Weekly Pay definition

Weekly Pay means the Executive’s Compensation divided by fifty-two (52). FOR VALUABLE CONSIDERATION, including the payment to the Executive of certain severance benefits, the Executive hereby makes this Release of All Claims (“Release”) in favor of Old National Bancorp (including all subsidiaries and affiliates) (“Company”) and its agents as set forth herein.

Weekly Pay means the Executive’s Compensation divided by fifty-two (52).

Weekly Pay means the ordinary time gross all purpose rate of pay for the employee concerned.

Examples of Weekly Pay in a sentence

• If an employer uses a value other than the Average Revenue Net Weekly Pay to determine the employee’s subsidy payment, then the employer may find it difficult to reconcile the payments made to employees with the subsidy amount refunded as determined by Revenue and the employer will only be refunded the subsidy value, based on the ARNWP, calculated by Revenue.

• If an Eligible Employee does not authorize an additional Tax-Deferred Contribution equal to the full amount of the CPS award, both the percentage of Basic Weekly Pay and the type of contribution (pre-tax or after-tax) which the Eligible Employee has authorized and are in effect (if any) at the time the CPS award is paid shall be applied to the CPS award in determining the amount and type of the contribution.

• If the Director of Labor determines that a prevailing wage is defined by a collective bargaining agreement, the overtime compensation shall be at the rates set by the applicable collective bargaining agreement [§§104-1, 104-2(c), HRS; §12-22-4.1, HAR] Weekly Pay • Laborers and mechanics employed on the job site shall be paid their full wages at least once a week, without deduction or rebate, except for legal deductions, within five working days after the cutoff date.

• If an employer uses a value other than the Average Revenue Net Weekly Pay to determine the employee’s subsidy payment, then the employer may find it difficult to reconcile the payments made to employees with the subsidy amount refunded as determined by Revenue.

• Your holiday pay will be calculated by taking the greater of your Ordinary Weekly Pay or your Average Weekly Earnings (52 week average) and paying you for the proportion of a week’s leave you are taking, as per the Holiday’s Act.

More Definitions of Weekly Pay

Weekly Pay means the ordinary time gross all-purpose rate of pay for the employee concerned.

Weekly Pay means the Employee’s annual base salary on his Date of Termination, plus if applicable, the average of the Annual Incentive Plan awards received by the Employee for the last three fiscal years, divided by fifty-two (52) weeks. Such average shall be of fewer than three awards if the Employee is eligible for the Annual Incentive Plan at the Date of Termination and became eligible for the Annual Incentive Plan during the last three fiscal years. For purposes of the Plan, “annual base salary,” shall exclude:

Weekly Pay means your weekly base salary rate at the time of your termination date, including regularly scheduled shift differential where applicable, and excluding overtime pay and other allowances.

Weekly Pay means an employee's normal rate for an ordinary week's work at the time of the redundancy. Normal rate of pay does not include overtime allowance and other similar payments that are not included for the purpose of calculating overtime, and /or shift structure.

Weekly Pay means the Employee’s annual base salary on his Date of Termination, plus if applicable, the average of the Annual Incentive Plan awards received by the Employee for the last three fiscal years, divided by fifty-two (52) weeks. Such average shall be of fewer than three awards if the Employee is eligible for the Annual Incentive Plan at the Date of Termination

Weekly Pay means the current weekly rate of pay of the person insured, excluding bonuses, overtime pay and any other special compensation, and benefits shall be determined on the basis of a seven day work week. Benefits accrue from the eighth consecutive day of disability due to accident and sickness. Benefits are payable for a maximum of fifty-two weeks for any one period of disability. If a disabled person is eligible to receive benefits under the United States Social Security Act, these benefits will be constituted in calculating his amount of Short Term Disability benefit, whether or not the disabled person has submitted a claim for Social Security benefits. If once Short Term Disability benefits are begun, the actual amount of Social Security benefits paid is greater or lesser than what was calculated under the Policy, adjustments will be made in future Short Term Disability benefits. The adjustments made may include no payment of Short Term Disability benefit for any one week, or a refund of benefits by the disabled person. This plan pays you a weekly benefit for periods during which you are disabled and prevented from working as a result of covered non-occupational injury or sickness. The day which your benefits will start in the case of disability resulting from accident or sickness, the maximum number of weeks for which the benefit is payable, and the amount of your weekly rate of benefit are all shown in the Schedule of Insurance. Benefits are payable for periods of disability which commence while insurance is in force, and although it is not necessary to be confined to a hospital to receive the weekly benefits, you must be under the care of an authorized physician and you must not be able to engage in any work. Payment will be made for separate and distinct periods of disability that may occur while the insurance is in force. For the purposes of determining the maximum number of weeks for which benefits will be payable and the applicability of a waiting period in any specified case, successive periods of disability due to the same or related causes not separated by a return to active work on a full-time basis for at least two weeks shall be considered as one period of disability. Successive or concurrent periods of disability due to entirely unrelated causes shall be considered as one period of disability unless separated by a return to active work on a full- time basis.

Weekly Pay means your weekly base salary rate at the time of your termination date, including regularly scheduled shift differential where applicable, and excluding overtime pay and other allowances. You are solely responsible for the payment of all taxes that results from your receipt of severance pay benefits. In addition, all severance pay benefits will be subject to all applicable federal, state and local tax withholding requirements. Severance pay benefits will be reduced by amounts provided in respect of any Worker Adjustment and Retraining Notification Act (WARN) obligation. Severance payments will be made from the general assets of the Company. Severance pay will be paid in installments according to your business or divisions normal payroll cycle, with the first payment, which will cover the severance pay that is payable to you within 60 days after your termination date, paid to you on the first payroll date that occurs within such 60 day period, (provided that should such 60 day period span two calendar years, such payments will commence in the second of the two calendar years) and the remaining installments, if any, of your severance pay, paid according to your business or unit’s normal payroll cycle; provided that in order for you to receive severance pay under the Plan the Company must receive an effective waiver/release and the revocation period for such release must have expired within such 60 day period. In addition, you must return all Company property as described under “When You Are Eligible” above. If you are receiving severance pay and are rehired by the Company, you must agree to forego any remaining severance pay beyond your rehire date. If your employment is again terminated before prior service has been bridged, (“Bridge” describes the period when you return to work for the Company and work an amount of time equal to the time you were not with the Company) you will be eligible to receive only that portion of severance pay that was foregone and not received.