Formula Compensation definition

Formula Compensation means the Legg Mason Branch Manager Bonus for a Branch Manager for a Plan Year calculated on the Branch Manager Worksheet provided to the Branch Manager by the Company.
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Formula Compensation means the cash compensation due a Professional Branch Manager (excluding the value of any Deferred Bonus or Retention Award, and excluding any Recruiting Bonus) for a Fiscal Year as determined under the Company’s Branch Manager Compensation Schedule for such Fiscal Year or the Compensation Arrangement for such Professional Branch Manager for such Fiscal Year, as applicable; provided that, in calculating Formula Compensation for purposes of the Program, the provisions of the Branch Manager Compensation Schedule or Compensation Arrangement that reduce a Professional Branch Manager’s compensation for the Fiscal Year by up to $12,000 shall be disregarded.
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Examples of Formula Compensation in a sentence

  • Total Impact (Low) Total Impact (High) Additional Compensation less than 758,371.00 758,371.00 No Additional Formula Compensation 758,372.00 1,002,341.00 1% increase on scale 1,002,342.00 1,272,771.00 2% increase on scale 1,272,772.00 1,516,742.00 1% increase on scale + one additional step 1,516,743.00 2% increase on scale + one additional step For example, if Step 4 is between $758,372.00 and $1,002,342.00, employees receive a 1% increase on the scale plus one step granted in Section 2 above.

  • Total Impact (Low) Total Impact (High) Formula Compensation less than 514,400.00 514,400.00 1 % increase on scale 514,401.00 758,371.00 One Step Increment 758,372.00 1,002,341.00 1% increase on scale + one step 1,002,342.00 1,272,771.00 2% increase on scale + one step 1,272,772.00 1,516,742.00 1% increase on scale + two steps 1,516,743.00 2% increase on scale + two steps For example, if Step 4 is $300,000, employees would not receive any additional compensation per the formula.

  • For purposes of all other Employer contributions (except if the Employer selects an Integrated Allocation Formula), Compensation will exclude the following: [X] (1) overtime.

  • For purposes of all other Employer contributions (except if the Employer selects an Integrated Allocation Formula), Compensation will exclude the following: o (1) overtime.