Salary Payment definition

Salary Payment means in relation to an Eligible Employee, such of the emoluments of the employment by reference to which he is eligible to participate in the Plan as are liable to be paid under deduction of tax pursuant to section 684 of the Act or which would be if that individual were in receipt of Taxable Earnings, or would be so liable apart from Schedule 2 of the Act;
View Source

Examples of Salary Payment in a sentence

  • Accrued Obligations, the Pro-rata Bonus and the Supplemental Salary Payment shall be paid to the Employee’s estate or beneficiary, as applicable, in a lump sum in cash within thirty (30) days of the Date of Termination.

  • The Accrued Obligations, the Pro Rata Bonus and the Supplemental Salary Payment shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within thirty (30) days of the Date of Termination.

  • Manager hereby acknowledges receipt of a check or checks for all compensation owing to him, including salary, and reimbursed expenses ("Salary Payment") from District.

  • After the initial election, any future changes must be made in writing (via the Salary Payment Option Form) no later than 10 calendar days prior to the first duty day of the new school year.

  • The Termination Salary Payment and Termination Bonus Payment shall be paid in one lump sum within 45 days following the date of the Executive’s Separation From Service, provided that the Executive executes and does not revoke within any applicable revocation period the release described in Section 4(j)(ii)(B) below.

  • The Change In Control Termination Salary Payment and the Change In Control Termination Bonus Payment shall be paid in lump sum payments within 45 days following the date of the Executive’s Separation From Service, provided that the Executive executes and does not revoke within any applicable revocation period the release described in Section 4(j)(ii) below.

  • The Total Payments which constitute “parachute payments” within the meaning of Code Section 280G and its regulations shall be reduced in the following order: (A) reduction of any cash severance payments otherwise payable to the Executive, including without limitation, the Severance Salary Payment and the Severance Bonus (but with respect to the Severance Bonus only that portion of the full amount which is treated as contingent on the Code Section 280G change in control pursuant to paragraph (a) of Treas.

  • Thereafter, the Employer shall not be responsible to the Executive for any additional Base Salary Payment.

  • You shall receive payment of your Base Salary for nine months (the “Base Salary Payment Period”).

  • You shall receive each of the benefits described in Section 2(a)(b) and (c) above, except that the Base Salary Payment Period and the COBRA Payment Period shall be twelve, rather than nine, months.

Related to Salary Payment

  • 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)

  • Monthly salary means the W-2 reportable compensation received by a member during the month.

  • Lump Sum Payment means a single payment that is not anticipated to continue.

  • 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.

  • Incentive Payment means the payments made pursuant to Section VII.E.