GROSS BENEFIT definition
GROSS BENEFIT means a monthly amount equal to one-twelfth of 1.733% of the Executive's Five Year Average Earnings, multiplied by the number of his years of Credited Service, not in excess of thirty (30) years, as of his Commencement Date.
GROSS BENEFIT means, with respect to a Participant in the Plan who is a Former HP Employee who has an Accrued Benefit attributable to Years of Credited Service prior to November 1, 1993, the hypothetical Accrued Benefit determined prior to offset for the Participant’s Annuity Value.
GROSS BENEFIT means the amount described in Section 4.2(b), as recalculated per Section 4.2(d), if applicable.
Examples of GROSS BENEFIT in a sentence
WAITING PERIOD The number of days of Employer sponsored sick leave benefits BENEFITS FORMULA 65 per cent first $25,000.00 (gross) + 50% of the next 40% + 40% of the balance GROSS BENEFIT The amount derived from the benefit formula.