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.

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

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

Examples of Weekly Pay in a sentence

• The Weekly Pay shall be payable in equal weekly installments in accordance with the Company’s payroll policies.

• Unless provided in writing all employees will be paid as per the attached rate tables in Schedule A of Appendix A, “Schedule of Weekly Pay Rates’ and receive the above-mentioned rate increases.

• If a laid off employee has exhausted his/her unemployment compensation benefits under applicable law, the employee will be eligible for a weekly IEA Layoff Benefit equal to seventy-five percent (75%) of his Weekly Pay (as defined in Section 6 below).

• Your holiday pay will be calculated by taking the greater of your Ordinary Weekly Pay (4 week average) 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.

• The employee's "Average Weekly Pay" shall equal the quotient of (i) the sum of the employee's (A) annual base salary or annual base wage (as determined immediately prior to the employee's termination date or the Closing Date, whichever results in a larger amount), plus (B) the employee's Prorated Bonus, divided by (ii) 52 weeks.

• As soon as administratively feasible (and not more than five (5) business days) after the Company's receipt of the Release and the expiration of any applicable waiting periods contained herein, the Employing Companies shall pay to the Executive a single lump sum payment equal to the Executive's Weekly Pay multiplied by the greater of (i) fifty-two (52) or (ii) two (2) times her Years of Service.

• The vacation schedule for all employees shall be as follows: Years of Continuance Service (Begin Accruing) Maximum Annual Vacation Hours Accumulation Hours of Vacation Accrued Per Bi- Weekly Pay Period Date of Hire through the completion of 4 years 80 hours 3.08 Beginning 5th year through the completion of the 9'h year 120 hours 4.62 Beginning 10th year through the completion of the 25th year 160 hours 6.15 Beginning the 26'h year through retirement.

• This approval will detail the certification requirements during the Weekly Pay Curative Period.

• Weekly Pay x Payment for invoices for purchases made Saturday through Friday must be received the following Wednesday by EFT.

• This Agreement, including all exhibits and attachments, constitutes the entire agreement between the parties regarding the Curative Plan and Weekly Pay Curative Period.

More Definitions of Weekly Pay

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.

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 of pay for an ordinary weeks work at the time of redundancy. Normal rate of pay does not include overtime, disability allowances and other similar payments, which are not included for the purposes of calculating overtime and or annual leave.

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 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

Weekly Pay means, (i) for salaried employees, the employee’s annual base salary rate in effect on the date of notice of termination divided by 52, and (ii) for non-salaried employees, the employee’s average weekly pay for the 52 weeks preceding the notice of termination. Weekly Pay for “part-time” employees is pro-rated based on their schedule. Weekly Pay does not include bonuses, overtime compensation, and prizes. For individuals on sales incentive compensation programs, Weekly Pay is determined are calculated by taking base pay plus average sales commission for the preceding three (3) full calendar years. In any one (1) year period, base plus commissions will not exceed $300,000 for the purpose of determining Weekly Pay.