Benefit Compensation definition

Benefit Compensation means a Participant's Eligible Compensation divided by two. Benefit Compensation taken into account under the Plan shall in no event exceed the limitation in effect for that year under section 401(a)(17) of the Code. This limitation shall automatically be adjusted for each calendar year to reflect the cost-of-living adjustment (if any) announced by the Commissioner of Internal Revenue for such calendar year.
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Benefit Compensation means the average of the Participant's Annual Compensation for the three complete fiscal years in which such Annual Compensation was highest over the last ten fiscal years of the Participant's employment, but in no event shall such amount be less than the average of such Participant's Annual Compensation for the last 36 months of such Participant's employment.
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Benefit Compensation means the aggregate amount of a Participant’s base compensation and Target Bonus under the Management Bonus Plan, as determined from time to time.
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Examples of Benefit Compensation in a sentence

  • In the case of a Participant who has had a "Severance from Employment" with the Employer, the "Defined Benefit Compensation Limitation" applicable to the Participant in any Limitation Year beginning after the date of severance will be automatically adjusted under Code §415(d) unless otherwise selected below.

  • In the case of a Participant who has had a "Severance from Employment" with the Employer, the "Defined Benefit Compensation Limitation" applicable to the Participant in any "Limitation Year" beginning after the date of severance will be automatically adjusted under Code Section 415(d) unless otherwise selected below.

  • If the Executive's employment is terminated by reason of the Executive's death during the Employment Period, this Agreement shall terminate without further obligations to the Executive's legal representatives under this Agreement, other than for payment of Death Benefit Compensation under other contracts, if any, full vesting and non-forfeiture of stock options granted to Executive, and the timely payment or provision of Other Benefits.

  • In the case of a Participant who has fewer than 10 Years of Service or 1-year Periods of Service with the Employer, the Defined Benefit Compensation Limitation will be multiplied by a fraction, (A) the numerator of which is the number of Years of Service or 1-year Periods of Service (or part thereof) with the Employer and (B) the denominator of which is 10.

  • If the Annual Benefit payable to a terminated Participant who has not received a complete distribution of the Participant's nonforfeitable accrued benefit is limited by either the Defined Benefit Dollar Limitation or the Defined Benefit Compensation Limitation, then such benefit will be increased in accordance with cost of living adjustments under Code §415(d).

  • F 11006, 11008, 11010, 11012, 11014, 11019, $81,085 11050 to 11090, 131*, 140*, 141*, 151*] Salaries (Worked hours + Benefit hours cost) 17 F 31010, 31030, 31090, 35010, 35030, 35090 $3,060,528 Benefit Contributions 18 F 31040 to 31085 , 35040 to 35085 $757,318 Employee Future Benefit Compensation 19 F 305* $0 Physician Compensation 20 F 390* $0 Physician Assistant Compensation 21 F 390* $0 Nurse Practitioner Compensation 22 F 380* $0 All Other Medical Staff Compensation 23 F 390*, [excl.

  • AVERAGE COMPENSATION means the average of the Employee's annual Benefit Compensation for the five consecutive Years of Service that produce the highest average.

  • As of the date on which participation hereunder commences in accordance with paragraph 2.1 hereof, a Participant’s target benefit under the Plan shall be a death benefit equal to approximately 300% of his or her Benefit Compensation, determined as of such date.

  • If the Plan is not a multi-Employer Plan and the Participant has fewer than ten (10) Years of Service or 1-year Periods of Service with the Employer, the Defined Benefit Compensation Limitation will be multiplied by a fraction, (A) the numerator of which is the number of Years of Service or 1-year Periods of Service (or part thereof, but not less than one year) with the Employer and (B) the denominator of which is ten (10).

  • F 11006, 11008, 11010, 11012, 11014, 11019, 11050 to 11090, 131*, 140*, 141*, 151*] $12,000 Salaries (Worked hours + Benefit hours cost) 17 F 31010, 31030, 31090, 35010, 35030, 35090 $2,640,614 Benefit Contributions 18 F 31040 to 31085 , 35040 to 35085 $555,188 Employee Future Benefit Compensation 19 F 305* $0 Physician Compensation 20 F 390* $0 Physician Assistant Compensation 21 F 390* $0 Nurse Practitioner Compensation 22 F 380* $0 All Other Medical Staff Compensation 23 F 390*, [excl.