Compensation Credit definition

Compensation Credit means an amount equal to 9% of the Participant’s Compensation. Such credit shall be computed and credited to the Participant’s Account on an annual basis as of the last business day of the year. In order to receive a Compensation Credit for a given year, the Participant must be actively employed by the Company or a Subsidiary or Affiliate on the last business day of the year.
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Examples of Compensation Credit in a sentence

  • The reciprocal compensation credit for traffic exchanged pursuant to Section 4.2 shall be calculated as follows: Reciprocal Compensation Credit = (A/B)*C*D Where A=Actual mobile to land traffic B=mobile to land factor(75%) C=land to mobile factor D=Reciprocal Compensation Rate Total Net Compensation Credit Due RLEC= Total mobile to land minutes delivered pursuant to section 4.1* $0.024/min +total mobile to land minutes delivered pursuant to section 4.2* $0.024/min less Reciprocal Compensation Credit.

  • The City agrees to deduct from the wages of employees giving written authorization any moneys for the U.S. Savings Bond Program, Deferred Compensation, Credit Union and United Way, to the extent these programs continue to be made available to all other city employees.

  • Compensation Credit will be awarded on the basis of one (1) semester unit for each 15 hours of course/activity attendance.

  • Qwest may reduce Intercarrier Compensation Credit LM MOU and ▇▇▇▇ WSP for the resulting MOU at interstate switched Access Tariff rates.

  • Employee's Salary Deferred Compensation Credit shall not be paid to Employee but such amount shall instead be deferred and credited to Employee's Account (as defined in Section 12(a) of the Employment Agreement) as deferred compensation in accordance with Section 12 of the Employment Agreement.

  • Step 5 - Multiply the monthly total minutes calculated in Step 4 by the applicable intercarrier compensation rate specified in Exhibit A to obtain the Intercarrier Compensation Credit for the month.

  • Any minutes of use eligible for the Intercarrier Compensation Credit which are adjusted (debit or credit) will directly result in an adjustment in the Intercarrier Compensation Credit.

  • The number of Share Units into which such Compensation Credit shall be converted (calculated to four decimal places) will be determined as of the fourth trading day after the date the Compensation Credit is made and will be equal to the amount of the Compensation Credit divided by the Fair Market Value of a share of Common Stock, determined as set forth below.

  • The number of Share Units into which such Compensation Credit shall be converted (calculated to four decimal places) will be determined as of the fifth trading day after the date the Compensation Credit is made and will be equal to the amount of the Compensation Credit divided by the fair market value of a share of LMI Common Stock, determined as set forth below.

  • For these purposes, the Salary Deferred Compensation Credit and all interest so accrued on the credit balance of Employee's Account shall be deemed to be credited to Employee's Account as of the end of each month of each Term Year, and the Company Deferred Compensation Credit shall be deemed to be credited to Employee's Account as of December 31 of each Term Year, as provided in Section 12(b) hereof.