Expected Earnings definition
Expected Earnings means base pay at the Hire Date plus annualized target annual incentive bonus. If a Participant first becomes eligible for this Plan after the first year of employment, Expected Earnings will mean the actual base pay and annual incentive bonus payable for the full calendar year of employment immediately prior to eligibility for the Plan.
Examples of Expected Earnings in a sentence
If the 2006 Reference Earnings are less than the 2006 Expected Earnings, the Company shall, within 10 days of the delivery of the 2006 Audited Financial Statements, pay to the Purchasers the adjustment amounts resulting from the adjustment specified in the preceding sentence in the form of a wire transfer of immediately available funds.