Total Employment Cost definition

Total Employment Cost or “TEC” means the amount described in Clause 61 as it may be varied from time to time.
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Total Employment Cost means the total gross annual remuneration of the Employee (inclusive of superannuation) described in clause 5 and item 4 of Schedule 1, including, but not limited to, the provision of a fully maintained motor vehicle to the Employee, with registration, insurance and ongoing running costs to be borne by the Employer.
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Total Employment Cost means the total remuneration specified in clause 3 of a Contract to which an Executive Contract Officer is entitled in accordance with paragraph 5, as adjusted from time to time in accordance with paragraph 6; and
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Examples of Total Employment Cost in a sentence

  • Further information on the Total Employment Cost for this position will be discussed with the successful applicant.

  • The Short Term Incentive (STI) component will be between 0 - 50% of Total Employment Cost, with an award equivalent of 25% “at target” performance.

  • The remaining balance of Total Employment Cost (TEC) of INR550,000/- per annum will form the Basket Allowance, which may include allowances related to housing rent, car running and maintenance, driver’s wages, and/or leave travel allowance, in accordance with applicable laws.

  • For an employee who is in receipt of a remuneration package, salary shall mean Total Employment Cost package value.

  • ANZ may elect to pay you in lieu of giving you all or part of the notice period based on your Total Employment Cost package (“TEC”) (refer Schedule below).

  • DepreciationThe depreciable amount of all fixed assets including capitalised lease assets is depreciated on a straight-line basis over their useful lives to the Economic Entity commencing from the time the asset is held ready for use.

  • That Council authorises the Mayor to sign any correspondence related to the changes to the CEO employment contract and Total Employment Cost remuneration package as resolved above.” 2.

  • Remuneration packaging is an arrangement whereby the entitlements under this Agreement, contributing toward the Total Employment Cost (as defined) of an Employee, can be reduced by and substituted with another, or other benefits.

  • For the purposes of this clause, Total Employment Cost (TEC) is defined as the cost of salary and other benefits aggregated to a total figure or TEC, less the cost of Compulsory Employer Superannuation Guarantee Contributions.

  • Thereafter we will review your Total Employment Cost at least once in each 12 months of your employment on such a basis as we, in our absolute discretion, may determine.


More Definitions of Total Employment Cost

Total Employment Cost means in relation to a relevant Employee (and including for purposes of any relevant policy of insurance effected by the Trustee), and having regard to the nature of the relationship and arrangement between the Company and Employee, the Employee’s remuneration package (excluding bonuses, commissions, profit share, short or long term incentive payments and other variable remuneration) as determined by the Company and “TEC” has the corresponding meaning. In the case of doubt or difference, the amount shall be as declared by the Principal Company.
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Total Employment Cost means the Department’s annual budgeted cost as determined from time to time by the Department, of providing the employee’s to- tal Package as Salary. In the event there is a cost reduction as a result of the employee receiving Ben- efits rather than Salary, the saving is treated as additional salary but is not taken into account for superannuation purposes other than for fulfilling any legal employer superannuation obligations.
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Total Employment Cost is the employer’s annual budgeted cost for the position. If there is a cost reduction as a result of the employee receiving Benefits rather than Salary, the saving is returned to the employee, but is not taken into account for superannuation purposes other than for fulfilling the employer’s obligations under the Staff Superannuation Fund.
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Total Employment Cost means salary plus oncosts.
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Related to Total Employment Cost

  • Seasonal employment means the employment of 1 or more individuals primarily hired to perform services during regularly recurring periods of 26 weeks or less in any 52-week period other than services in the construction industry.

  • 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.

  • Part-time employment means any employment or combination of one or more employments in a civil division in which an individual works fifty percent or less of the time prescribed as the standard work week by the governing body or other appropriate authority of the civil division or where the employee earns not more than one-half (1/2) of the rate assigned to the position if the position has been allocated to a graded salary schedule.

  • Casual Employee means an employee who has no set hours or days of work and who is normally asked to work as and when required.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Covered employment means employment in a covered position.

  • 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.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • 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).

  • 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 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.

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Casual Employees are employed on an "on call" basis to cover absences due to sick leave, vacation, or other approved leaves, or to augment staff during peak periods or periods of staff shortage.

  • Supported employment means the ongoing supports to participants who, because of their disabilities, need intensive ongoing support to obtain and maintain an individual job in competitive or customized employment, or self-employment, in an integrated work setting in the general workforce at or above the state’s minimum wage or at or above the customary wage and level of benefits paid by the employer for the same or similar work performed by individuals without disabilities. The outcome of this service is sustained paid employment at or above the minimum wage in an integrated setting in the general workforce in a job that meets personal and career goals. Supported employment services can be provided through many different service models.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Core Earnings means, with respect to any Person for any period, net income determined in accordance with GAAP of such Person and its consolidated subsidiaries and excluding (but only to the extent included in determining net income for such period) (i) non-cash equity compensation expense, (ii) the expenses incurred in connection with the formation of the Sponsor and the offering in connection therewith, including the initial underwriting discounts and commissions, (iii) acquisition costs from successful acquisitions (other than acquisitions made in the ordinary course of business), (iv) real property depreciation and amortization, (v) any unrealized gains or losses or other similar non-cash items that are included in net income for the current quarter, regardless of whether such items are included in other comprehensive income or loss, (vi) extraordinary or non-recurring gains or losses and (vii) one-time expenses, charges or gains relating to changes in GAAP; provided that Core Earnings shall, solely with respect to the Core Earnings attributable to any Non Wholly-Owned Consolidated Affiliate, only include the Consolidated Group Pro Rata Share of such attributable amount.

  • 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.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • 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.

  • Post-Employment Period means the eighteen month period beginning on the date of termination of the Executive's employment with the Employer. If any covenant in this Section 8.2 is held to be unreasonable, arbitrary or against public policy, such covenant shall be considered to be divisible with respect to scope, time, and geographic area, and such lesser scope, time, or geographic area, or all of them as a court of competent jurisdiction may determine to be reasonable, not arbitrary, and not against public policy, shall be effective, binding, and enforceable against the Executive. The period of time applicable to any covenant in this Section 8.2 will be extended by the duration of any violation by the Executive of such covenant. The Executive shall, while the covenant under this Section 8.2 is in effect, give notice to the Employer, within ten days after accepting any other employment, of the identify of the Executive's employer. The Employer may notify such employer that the Executive is bound by this Agreement and, at the Employer's election, furnish such employer with a copy of this Agreement or relevant portions thereof.

  • Gainful employment means paid employment for not less than 30 hours in each week for a period of not less than 12 months;

  • Confidential employee means one who assists and acts in a confidential capacity to a per-

  • Leave Year means the year ending with the anniversary date of the employee’s appointment.

  • Final compensation of a member means:

  • Year of Employment means a period of service of 12 months.

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of: