YTD Compensation definition
YTD Compensation means the sum of all Commissions, Recoverable Draw, and bonuses paid year to date. At the pay period immediately after the occurrence of a “Commissionable Event,” a commission shall be paid for the pay period, if and only if the YTD Commissions are greater than the YTD Compensation. The amount of commission due shall be the YTD Commissions minus the YTD Compensation. At each pay period, if the YTD Compensation exceeds the annual Recoverable Draw, the portion of the Recoverable Draw due for that pay period and all subsequent pay periods in the year shall no longer be paid, and thereafter the Executive shall be responsible to pay to the Company the employee portion of his elected benefits for continued coverage.
Examples of YTD Compensation in a sentence
A Tenant Screening Verification includes, where available, the following data field attributes: (i) Social Security Number, (ii) Employee Name, (iii) Employee Position Title, (iv) Employment status, (v) Record as of Date, (vi) Employee’s Most Recent Hire Date, (vii) Total Employee Length of Service, (viii) Employer Name, (ix) Rate of Pay, (x) Year to Date (“YTD”) Total Compensation, (xi) Total Previous YTD Compensation.