Weekly Base Compensation definition

Weekly Base Compensation means an Employee’s gross weekly base wages, before any withholding or deductions, at the time of termination. If the Employee normally works less than his or her Employer’s standard full-time workweek, then Weekly Base Compensation means the Employee’s gross base wages, before any withholding or deductions, for his or her normally scheduled weekly number of hours, as determined by the Employer. Weekly Base Compensation does not include bonuses, overtime pay, incentives, allowances, commissions, equity compensation, and any other extraordinary remuneration.
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Weekly Base Compensation means the Eligible Employee’s hourly base rate of compensation (including shift premium and shift differential, if any) in effect as of his or her Severance Date times the lesser of (i) forty (40) or (ii) the number of hours the Eligible Employee was regularly scheduled to work immediately prior to his or her Severance Date. For Employees with a monthly base rate, the hourly base rate is determined by dividing the monthly base rate by 173.33. By way of illustration and not limitation, Weekly Base Compensation shall not include overtime earnings, bonuses or other supplemental compensation.
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Weekly Base Compensation means the Eligible Employee’s Base Compensation divided by 52.
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Examples of Weekly Base Compensation in a sentence

  • In order to enable the Administrator to perform his or her functions under the Plan, the Company shall supply full and timely information to the Administrator on all matters relating to the Weekly Base Compensation of Eligible Employees, their employment, retirement, death, or the cause for termination of employment and such other pertinent facts as may be required.

  • Except as set forth below, the Additional Benefit shall be an amount equal to the number of weeks of the Eligible Employee’s Weekly Base Compensation determined according to the following schedule: Notwithstanding the foregoing, an Eligible Executive Employee (as defined in Appendix C) shall not receive an Additional Benefit.

  • Except as otherwise provided, the Basic Benefit shall be an amount equal to the number of weeks of the Eligible Employee’s Weekly Base Compensation determined according to the following schedule: Effective for layoffs announced after March 1, 1998, if after calculating an Eligible Employee’s Basic Benefit, the above schedule results in a Basic Benefit that includes a unit of 1/2 Weekly Base Compensation, such unit shall be rounded up to 3/5 of Weekly Base Compensation.

  • Except as set forth below, the Separation Benefit shall be an amount equal to the number of weeks of the Eligible Employee’s Weekly Base Compensation determined according to the following schedule: If after calculating an Eligible Employee’s Separation Benefit the above schedule results in a partial week of a Separation Benefit, such partial week shall be rounded up to a whole week.

  • Notwithstanding the foregoing, the minimum Separation Benefit to be provided pursuant to this subsection (a) to an Eligible Employee who is employed at the Expert/Strategic career band classification level and above shall in no event be less than an amount equal to 18 weeks of the Eligible Employee’s Weekly Base Compensation.

  • In order to enable the Administrator to perform its functions under the Plan, each Employer shall supply full and timely information to the Administrator on all matters relating to the Weekly Base Compensation of Eligible Employees, their employment, retirement, death, or the cause for termination of employment and such other pertinent facts as may be required.

  • In the event a Participant who has received benefits under this Plan is rehired by the Company or any Affiliate within six (6) months after his or her Termination Date, such individual must repay the amount received under Section 5 of this Plan less an amount equal to the individual’s Weekly Base Compensation on his or her Termination Date for the number of weeks (or portion thereof) between his or her Termination Date and re-hire date.

  • In order to enable the Administrator to perform its functions under the Plan, each Employer shall supply full and timely information to the Administrator on all matters relating to the Weekly Base Compensation of Eligible Employees, their employment, retirement, death, or the cause for termination of employment, or the occurrence of a Change in Control and such other pertinent facts as may be required.

  • Assume further he/she worked another two years and was then terminated when his/her Weekly Base Compensation was $1,400/week (and at termination was eligible for Severance Benefits).

  • In the event of an Anticipatory Termination, such Eligible Employee shall also be entitled to receive an amount equal to Employee’s Weekly Base Compensation from the date of Employee’s termination through the date immediately following the Change of Control and any Bonus for the previously completed fiscal year, if not previously paid due to Employee’s earlier termination of employment.


More Definitions of Weekly Base Compensation

Weekly Base Compensation means the greater of (A) the annual base compensation or salary being paid by an Employer to the Employee in effect immediately prior to the date of the Change of Control and (B) the annual base compensation or salary being paid by an Employer to the Employee in effect immediately prior to the effective date of the Employee’s termination, in each case, determined prior to reduction for any employee-elected salary reduction contributions made to an Employer-sponsored non-qualified deferred compensation plan or an Employer-sponsored plan pursuant to Section 401(k) or 125 of the Internal Revenue Code, and excluding bonuses, overtime, allowances, commissions, deferred compensation payments and any other extraordinary remuneration, multiplied by a fraction, the numerator of which shall equal 1 and the denominator of which shall equal 52.
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Weekly Base Compensation means the Eligible Employee’s Base Compensation
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Weekly Base Compensation means an Employee’s Annual Base Compensation divided by 52.
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Weekly Base Compensation means the Eligible Employee’s hourly base rate of compensation (including shift premium and shift differential, if any) in effect as of his or her Severance Date times the lesser of (i) forty (40) or (ii) the number of hours the
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Related to Weekly Base Compensation

  • 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 (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • 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 Salary means the salary given under this Part.

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

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • 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.

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

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.

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

  • 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.

  • Earnable compensation means the full rate of the

  • Salary as defined in Section 3.1(a).

  • 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.

  • Final compensation of a member means:

  • 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)):

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

  • Basic Compensation means Salary and Benefits.

  • 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.

  • 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.

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • 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).

  • 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.

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

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

  • Creditable compensation means the full compensation payable annually to an employee working

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