Salary definition

Salary as defined in Section 3.1(a).

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Salary means the Executive’s annual base salary as in effect immediately prior to the Executive’s Qualifying Termination (or if the termination is due to a resignation for Good Reason based on a material reduction in base salary, then the Executive’s annual base salary in effect immediately prior to the reduction) or, if the Executive’s Qualifying Termination is a Qualifying CIC Termination and the amount is greater, at the level in effect immediately prior to the Change in Control.

Salary means the salary or rate of pay prescribed for the employee's classification by clause 3, Salaries, Part B of this Award, and any other payment that can be salary packaged in accordance with Australian taxation law.

Examples of Salary in a sentence

• During the Term, the Executive may resign from employment without Good Reason upon at least sixty (60) days’ prior written notice to the Board of Directors, provided, however, that the Bank may accelerate the Date of Termination upon receipt of written notice of the Executive’s resignation (in which case, the Bank will continue to pay the Executive’s Base Salary through the remainder of the 60-day period).

• Any increase or decrease (as provided for above) in Base Salary will become the new “Base Salary” for purposes of this Agreement.

• The Bank will pay the Base Salary in accordance with its customary payroll practices.

• During the Term, the Board of Directors (or the Compensation Committee of the Board of Directors (the “Compensation Committee”)) may increase but not decrease (unless the decrease is proportionate to any Bank-wide decrease in officer base salaries), the Executive’s Base Salary.

• Notwithstanding the foregoing, the Executive will be provided with, at the Bank’s sole expense, life insurance coverage with a death benefit equal to the lesser of (i) three (3) times the Executive’s Base Salary or (ii) $1,000,000 (or such higher maximum limit as permitted by the Bank’s insurance provider).

More Definitions of Salary

Salary means a state employee's monthly salary or wages.

Salary shall have the meaning set forth in Section 3.1(a).

Salary means Executive’s annual base salary as in effect immediately before the termination of Executive’s employment or, if higher, the base salary in effect immediately before the first event or circumstance constituting Good Reason.

Salary means, without duplication of any amounts counted as Benefits, a predetermined regular payment, typically paid on a weekly or less frequent basis but which may be expressed as an hourly, weekly, annual or other rate, as well as cost-of-living differentials, vacation time, paid time off, sick leave, and overtime pay, paid by the Recipient to its Employees, but excluding any Federal, state, or local payroll taxes paid by the Recipient.

Salary has the meaning given to such term in Section 2.4(a) hereof.

Salary means the annual salary provided for in Section 3 below, as adjusted from time to time.

Salary means the basic compensation of an employee plus, with respect to an employee serving as chief of mission, officer temporarily in charge of the operations of an agency at a post, or in some other similar capacity, any additional compensation that he/she may be authorized to receive while serving in such capacity, but exclusive of all allowances, differentials or other additional compensation.