Annual Final Compensation definition

Annual Final Compensation means, with respect to a Participant for a Plan Year, the amount determined in accordance with Subsection 26(D)(1) of the Sales Representative Agreement for that Plan Year.
Sample 1

Examples of Annual Final Compensation in a sentence

  • Independent Sales Representatives Deferred Annual Final Compensation and Equity Incentive Plan is hereby executed by the authorized representative of Zimmer this day of , 2002.

  • In that event, the full amount of his Annual Final Compensation for that Plan Year shall be credited to his Deferred Annual Final Compensation Account.

  • In the event a Participant elects to convert his Annual Final Compensation for a Plan Year under this Article, his Deferred Annual Final Compensation Account shall not be credited with any amount for that Plan Year.

  • Subject to Section 6.04 and Section 6.05, upon a Distribution Event, any and all amounts credited to a Participant’s Deferred Annual Final Compensation Account shall be paid in three (3) annual installments (each installment being one-third (1/3) of the total amount credited to the account) over three (3) consecutive years.

  • The Company holds, to the extent required, valid and subsisting franchises, licenses and permits authorizing it to carry on the regulated utility businesses in which it is engaged in the territories from which substantially all of the Company’s consolidated gross operating revenue is derived, except where the failure to hold such franchises, licenses and permits would not result in a Material Adverse Change.

  • It shall be calculated based upon (i) such Participant's actual Annual Final Compensation earned by such Participant as the date of the Change of Control, or the date of his termina- tion of employment whichever produces the greatest amount of Supplemental Normal Retirement Income, and (ii) the greater of such Participant's actual Years of Credited Service or ten (10) Years of Credited Service.

  • The maximum amount of Target Benefit to which you will be entitled at your Normal Retirement Date will be seventy-seven percent (77%) of your Annual Final Compensation.

  • A Participant who elects to convert his Annual Final Compensation into Deferred Stock Units for a Plan Year shall receive, subject to the terms of this Plan, a number of Deferred Stock Units equal to: A/C where A equals the Annual Final Compensation for the Plan Year; and C equals the Daily Average Share Price on the Valuation Date.

  • At no time shall the Participant’s Deferred Annual Final Compensation Account be credited with any earnings or interest.

  • If a Participant elects to convert his Annual Final Compensation into Stock Option Units for a Plan Year, the Participant will be granted a number of Stock Option Units, subject to the terms of this Plan, equal to the ratio of A over B, where: A equals Annual Final Compensation for the Plan Year; and B equals the Black-Scholes Option Value, determined by the Committee as of the Valuation Date for the Plan Year.

Related to Annual Final Compensation

  • Final compensation of a member means:

  • Annual Compensation means an amount equal to the greater of:

  • Average final compensation means the average annual creditable compensation of a member during

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Earnable compensation means the full rate of the

  • Current Annual Compensation means the greater of:

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Basic Compensation means Salary and Benefits.

  • Eligible Compensation means, with respect to each Participant for each pay period, the full salary and wages paid to such Participant by the Company or a Participating Subsidiary, including commissions, bonuses (to the extent not excluded below), overtime pay and shift differentials. Except as otherwise determined by the Committee, “Eligible Compensation” does not include

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Additional Compensation has the meaning set out in Section 11.3(1).

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • 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.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Creditable compensation means the full compensation payable annually to an employee working

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Annual Salary means the salary given under this Part.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).