Highest Annual Salary definition

Highest Annual Salary means Executive’s highest annual salary in any of the three years preceding the applicable date of determination, provided, however, that if the Executive’s then effective annual salary would be Executive’s highest annual salary upon completion of the current year of service, then Highest Annual Salary shall mean Executive’s then effective annual salary.
Highest Annual Salary means the twelve consecutive months of compensation authorized during a member's final legislative term for the highest position that a member ever held as a member of the General Assembly.
Highest Annual Salary means the twelve consecutive months of compensation paid to a legislator which yields the highest total amount.

Examples of Highest Annual Salary in a sentence

  • In addition, Executive shall be entitled to six (6) months of Executive’s Highest Annual Salary and 50% of the cash value of Executive’s Annual Performance Bonus at the applicable maximum achievable Performance Level as in effect as of the date of such termination, all less applicable withholding, paid in a lump sum within sixty (60) days of such termination as provided in Section 14.

  • When a Member has less than 3 years of service credit, but is vested through a combination of service credits from the Statewide Defined Benefit Plan and the Statewide Hybrid Plan, the Highest Annual Salary for periods of service that are less than three (3) years shall be calculated using the average salary paid for the period calculated on an annualized basis.

  • Monthly Retirement Benefit Calculation Formula AVERAGE MONTHLY SALARY Highest Annual Salary $ 119,250Second Highest Annual Salary 119,100Third Highest Annual Salary + 117,000 Salary for Highest 3 Years ÷$ 355,350 36 months Average Monthly Salary =$ 9,870.83YEARS OF SERVICE Years MonthsMilitary Service 2 1 Purchased Service+ 0 0 Service as a Justice or judge+ 15 6 SUBTOTAL A “major fraction” of a year (6 months and 1 day of service) rounds up to give the member 1 additional year of service credit.

  • Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the "Distribution Date"), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Highest Annual Salary.

  • The first or major procedure: the lower of 100% of the maximum allowed amount or the submitted charge.

  • Teachers’ Survivors Defined Benefit Pension Plan(Continued) Highest Annual Salary Benefits payable to children and families are equal to the spousal benefit multiplied by the percentage below: Parent and 1 Child Contributions - The contribution requirements of active employees and the participating school districts were established under Chapter 16-16 of the Rhode Island General Laws, which may be amended by the General Assembly.

  • Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the "Distribution Date", the Company will distribute the amount of Retirement Compensation that would have been payable to the Executive under Section 7.6(a) as of the Distribution Date, based on his years of service through the Distribution Date and his then Highest Annual Salary.

  • The performance of each metric is shown as a function of the number of downloaded documents.

  • Executive Compensation Trust II dated April April 21, 1999, as amended, is terminated (the "Distribution Date"), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Highest Annual Salary.

  • AVERAGE MONTHLY SALARY Highest Annual Salary Second Highest Annual SalaryThird Highest Annual Salary + Salary for Highest 3 Years Average Monthly Salary÷ 36 months YEARS OF SERVICE Years MonthsMilitary Service Purchased Service + Service as a Justice or judge + SUBTOTAL A “major fraction” of a year (6 months and 1 day of service) rounds up to give the member 1 additional year of service credit.

Related to Highest Annual Salary

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Current Annual Compensation means the greater of:

  • Annual Salary means the salary given under this Part.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Average Annual Compensation For the purposes of this Agreement, “Average Annual Compensation” shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change in Control, and (ii) the amount of any cash incentive bonus paid (or payable) for the most recently completed fiscal year of the Employer.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Highest Average Compensation means the average compensation for the three consecutive years of service with the employer that produces the highest average.

  • Pro-rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Termination Base Salary means Executive’s base salary at the rate in effect at the time the Notice of Termination is given or, if a greater amount, Executive’s base salary at the rate in effect immediately prior to the Change of Control.

  • Monthly salary means the current fixed monthly salary in cash. For part-time employees, the salary shall be adjusted to correspond to a full-time salary.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Annual Compensation means an amount equal to the greater of:

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Average annual payroll means the average of the annual

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Salary as defined in Section 3.1(a).

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Semi-Annual Period means each of: the period beginning on and including January 1 and ending on and including June 30; and the period beginning on and including July 1 and ending on and including December 31.