Average Annual Income definition

Average Annual Income shall be calculated as the sum of the Employee’s Annual Base Pay and Annual Cash Bonus for the preceding five (5) fiscal years of the Employer divided by five (5). The severance pay will be paid to the Employee within the period specified in Section 10(b)(3) below after the expiration of any applicable revocation periods set forth in the Release. This severance payment will not be considered compensation for the purpose of any other fringe benefit plan of the Employer.
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Average Annual Income means the average of the gross income derived by the assessee from the life interest during each year of the period ending on the valuation date, reduced by the average of the expenses incurred on the collection of such income in each of those years :
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Average Annual Income shall be calculated as the sum of the Employee’s Annual Base Pay and Annual Cash Bonus for the preceding five (5) fiscal years of the Employer divided by five (5). The severance pay will be paid to the Employee at the regular pay dates of the Employer in equal payments over a thirty-six (36) month period commencing after the expiration of any applicable revocation periods set forth in the Release. This severance payment will not be considered compensation for the purpose of any other fringe benefit plan of the Employer. The Employer shall also pay the premiums associated with the continuation of the life insurance and health insurance benefits that the Employee was provided by the Employer as of the date of termination during the period of time that the severance payments are due hereunder.
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Examples of Average Annual Income in a sentence

  • Average Annual Income Range: Less than $25,000; $25,000–$35,000; $35,000–$45,000; $45,000–$55,000; $55,000–$65,000; $65,000–$75,000; and $75,000 and above.

  • To calculate home energy burden for each household reported in Section B1, the grantee will need to use their database (or a spreadsheet tool like Excel or Access) to add together each household’s Main Heating Bill + Annual Household Electricity Bill and divide by the household’s Average Annual Income.

  • Average Annual Income Range: Less than $25,000; $25,000–$35,000; $35,000– $45,000; $45,000–$55,000; $55,000–$65,000; $65,000–$75,000; and $75,000 and above.

  • Average Annual Income Range: Less than $25,000; $25,000–$35,000; $35,000–$45,000; $45,000–$55,000; $55,000–$65,000; $65,000– $75,000; and $75,000 and above.

  • Table 5.4 shows a breakdown of the average annual income for each local authority within the area.Table 5.4: Average Annual Income (2015)5.255.26 Dudley and Sandwell, which are likely to benefit most from the Brierley Hill Metro Extension, both have an average annual income far less than both the National and West Midlands Metropolitan Area, and are amongst the worst affected areas within this region.

  • If the Employer terminates the Employee’s employment without Cause or the Employee terminates the Employee’s employment for Good Reason, and such termination is coincident with or within an eighteen (18) month period following the occurrence of a Change in Control, the Employer shall pay Employee severance pay in an amount equal to 2.99 multiplied by the Employee’s Average Annual Income.

  • Average Annual Income Range: Less than $25,000; $25,000–$50,000; $50,000– $75,000; $75,000 and above b.

  • Must be having minimum Average Annual Income of Rs.15 Crore (Rupees Fifteen Crore) during the last THREE (03) Financial Years i.e. from 2019-20 to 2021-22.

  • Table 5: Average Annual Income from Different SourcesSourceIncome (USD)Total household income Government or public service (incl.

  • This is probably particularly true in costly urban areas, where midcareer earners anxious not to miss out on the real estate boom may have acquired costly apartments that leave them vulnerable to sudden drops in prices.


More Definitions of Average Annual Income

Average Annual Income shall be calculated as the sum of the Employee’s Annual Base Pay and Annual Cash Bonus for the preceding three (3) fiscal years of the Employer divided by three (3). The severance pay will be paid to the Employee no later than 60 days after the date of termination after the expiration of any applicable revocation periods set forth in the Release (as defined below). This severance payment will not be considered compensation for the purpose of any other fringe benefit plan of the Employer. To the extent the Employee elects to continue health insurance coverage under COBRA, the Company will pay the premiums for such coverage for a period of up to eighteen (18) months under the terms specified in Section 10(d)(1) below. The Employer shall also pay the Employee, no later than 60 days after the date of termination, a lump sum cash payment of $15,000 in order to cover the cost of post-termination benefit coverage and expenses associated with seeking another employment position.
Sample 1
Average Annual Income shall be calculated as the sum of Employee’s annual base salary and annual cash bonuses for the preceding three (3) fiscal years of Employer divided by three (3). The severance pay will be paid to Employee no later than sixty (60) days after the date of termination, subject to the conditions of Section 10(f). The severance pay will not be considered compensation for the purpose of any other fringe benefit program of Employer. To the extent Employee elects to continue health insurance coverage under COBRA, Employer will pay the premiums for such coverage for a period of up to eighteen (18) months under the terms specified in Section 10(d)(i) below.
Sample 1
Average Annual Income means an amount equal to (A) the sum of Employee’s annual base salary and annual cash bonuses for the three (3) fiscal years of Employer preceding the date of Employee’s termination of employment divided by (B) three (3).
Sample 1

Related to Average Annual Income

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Average annual payroll means the average of the annual

  • Average Annual Compensation For the purposes of this Agreement, “Average Annual Compensation” shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Average Annual Debt Service means, at the time of calculation, the sum of the Annual Debt Service for the remaining years of the loan to the last scheduled maturity of the loan divided by the number of those years.

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Pro-rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Semi-Annual Period means each of: the period beginning on and including January 1 and ending on and including June 30; and the period beginning on and including July 1 and ending on and including December 31.

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Annual income means all amounts, monetary or not, which:

  • Current Annual Compensation means the greater of:

  • 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.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Average monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Base Period Income is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Valuation Percentage means, for any item of Eligible Collateral, the percentage specified in Paragraph 13.

  • Maximum Annual Debt Service means, as of the date of any calculation, the largest Annual Debt Service during the current or any future Bond Year.

  • 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.

  • Quarterly Excess Spread Percentage means, with respect to the August 2008 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.