Final Annual Compensation means Holmxx' Xxse Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Holmxx xxxing the three (3) calendar years preceding his termination of employment.
Final Annual Compensation means the Participant's Compensation earned during the twelve (12) consecutive complete months of employment with Employer prior to the Participant's Disability.
Final Annual Compensation means the annual average determined by --------------------------- taking the sum of the total compensation paid to the Participant during the three (3) consecutive compensation years out of the Participant's final ten (10) years of employment with the Company which produce the highest three (3) year total amount, and dividing such sum by three (3).
Examples of Final Annual Compensation in a sentence
The sum of the Participant’s accrued target percentage credits under 2.01-2 is multiplied by Final Annual Compensation.
For an Employee who begins receiving benefits under the Plan on or after July 1, 2017, the term Final Annual Compensation shall not exceed $95,000.00 for the purpose of calculating such benefits in accordance with Section 3.1.
For purposes of determining Final Average Compensation under this section, the Participant shall be deemed to have earned an amount equal to Final Annual Compensation during each year the Disability continues.
The service retirement factors shall be multiplied by the Average Final Annual Compensation multiplied by the number of years and fractions of years of service credited to the retiree.
Benefits under the Plan shall cease upon the completion of the elected payment period.For a Participant whose period of service required under this Section commences before August 1, 2004, the amount of the monthly benefit shall equal one twelfth (1/12) of one percent (1%) of Final Annual Compensation multiplied by the number of obligated days as provided in subsections (a), (b) or (c) of this Section, divided by the duration of the payout period.
More Definitions of Final Annual Compensation
Final Annual Compensation means Holmxx' Xxse Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Holmxx xxxing the three (3) calendar years preceding his termination of employment. (k) "Final Average Annual Compensation" shall mean the average of Holmxx' Xxse Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xx determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Holmxx' xxployment terminates which yields the highest sum. (l) "Pension Plan" shall mean the existing Reynxxxx xxx Reynxxxx Xxxpany Non-Union Pension Plan, as the same may be amended from time to time. (m) "Retirement Benefits" shall mean payments to Holmxx xxxed upon his lifetime in an annual amount equal to a designated percentage of Holmxx' Xxnal Average Annual Compensation or, in the case of Section 8(d) below, Final Annual Compensation, which shall
Final Annual Compensation means the annual average determined by taking the sum of the Participant’s Total Compensation for the three (3) consecutive Compensation Years out of the Participant’s final ten (10) Compensation Years with the Company which produce the highest three (3) year total amount, and dividing such sum by three (3). 1.07-1 Total Compensation for any Compensation Year means the sum of (a) plus (b):
Final Annual Compensation means the sum of A + B, where “A” equals the Average Monthly Salary, multiplied by twelve, and “B” equals the average annual bonus earned by the Participant (regardless of when actually paid) for the three most recent consecutive fiscal years of the Company ending prior to the Participant’s retirement or other termination of employment (including, without limitation, death) occurs; provided, however, that “B” shall be limited to a maximum amount equal to 100% of “A.”
Final Annual Compensation means Nevix'x Xxxe Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any
Final Annual Compensation means the Participant’s Compensation paid during the twelve (12) consecutive complete months of employment with Employer prior to the Participant’s Disability.
Final Annual Compensation means Employee's Base Compensation at the time of termination of employment plus an amount equal to the average of all Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xxrned by Employee during the three (3) calendar years preceding his termination of employment. (k) "Final Average Annual Compensation" shall mean the average of Employee's Base Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynxxxx) xx determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Employee's employment terminates which yields the highest sum. (l) "Pension Plan" shall mean the existing Reynxxxx xxx Reynxxxx Xxxpany Non-Union Pension Plan, as the same may be amended from time to time. (m) "Retirement Benefits" shall mean payments to Employee based upon his lifetime in an annual amount equal to a designated percentage of Employee's Final Average Annual Compensation or, in the case of Section 7(d) below, Final Annual Compensation, which shall be comprised of the sum of (i) Employee's primary Social Security retirement benefits when he is entitled to receive such benefit (age sixty-two (62)) [until that time an amount equal to the primary Social Security retirement benefit shall be paid to Employee from Reynxxxx' Xxpplemental Plan], (ii) Employee's pension benefits determined as a life annuity (without regard to actual payment form) under the Pension Plan and deferred compensation payments under the Non-Qualified Deferred
Final Annual Compensation means the sum of the Participant's annual base salary plus target annual incentive compensation award under the Economic Value Added Plan (or comparable successor plan) immediately