Accrued Earnings definition

Accrued Earnings means the net income after taxes (determined by taking into account ordinary course items based on interim closings of the books as of the Earnings Preservation Date and the Closing Date) of the Company and each Subsidiary between the Earnings Preservation Date and the Closing Date.
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Examples of Accrued Earnings in a sentence

  • The Debenture Guarantor shall give prompt written notice to the Trustee of any fact known to the Debenture Guarantor that would prohibit the making of any payment to or by the Trustee in respect of the Guarantee.

  • The Bank’s obligation to provide any payment in addition to Accrued Earnings or reimbursement under Sections 5.2, 5.3 or 5.4 is conditioned upon Employee’s execution of an enforceable release of all claims and his compliance with Section 6 of this Agreement.

  • If, within twelve (12) months following the date on which a Redundancy Transaction occurs, the Bank terminates Employee’s employment and this Agreement without Cause or by notice of non-renewal or Employee terminates his employment and this Agreement in accordance with Section 4.5 (Redundancy Transaction), then, in addition to the Accrued Earnings, Employee shall be entitled to receive, subject to Section 5.5 (Required Release) the pay and benefits described in Sections 5.3.1 and 5.3.2. above.

  • If the Bank terminates Employee’s employment and this Agreement without Cause, by notice of non-renewal, or for Disability, then the Bank shall, in addition to the Accrued Earnings, pay Employee a lump sum amount equal to twelve (12) months of his then current Base Salary (less applicable taxes and withholdings).

  • As used herein, the term "Property" shall mean the Deposits (as hereinafter defined) and Accrued Earnings.

  • If, within twelve (12) months following the date on which a Redundancy Transaction occurs, the Bank terminates Employee’s employment and this Agreement without Cause or by notice of non-renewal or Employee terminates her employment and this Agreement in accordance with Section 4.5 (Redundancy Transaction), then, in addition to the Accrued Earnings, Employee shall be entitled to receive, subject to Section 5.5 (Required Release) the pay and benefits described in Sections 5.3.1 and 5.3.2. above.

  • The Bank’s obligation to provide any payment in addition to Accrued Earnings or reimbursement under Sections 5.2, 5.3 or 5.4 is conditioned upon Employee’s execution of an enforceable release of all claims and her compliance with Section 6 of this Agreement.

  • All proceeds, interest and other payments or distributions made upon or with respect to any investments made pursuant to the provisions hereof (collectively, the "Accrued Earnings") shall be reinvested in the manner provided in paragraph 20.

  • If the Bank terminates Employee’s employment and this Agreement without Cause, by notice of non-renewal, or for Disability, then the Bank shall, in addition to the Accrued Earnings, pay Employee a lump sum amount equal to twelve (12) months of her then current Base Salary (less applicable taxes and withholdings).

  • You will also be entitled to any accrued vested benefits under any other benefit plans, programs or arrangements of the Company or its appropriate affiliate (including any vested benefits under the Company's qualified and nonqualified retirement plans), subject to the terms of such plans, programs or arrangements (the “Accrued Benefits,” and, together with the Accrued Earnings, the “Accrued Obligations”).

Related to Accrued Earnings

  • Retained Earnings means the retained earnings of an FHLBank calculated pursuant to GAAP.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Weekly Earnings means your gross weekly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • Base Earnings means base salary and wages payable by the Company or a Participating Subsidiary to an Eligible Employee, prior to pre-tax deductions for contributions to qualified or non-qualified (under the Code) benefit plans or arrangements, and excluding bonuses, incentives and overtime pay but including commissions.

  • Accrued Amounts means:

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

  • Accrued income means the sum of:

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Core Earnings means, with respect to any Person for any period, net income determined in accordance with GAAP of such Person and its consolidated subsidiaries and excluding (but only to the extent included in determining net income for such period) (i) non-cash equity compensation expense, (ii) the expenses incurred in connection with the formation of the Sponsor and the offering in connection therewith, including the initial underwriting discounts and commissions, (iii) acquisition costs from successful acquisitions (other than acquisitions made in the ordinary course of business), (iv) real property depreciation and amortization, (v) any unrealized gains or losses or other similar non-cash items that are included in net income for the current quarter, regardless of whether such items are included in other comprehensive income or loss, (vi) extraordinary or non-recurring gains or losses and (vii) one-time expenses, charges or gains relating to changes in GAAP; provided that Core Earnings shall, solely with respect to the Core Earnings attributable to any Non Wholly-Owned Consolidated Affiliate, only include the Consolidated Group Pro Rata Share of such attributable amount.

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

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • net earnings means such earnings as are calculated in accordance with paragraph 42 or 52, as the case may be;

  • Accrued Expenses means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.

  • Payoff Earnings For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Payoff Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Average Bonus means the average of the bonuses paid to Employee over the last two years (or such lesser number of years in which Employee was eligible to receive a bonus) in which the Employee was eligible to receive a bonus.

  • Excess Earnings means, with respect to Mortgage Loans held in any subaccount of the Acquisition Account or the Loan Recycling Account established in connection with a Series of Tax- exempt Bonds, the "excess earnings," as defined in Treasury Regulations § 1.148-10T, with respect thereto.

  • Accrued Obligations are (i) Executive’s accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.