Prescribed Compensation definition

Prescribed Compensation means for the purpose of calculating the maximum compensation in respect of a Member on a Leave of Absence, the remuneration the Member could reasonably be expected to have received from the Company had he remained in the employment of the Company and in respect of a Member who is absent due to disability, or sick leave, the remuneration the member could reasonably be expected to have received from the Company, had the Member not been disabled. In respect of periods of absence other than disability, the total Prescribed Compensation shall not exceed five (5) years of full-time equivalent earnings plus up to three (3) additional years of full-time equivalent earnings in respect of periods of parenting as defined pursuant to the Regulations under the Income Tax Act (Canada).
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Prescribed Compensation means an amount calculated in accordance with Income Tax Regulation 8507(2) in respect of an Eligible Period of Temporary Absence of Absence which is also a qualifying period in accordance with Income Tax Regulation 8507(3) or a period during which the Member is Disabled. The total of the periods of reduced pay and Temporary Leaves of Absence for which compensation can be prescribed in respect of a Member is limited to the equivalent of five years of remuneration plus, the equivalent of an additional three years of remuneration for periods of parental leave occurring within the twelve months immediately following the birth or adoption of a child.
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Prescribed Compensation means in respect of service after 1991 an amount calculated in accordance with Income Tax Regulation 8507(2) in respect of a period under an RWA or a Temporary Leave of Absence which is a qualifying period as defined in 8507(3) or a period during which the Member is Disabled. The total of the periods under an RWA and Temporary Leaves of Absences for which compensation may be prescribed for a Member is limited to the equivalent of five years of remuneration plus the equivalent of an additional three years of remuneration for periods of parental leave occurring within the twelve months immediately after the birth or adoption of a child.
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Examples of Prescribed Compensation in a sentence

  • The Directors are also of the opinion that (A) the Prescribed Compensation is a fair and reasonable term and in the interest of the Company and the Shareholders as whole and (B) would not deter the Shareholders to freely consider and exercise their voting rights.

  • The Company would like to stress that the Prescribed Compensation is payable only if there is an Equity Exclusivity Period Breach, and the Equity Exclusivity Period Breach will occur only if the Vendor entered into agreement or understanding in relation to the transfers of the Sale Equity and the Sale Loan with parties other than the Purchasers and the Purchasers Parent during the Equity Exclusivity Period.

  • The Workers’ Compensation Board amended several other Regulations in 2019, effective April 6, 2020: the Fishing Industry Regulations, the Lower Maximum Administrative Penalties Regulation, the Occupational Disease Recognition Regulation, the Occupational Health and Safety Regulation, the Reports of Injuries Regulations, and the Review of Old Permanent Disability Awards Regulation (now entitled the Reconsideration of Prescribed Compensation Claims Regulation).

  • In further support of the Union’s position, we have included at Exhibit ‘A’ an undated letter in respect of “5 Year Service Prescribed Compensation Limit” addressed to the National Presidentof CAW-Canada Ken Lewenza by David Wenner, Director, Labour Relations on behalf of General Motors Canada Limited.

  • EFFECTIVE DATE: August 1, 2013AUTHORITY: Section 203 of the Act;Reconsideration of Prescribed Compensation Claims Regulation, B.C. Reg.

  • Salary for the purpose of determining a Member's Required Contributions shall not exceed the total of the Member's remuneration from the Employer for the period and the Member's Prescribed Compensation for the period.

  • Notwithstanding Sections 4.1 and 4.3, during a period of Temporary Leave of Absence for the purpose of sabbatical leave as approved by the Employer, a Member shall continue to accrue Pensionable Service under the Plan in respect of such periods provided that the Required Contributions are made to the Plan during such periods, subject to the Prescribed Compensation requirements.

  • The board reserves the right to contact references, supervisors, or employers for information about the applicant’s professional experience and competence or to request additional references.

  • Earnings for the purpose of determining benefits and contributions shall be inclusive of Prescribed Compensation.

  • Equipment should be locked in a secure area when unattended or when visual security of the area cannot be maintained by authorized staff.2. All computer equipment must be located in work areas or rooms having a limited number of entrances that can be securely locked after normal working hours.

Related to Prescribed Compensation

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after the effective date of the NYSE listing standard, (ii) after the person became an Executive Officer and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association.

  • 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.

  • 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).

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

  • 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).

  • Unemployment compensation means cash benefits (including depend- ents’ allowances) payable to individ- uals with respect to their unemploy- ment, and includes regular, additional, emergency, and extended compensa- tion.(2) Regular compensation means unem- ployment compensation payable to an individual under any State law, but not including additional compensation or extended compensation.(3) Additional compensation means un- employment compensation totally fi- nanced by a State and payable under a State law by reason of conditions of high unemployment or by reason of other special factors.(4) Emergency compensation means supplementary unemployment com- pensation payable under a temporary Federal law after exhaustion of regular and extended compensation.(5) Extended compensation means un- employment compensation payable to an individual for weeks of unemploy- ment in an extended benefit period, under those provisions of a State law which satisfy the requirements of the Federal-State Extended Unemploy- ment Compensation Act of 1970, as amended, 26 U.S.C. 3304 note, and part 615 of this chapter, with respect to the payment of extended compensation.

  • 415 Compensation means:

  • Basic Compensation means Salary and Benefits.

  • 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.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • 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

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

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

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

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Final compensation of a member means:

  • 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.

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

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Managing Member for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

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

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).