Projected Compensation definition
Projected Compensation means (i) for any calendar year throughout which the Employee is employed by the Corporation, his Compensation (as defined in paragraph 3(b) hereof) for such year, and (ii) for any calendar year during or after which his employment has been terminated, the compensation the Employee would have received for such year if he had received (A) salary at a rate determined by projecting his annual rate of salary at the end of the last full calendar year of his employment forward at a rate equal to 5% in excess of the annual percentage change in the Consumer Price Index as published by the U.S. Bureau of Labor Statistics for such year and (B) a bonus equal to 40% of his salary as thus projected.
Projected Compensation means Compensation increased by five percent (5%) annually from Separation from Service, Change in Control or the Executive's death until the date the Executive would have reached age sixty-five (65).
Projected Compensation means (i) for any calendar year throughout which the Employee is employed by the Corporation, his Compensation (as defined in subsection 3(e) hereof) for such year, and (ii) for any calendar year during or after which his employment has been terminated, the compensation the Employee would have received for such year if he had received (A) salary at a rate determined by projecting his annual rate of salary at the end of the last full calendar year of his employment forward at an annual rate of increase equal to 5% in excess of the annual percentage change in the Consumer Price Index as published by the U.S. Bureau of Labor Statistics for the last full year of his employment and (B) a bonus each year equal to fifty percent (50%) of his salary as thus projected.
Examples of Projected Compensation in a sentence
Such bonds executed by Operator and surety company licensed to do business as such in the State of California, in an amount equal to the Total Projected Compensation for each yearly Term of the Agreement (as outlined in Section 3.1, above), renewable annually, shall, at all times, be kept in full force and effect.
More Definitions of Projected Compensation
Projected Compensation means the Executive's estimated annual Compensation for a future Determination Year and is equal to Compensation, including bonuses, for the year ending on the Valuation Date increased by the assumed future cost of living increases for such year.
Projected Compensation means (i) for any calendar year throughout which the Employee is employed by the Corporation, his Compensation (as defined in paragraph 3(b) hereof) for such year, and (ii) for any calendar year during or after which his employment has been terminated, the compensation the Employee would have received for such year if he had received
Projected Compensation means (i) for any calendar year throughout which the Executive is employed by the Corporation, his Compensation (as defined in paragraph 3(b) hereof) for such year, and (ii) for any calendar year during or after which his employment by the Corporation has been terminated, the compensation the Executive would have received for such year if he had received (A) salary at a rate determined by projecting his annual rate of salary at the end of the last full calendar year of his employment by the Corporation forward at a rate equal to 5% in excess of the annual percentage change in the Consumer Price Index as published by the U.S. Bureau of Labor Statistics for such year and (B) a bonus equal to 40% of his salary as thus projected. (k) "Alternate Benefit Amount" shall mean the sum of $ , plus interest thereon from the date of this Agreement to the date of termination of the Executive's employment with the Corporation, calculated for each six month period commencing on January 1 and July 1 at an interest rate per annum equal to the six month London interbank offerred rate for prime banks on deposits in U.S. dollars as published in a newspaper of daily circulation in London, England on the day preceding the date of this Agreement (in the case of the period from the date of this Agreement to and including December 31, 1996), and, thereafter, on the December 31 or June 30 (or, if no such rate is published on any such date, on the last day prior thereto that such an interest rate is so published) immediately preceding each such six month period , plus 0.75%.