s Regular Monthly Compensation multiplied by eighteen (18).

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay to the Executive a lump sum amount equal to the Executive’s Regular Monthly Compensation multiplied by twenty-four (24).

  • Which selected actions and/or cross-cutting themes and corresponding activities should be further emphasized, modified or eliminated and why?5.

  • The Company shall, not later than fourteen (14) days after the Termination Date, pay to the Executive an amount equal to the Executive’s Regular Monthly Compensation multiplied by thirty-six (36) and any other amounts which have been earned but are unpaid at the Termination Date.


More Definitions of Regular Monthly Compensation

Regular Monthly Compensation means one-twelfth (1/12) of the sum of: (a) annual salary as at Termination Date, plus (b) the average of the awards of cash compensation (or if such awards were not made in cash, the cash equivalent thereof) paid or payable to the Executive under any Bonus Plan(s) in respect of the two calendar years completed immediately prior to his termination from employment, provided that if during one (1) of the two (2) calendar years the Executive was employed for less than the entire year, the award for that year shall be annualized for the purposes of calculating such average, plus
Sample 1

Related to Regular Monthly Compensation

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Average Annual Compensation shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. 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.

  • 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.

  • Monthly Salary Rate means the amount agreed to by Owner that can be used on Applications for Payment throughout the Construction Phase to account for the monthly salary costs of Contractor’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Contractor’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by Contractor for services performed. The initial Monthly Salary Rate is included in Exhibit “G” attached to this Agreement.

  • Average final compensation means the average annual creditable compensation of a member during

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • 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.

  • 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.

  • 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.

  • Final compensation of a member means:

  • Plan Year means the calendar year.

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Basic Compensation means Salary and Benefits.

  • Base Pay means Executive’s annual base salary rate as in effect from time to time.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • 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)):

  • 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);

  • 415 Compensation means: