Retention Pay definition

Retention Pay means the payments made to Executive as provided in Section 3 of this Agreement.
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Retention Pay means the payment you are eligible to receive under Section B of this Retention Agreement.
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Retention Pay means minimum payments to an employee in each consecutive
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Examples of Retention Pay in a sentence

  • The obligation for other long term employee benefits such as long term compensated absences, liability on account of Retention Pay Scheme are recognised in the same manner as in the case of defined benefit plans as mentioned in (ii)(b) above.

  • Retention Pay shall be considered as part of an employee's regular rate of pay for the purpose of computing overtime pay due under this Agreement.

  • Retention Pay that was being paid to a member at the time the member became disabled shall be included in the member’s disability benefits.

  • Effective June 30, 2008, employees who have completed twenty-six (26) years or more of service as a uniformed member of the Department shall receive an additional two percent (2%) Retention Pay, for a total of four percent (4%).

  • Members who are permanently assigned by the Chief of Department to a Hazardous Material Specialist assignment may stack this premium with Retention Pay and Training and Education Achievement Pay.

  • Retention Pay may be stacked with Training and Education Achievement Pay.

  • Retention Pay shall be considered as part of an employee's salary for purposes of computing retirement benefits and retirement contributions.

  • As a condition to Payment of the Retention Pay and Benefits, Executive agrees not to disclose to any person, agency or court the terms and provisions of this Agreement, or any of the discussions between Executive and the Company's representatives relating to this Agreement, unless Executive is expressly compelled to do so pursuant to legal process (e.g., a court summons or subpoena), or as otherwise required by law.

  • The present value of the obligation under long term employee benefit plans such as compensated absences and liability under Retention Pay Scheme is determined based on actuarial valuation using the Projected Unit Credit Method.The obligation is measured at the present value of the estimated future cash flows.

  • Employees who have completed twenty-three (23) years or more of service as a uniformed member of the Department shall receive 2% Retention Pay.


More Definitions of Retention Pay

Retention Pay means the sums (if any) payable as set forth in Section 4.2 herein. Notwithstanding any other provision of this Plan or an Award Letter to the contrary, an Eligible Employee shall not receive Retention Pay unless the Eligible Employee executes a release in accordance with Section 4.4.
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Retention Pay means pay that is provided to a
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Related to Retention Pay

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Retention Bonus means an incentive bonus provided under

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Severance means the complete separation and dismemberment of the part from the body.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • 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 –

  • Change in Control Benefits means the following benefits:

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

  • Termination Benefits means the benefits described in Section 4.1(b).

  • CIC Severance Plan means the Company’s Change in Control Severance Plan, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • 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).

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

  • Final compensation of a member means:

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • 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.

  • 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.

  • Share Compensation Arrangement means any stock option, stock option plan, employee stock purchase plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Shares, including a share purchase from treasury which is financially assisted by the Corporation by way of a loan, guarantee or otherwise;

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • 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.

  • 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).