Two Times Base Annual Salary definition

Two Times Base Annual Salary means the annual base salary of the Participant at the earliest of: (1) the date of the Participant’s death, (2) the date of the Participant’s Disability, or (3) the Participant’s Normal Retirement Date, multiplied by a factor of two.
Sample 1
Two Times Base Annual Salary means the current base annual salary of the Executive at the earliest of: (1) the date of the Executive's death; (2) the date of the Executive's Disability; or (3) the Executive's Normal Retirement Date multiplied by a factor of two (2).
Sample 1Sample 2Sample 3
Two Times Base Annual Salary means the current base annual salary of the Participant at the earliest of: (1) the date of the Participant's death; (2) the date of the Participant's Disability; or (3) the Participant's date of termination of employment multiplied by a factor of Two (2).
Sample 1

Examples of Two Times Base Annual Salary in a sentence

  • The Executive shall have the right to designate the beneficiary of Two Times Base Annual Salary.

  • With respect to the Policy(ies), the Participant shall have the right to designate the beneficiary of an amount of death proceeds equal to the lesser of: (i) Two Times Base Annual Salary of the Participant or (ii) the maximum dollar amount of the Participant’s Interest set forth in the Participant’s individual Split Dollar Policy Endorsement and based upon the vesting schedule attached to his or her individual Split Dollar Policy Endorsement.

  • Such requests can be forwarded to the responsible relationship manager within the group.

  • If the Participant was employed by the Company at the time of death, the death benefit shall be Two Times Base Annual Salary in effect at the his or her date of death, less $50,000 (from the Company’s existing group term plan), capped at a maximum of $470,000 (Four Hundred Seventy Thousand Dollars).

  • Subject first to the Company's interest in the death proceeds under a Policy the death benefit to be provided by the Plan shall be up to Two Times Base Annual Salary of a Participant but not in excess of the amount set forth in Exhibit C.

  • The beneficiary designated by the Insured, or his/her transferee shall be the beneficiary (based on the attached vesting schedule) of the lesser of: (i) Two Times Base Annual Salary of the Insured/Participant or (ii) $ .

  • Two Times Base Annual Salary in effect at the effective date of his or her termination of employment with the Company, less $50,000 (from the Company’s existing group term plan), capped at a maximum of $470,000 (Four Hundred Seventy Thousand Dollars).

  • If the Executive was employed by the Bank on the date of death, the death benefit shall be Two Times Base Annual Salary in effect at his date of death.

  • With respect to each Policy, the Participant, or the Participant’s assignee, shall have the right to designate the beneficiary of an amount of death proceeds equal to the lesser of (i) Two Times Base Annual Salary of the Participant, or (ii) the dollar amount of the Participant’s Interest set forth in the Participant’s individual Split Dollar Endorsement.


More Definitions of Two Times Base Annual Salary

Two Times Base Annual Salary means the annual base salary of the Participant in effect at date of death multiplied by a factor of two (2), but not in excess of the amount stated in Exhibit C. The Split Dollar Policy Endorsement signed by the Participant and the Company shall state this amount in U.S. currency.
Sample 1

Related to Two Times Base Annual Salary

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Average Annual Compensation For the purposes of this Agreement, “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;

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Average annual payroll means the average of the annual

  • Annual Salary means the salary given under this Part.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Semi-Annual Period means each of: the period beginning on and including January 1 and ending on and including June 30; and the period beginning on and including July 1 and ending on and including December 31.

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Projected Annual Benefit means the Annual Benefit as defined in subsection (2) above, to which the Participant would be entitled under the terms of the Plan assuming: (A) the Participant will continue employment until the Normal Retirement Date under the Plan (or current date,if later) and (B) the Participant's Compensation for the current Limitation Year and all other relevant factors used to determine benefits under the Plan will remain constant for all future Limitation Years.

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • 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.

  • Effective date of enrollment means the first date when an en- rollee is entitled to receive covered benefits.

  • Semi-Annual Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions--Semi-Annual Distributions" in the Prospectus Part I for a Trust.

  • Annualized as used herein shall mean the multiplication of the applicable amount for any given period by a fraction, the numerator of which is 365 and the denominator of which is the number of days elapsed in such period.

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

  • Final Salary means the average annual salary for service for which

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Final average salary means whichever of the following is greater: