Compensation Component definition

Compensation Component means any of the following as applied to an Eligible Employee: (i) the Eligible Employee's base salary using annual rate in a partial year of service, (ii) any annual bonus plus special bonuses paid or accrued for the benefit of the Eligible Employee, whether or not under the Company's Profit Incentive Plan, (iii) "Participating Employer Contributions" (as that term is defined in the SARP under Section 5.2) for the Eligible Employee's benefit under SARP, (iv) allocations (other than of income or earnings) to the Eligible Employee's account under the ESOP, (v) credits under Section 6 of the SERP to the Eligible Employee's "Non-Directed Account" as that term is defined in the SERP, and (vi) "Matching Contributions" (as that term is defined in the SARP under Section 5.1A). For the avoidance of doubt, the following shall not constitute Compensation Components: accruals or benefits under the Company's Long Term Deferred Compensation Incentive Plan or any similar long-term plan, payments or reimbursements of or for relocation or moving expenses, or income in respect of the grant, vesting or exercise of stock (including restricted stock) awards or stock options.
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Examples of Compensation Component in a sentence

  • The Compensation Component shall be considered as compensation for services rendered to the Bank subsequent to the Merger and shall be determined and be payable in accordance with the provisions of the Bank’s Executive Incentive Plan as amended by the information set forth in Exhibits B, C, and D to this Agreement.

  • Krueger_____ Compensation Component Grade: E Grade: E % increase (base salary) N/A 5% Short-Term (Annual) Incentive Multiple 100.0% 100.0% Long-Term Incentive Multiple 200% 300% % increase (TTC) N/A 32% Two thirds of the AIP will be based on Company earnings before tax (EBT) performance against Board determined targets.

Related to Compensation Component

  • 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);

  • Compensation Plans shall have the meaning set forth in Section 3.11(b).

  • Basic Compensation means Salary and Benefits.

  • 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).

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