Actual Salary means the regular basic compensation paid or payable to an employee during a calendar year by the Company or an Affiliate (including tax-deferred contributions, otherwise payable to an employee, elected by the employee under any Savings Plan and including earnings not payable by application of a salary reduction election made pursuant to Section 125 of the Internal Revenue Code), but excluding any other items of compensation such as (i) bonuses and commissions, (ii) overtime, (iii) transportation benefit plan deferrals, (iv) compensation under the terms of the long-term component of the Incentive Compensation Plan of the Company paid during such Plan Year, (v) Workers’ Compensation, (vi) amounts paid by the Company for insurance, retirement or other benefits, (vii) contributions or payments made by the Company or an Affiliate (other than tax-deferred contributions elected by the employee) under any Retirement Plan, any Savings Plan, this Plan or other benefits, or (viii) dismissal or other payments made to an employee as a result of termination of employment. The Actual Salary of an employee will include any payment made under any short-term disability income plan of the Company or an Affiliate.

Actual Salary means the amount specified in item 6 of Schedule 1 or, where that amount is varied by clause 8, the varied amount;

Examples of Actual Salary in a sentence

Word/phrase Meaning Actual Salary The salary you actually receive.
The Actual Salary shall be prorated from the Nominal Salary in direct relation to the approved reduction of duties for the reduced appointment plus an amount of salary equivalent to the difference between the Employer contribution to the Pension Plan based on the Actual Salary and the employee’s contribution based on the Nominal Salary.
Contributions and benefits under the Academic Long Term Disability Plan will be based on the employee’s Actual Salary.
This must be within the stated range.The Actual Salary is calculated automatically, based on the annual salary, full time equivalent and weeks worked per year pro rata.
Prior to the beginning of each Plan Year, the Executive Participant will be provided with the opportunity to elect to irrevocably defer under this Plan the Applicable Percentage (or any whole lower percentage) of the Executive Participant’s Actual Salary earned in excess of the 401(a)(17) Limitations for such Plan Year.

More Definitions of Actual Salary

Actual Salary means the actual salary compensation amount paid to Best including Base Compensation and any increases to such compensation received pursuant to Section 5 of this Agreement, exclusive of any lump sum bonuses, incentive payments, or contingent compensation amounts. "Average Compensation Amount" shall mean the amount of compensation equal to the average of the aggregate amounts of Actual Salary, lump sum bonuses, incentive payments, or contingent compensation received by Best in each of the three (3) calendar years immediately preceding the year in which Best's employment by BLC is terminated. In the event of termination of Best's employment with BLC pursuant to Section 9 hereof, Best shall continue to be paid by BLC as follows:

Actual Salary means, where a teacher is employed on a full-time or part-time basis as a permanent teacher in a grant aided school or as a permanent peripatetic teacher, the rates of salary and allowances payable to that teacher as determined by the Department.

Actual Salary means the regular basic compensation paid or payable to an employee during a calendar year by the Company or an Affiliate (including tax-deferred

Actual Salary means the pro-rated Nominal Salary actually received by the Member during a Reduced Workload Period.