lump sum compensation definition

lump sum compensation means such compensation as is mentioned in regulation 8;
Sample 1
lump sum compensation. The lump sum compensation payable hereunder shall be equal to 2.999 times the average annual compensation includable in your gross income (without regard to the exclusion of any elective contribution or elective deferral under any plan qualified under Section 401(k) of the Code) for your most recent five taxable years ending before the date of such change in control; provided:
Sample 1
lump sum compensation means compensation under regulation 10;
Sample 1

Examples of lump sum compensation in a sentence

  • Such a Voluntary Termination of employment shall not terminate Executive’s right to receive the Lump Sum Compensation described in Exhibit 1 provided that he fulfills the conditions precedent to his receipt of such compensation as described in Exhibit 1.

  • He may also be entitled to receive the Lump Sum Compensation described in Exhibit 1 if he performs the conditions precedent to receipt of that compensation.

  • Except as otherwise provided in Section 5(a) of the Agreement relating to the Executive’s Voluntary Resignation or termination for Cause, Executive shall be entitled to Lump Sum Compensation of $2,500,000 so long as he abides by the provisions of section 9, 10 and 12 of this Agreement through March 31, 2009.

  • Xxxxxx Exhibit 1 Elements and Payment of Base Compensation Executive’s Base Compensation shall consist of the Salary and Lump Sum Compensation as described in this Exhibit 1.

  • In the event of Executive’s disability during the term of this Agreement: (A) Executive shall be entitled to receive his Salary paid up until the date of termination and, provided that Executive continues to comply with the obligations of sections 9, 10 and 12 of this Agreement, he shall be entitled to receive the full amount of the Lump Sum Compensation component of his Base Compensation, as described in Exhibit 1.

  • The Executive’s compensation during the term of this Agreement shall consist of (i) Salary, and (ii) Lump Sum Compensation, as described in Exhibit 1.

  • Executive shall be entitled as of April 15, 2009 to be paid the largest portion of the Lump Sum Compensation which will not be limited or eliminated by application of Section 162(m) of the Code.

  • In the event of Executive’s death during the term of this Agreement: (A) Executive shall be entitled to receive his Salary paid up until the date of death and shall be entitled to receive the full amount of the Lump Sum Compensation component of his Base Compensation, as described in Exhibit 1, except that all amounts payable shall be accelerated and payable within 90 days of Executive’s death.

  • Any portion of the Lump Sum Compensation otherwise payable that is delayed pursuant to this provision shall be paid at the earlier of (i) the date that the Company reasonably anticipates that the deduction of the payment of the amount will not be limited or eliminated by the application of Section 162(m) or (ii) the calendar year in which the Executive separates from service.

  • If Executive is a Covered Employee for such taxable year, the payment of the Lump Sum Compensation, or portion thereof, shall be delayed until the Company reasonably anticipates that the Company’s deduction with respect to such payment, or portion thereof, will not be limited or eliminated by the application of Section 162(m) of the Code.


More Definitions of lump sum compensation

lump sum compensation means compensation within paragraph 26(4)(c) or (e) of that Schedule.
Sample 1

Related to lump sum compensation

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Basic Compensation means Salary and Benefits.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Final compensation of a member means:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

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

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

  • 415 Compensation means:

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Retirement Benefit means the benefit set forth in Article 5.

  • Termination Benefit means the benefit set forth in Article 7.

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

  • Additional Compensation has the meaning set out in Section 13.3(1).

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Eligible Compensation means, with respect to each Participant for each pay period, the full salary and wages paid to such Participant by the Company or a Participating Subsidiary, including commissions, bonuses (to the extent not excluded below), overtime pay and shift differentials. Except as otherwise determined by the Committee, “Eligible Compensation” does not include

  • Creditable compensation means the full compensation payable annually to an employee working

  • Earnable compensation means the full rate of the

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • 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.

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Average final compensation means the average annual creditable compensation of a member during