Annual Pay definition
Annual Pay means the sum of (i) an amount equal to the annual base salary rate payable to the Executive by the Company at the time of termination of his or her employment plus (ii) an amount equal to the target bonus established for the Executive for the Company’s fiscal year in which his or her termination of employment occurs, but in either case, without giving effect to any reduction therein occurring following a Change in Control.
Annual Pay means the sum of the Employee’s (i) base salary in effect on the date of termination and (ii) the last annual bonus paid to the Employee by the Company prior to the date of termination.
Annual Pay means an amount equal to the annual basic rate of pay of an Eligible Employee, in the form of base salary or wages, as determined from the payroll records of the Company or Designated Subsidiary, including amounts contributed by an Eligible Employee under Section 401(k) or 125 of the Code, but excluding all other cash and non-cash compensation paid to an Eligible Employee during a Purchase Period by the Company or Designated Subsidiary. Without limiting the generality of the foregoing, Annual Pay shall not include overtime, incentive compensation (including any compensation attributable to the grant, vesting, exercise, payment or disposition of stock options, restricted stock units, restricted stock, performance stock units or any other equity-based award), any amount includible in an Eligible Employee’s income as a result of making an election under Section 83(b) of the Code, commissions, bonuses, any contributions by the Company or Designated Subsidiary, to, or benefits paid under, the Plan or any other pension, profit-sharing, fringe benefit, group insurance or other employee welfare plan or any deferred compensation arrangement (other than pursuant to Section 401(k) or 125 of the Code), expenses and reimbursements, and any other special or extraordinary compensation. Notwithstanding the foregoing, the Committee, in its sole discretion, may adjust the types of compensation constituting Annual Pay; provided that any such determination shall be applied on a uniform and consistent basis to all Eligible Employees.
Examples of Annual Pay in a sentence
In the event that Customer shall, directly or indirectly, through an Affiliate or otherwise, employ or retain as an independent contractor any MTM Personnel, Customer shall pay MTM a conversion fee in accordance with the following fee schedule: For illustration purposes only, if Customer hires MTM Personnel with an Annual Pay Rate of $100,000 after MTM Personnel has provided 700 hours of billable services, Customer shall pay MTM a conversion fee of $10,000 (10% of $100,000).
More Definitions of Annual Pay
Annual Pay means the employee's basic monthly pay added to his/her longevity award as provided for in Article 14, his/her public service duty, E.M.T. allowance, and roll call pay as provided for in Article 15, and his/her educational credit allowance as provided for in Article 16, multiplied by 12.
Annual Pay means and refer to annual base rate of pay as determined from the payroll records on such date as shall be designated by the Committee for any offer of Stock made pursuant to this Plan.
Annual Pay means Base Salary multiplied by 52.
Annual Pay means an amount equal to the annual basic rate of pay of an Eligible Employee as determined from the payroll records of the Company or a Subsidiary on the effective date of an offer of stock made pursuant to the Plan.
Annual Pay means the member's actual annual rate of pay being paid within the ranges specified in the pay tables for Regular Force personnel. While a member is on any period of service without pay, as granted by the appropriate authority of the Canadian Forces, such rate of pay shall be that which was in effect for the member on the last day of paid service immediately preceding said period of service without pay.
Annual Pay means with respect to each Salaried Employee the sum of:
Annual Pay means an amount equal to the sum of (i) the