Compensation and Benefits. Section hereof shall be applicable in determining the payments and benefits due Employee under this Section and if Termination occurs after a reduction in all or part of Employee’s total compensation or benefits, the lump sum severance allowance and other compensation and benefits payable to him pursuant to this Section shall be based upon his compensation and benefits before the reduction.
Compensation and Benefits section hereof shall be applicable in determining the payments and benefits due the Executive under this section and if Termination occurs after a reduction in all or part of the Executive's total compensation or benefits, the lump sum severance allowance and other compensation and benefits payable to him pursuant to this section shall be based upon his compensation and benefits before the reduction.
Compensation and Benefits means: (i) a monthly base salary equal to the highest monthly base salary paid to the Executive by the Company during the twenty-four (24) months immediately prior to the Effective Date; (ii) an annual bonus in cash equal to the average bonuses paid to the Executive during the twenty-four (24) month period immediately prior to the Effective Date; (iii) incentive, savings, welfare benefit, fringe benefit, medical, dental, vision, disability, and retirement plan participation at least equal to the most favorable coverage and options in effect for senior executives of the Company during the twelve (12) month period immediately prior to the Effective Date; and (iv) the obligations accrued at the Effective Date with respect to salary, bonuses, deferred compensation, vacation pay, death and disability benefits (if any).
Examples of Compensation and Benefits in a sentence
Compensation and Benefits provided by a third party$0 Input all benefits provided by a third party and contractually guaranteed by the institution, but not included on the institution's W-2.
For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact the International Compensation and Benefits Group.
No counterparty shall have rights under a Compensation and Benefits Program assumed pursuant to the Plan other than those applicable immediately prior to such assumption.
Additional resources are also available in the Compensation and Benefits section of UCnet to help you with your health and welfare plan decisions.
You understand that if you reside outside the United States, you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case and without cost, by contacting in writing the International Compensation and Benefits Group.
More Definitions of Compensation and Benefits
Compensation and Benefits. The first sentence of Section 2.1 is hereby amended and modified so as to reflect Executive's current salary as $345,000 per annum.
Compensation and Benefits. Trust shall contain the following additional provisions:
Compensation and Benefits. Base Salary” is deleted in its entirety and replaced with the following:
Compensation and Benefits section hereof shall be applicable in determining the payments and benefits due Employee under this section and if Termination occurs after a reduction in all or part of Employee’s total compensation or benefits, the lump sum severance allowance and other compensation and benefits payable to him pursuant to this section shall be based upon his compensation and benefits before the reduction. If any provision of this Section cannot, in whole or in part, be implemented and carried out under the terms of the applicable compensation, benefit or other plan or arrangement of the Company because Employee has ceased to be an actual employee of the Company, due to insufficient or reduced credited service based upon his actual employment by the Company or because the plan or arrangement has been terminated or amended after the Effective Date, or for any other reason, the Company itself shall pay or otherwise provide the equivalent of such rights, benefits and credits for such benefits to the Employee, his dependents, beneficiaries and estate as if Employee’s employment had not been terminated. All life, health, hospitalization, medical and accident benefits available to Employee’s spouse and dependents shall continue for the same term as Employee’s benefits. If Employee dies, all benefits will be provided for a term of one (1) year (or two (2) years if after a Change in Control) after the date of death of Employee. The Company’s obligation under this Section to continue to pay or provide health care, life, accident and disability insurance to Employee, Employee’s spouse and Employee’s dependents shall be reduced when and to the extent any such benefits are paid or provided to Employee by another employer; provided, however, that Employee shall have all rights, if any, afforded to retirees to convert group life insurance coverage to the individual life insurance coverage as, to the extent of, and whenever his group life insurance coverage under this Section is reduced or expires. Apart from this subparagraph, Employee shall have and be subject to no obligation to mitigate. The Company shall deduct applicable withholding taxes in performing its obligations under this Section. Nothing in this Section is intended, nor shall be deemed or interpreted, to be an amendment to any compensation, benefit or other plan of the Company. To the extent the Company’s performance under this Section includes the performance of the Company’s obligations to Employee under any other plan o...
Compensation and Benefits a) Salary: $250,000 per year.
Compensation and Benefits is hereby amended as follows:
Compensation and Benefits. In recognition of Employee's efforts and his agreement to extend the initial term of the Agreement, Employee shall receive a lump sum payment in the amount of $75,000 on or about August 6, 2001, and shall be entitled to receive performance bonuses in the amounts of $37,500, on each of November 5, 2001 and February 1, 2002, respectively, upon satisfactory completion of performance objectives established by the Governance Committee of the Board of Directors. All other terms of the Agreement shall remain unchanged. Dated as of the 6 day of August, 2001. /s/ Leonard M. Snyder /x/ Laurie M. Shahon -------------------------- ------------------------- Leonard M. Snyder Laurie M. Shahon Chair - Compensation Committee Board of Directors