Total compensation package definition

Total compensation package shall be defined to include only the base salary then in effect, plus the annual cost of insurance benefits and an automobile allowance. The financial cost of other fringe benefits, including bonus, housing costs, vacations, holidays, sick leave and pension plans, shall not be included. As of the date of this Agreement, Employee's annual Total Compensation Package amounts to $184,089.
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Total compensation package for purposes of the Act means "payment by the employer to the employee
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Total compensation package for purposes of the Act means "payment by the employer to the employee for salary, health insurance, a housing allowance, a vehicle allowance, a clothing allowance, bonuses, loans, vacation days granted, and sick days granted." The Village of Morton Grove has elected to provide employee compensation information for all its employees regardless of salary level.
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Examples of Total compensation package in a sentence

  • For the purpose of determining the Change of ------------------------- Control Payment only (as provided for in Section 8 of Employee's Employment Agreement), "Total Compensation Package" shall be defined to include only the base salary then in effect, plus the annual cost of insurance benefits and an automobile allowance.

  • The bargaining unit members funded through restricted sources shall be afforded the same increases in the Total Compensation Package as that granted to their counterparts who are funded through Unrestricted General Fund.

  • In the event the Company shall pay to Executive during the Term any compensation in excess of the Total Compensation Package provided for herein, the payment of such increased compensation shall not be deemed to be an amendment to this Agreement, and may be discontinued at any time without cause.

  • During the Term of the Agreement, the Executive shall be ------------ compensated in accordance with the terms set forth in Addendum B of the Agreement which is incorporated as if fully set forth herein ("Total Compensation Package").

  • The Union shall be responsible for allocating the increase among the component parts of the Total Compensation Package and shall notify the Board of the specific allocation.

  • Executive's Total Compensation Package shall be reviewed on a periodic basis (most likely, yearly) and shall remain consistent with and commensurate to those other executives of the Company in similar roles, always taking into consideration the total responsibilities of Executive to the Company as well as the overall revenue and operating income contributions of Executive's designated marketplaces.

  • As of the date of this Agreement, Employee's annual Total Compensation Package amounts to $177,537.

  • Effective July 1, 2027 the Total Compensation Package shall increase by 3.00%, subject to the same allocation principles set forth above, except that the Union shall advise the Board of the allocation no fewer than thirty (30) days prior to July 1, 2027.

  • As of the date of this Agreement, Employee's annual Total Compensation Package amounts to $145,918.

  • The Company shall have the right to further adjust the Executive's Total Compensation Package to reflect the actual performance of the Executive.


More Definitions of Total compensation package

Total compensation package means payment by the employer to the employee for salary, health insurance, a housing allowance, a vehicle allowance, a clothing allowance, bonuses, loans, vacation days granted and sick days granted.6
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Total compensation package as mentioned in shall mean the hourly cost increase of Employers of other building trades, i.e. the hourly rate increase of the journeyman; vacation and holiday pay; health, welfare and pension; supplementary unemploy- ment benefit funds; and training and/or Union funds.
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Related to Total compensation package

  • 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)):

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Final compensation of a member means: