Two Times Base Annual Salary definition

Two Times Base Annual Salary means the current base annual salary of the Executive at the earliest of: (1) the date of the Executive's death; (2) the date of the Executive's Disability; or (3) the Executive's Normal Retirement Date multiplied by a factor of two (2).
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Two Times Base Annual Salary means the current base annual salary of the Participant at the earliest of (i) the date of the Participant’s death, (ii) the date of the Participant’s Disability, or (iii) the Participant’s date of termination of employment, multiplied by a factor of two (2).
Sample 1
Two Times Base Annual Salary means the annual base salary of the Participant at the earliest of: (1) the date of the Participant’s death, (2) the date of the Participant’s Disability, or (3) the Participant’s Normal Retirement Date, multiplied by a factor of two.
Sample 1

Examples of Two Times Base Annual Salary in a sentence

  • The Executive shall have the right to designate the beneficiary of Two Times Base Annual Salary.

  • With respect to each Policy, the Company shall be the direct beneficiary of an amount of death proceeds equal to the greatest of: (1) the cash surrender value of the policy; (2) the aggregate premiums paid on the Policy by the Company less any outstanding indebtedness to the Insurer; or (3) the amount in excess of Two Times Base Annual Salary of the Insured/Participant.

  • The beneficiary designated by the Insured, or his/her transferee shall be the beneficiary (based on the attached vesting schedule) of the lesser of: (i) Two Times Base Annual Salary of the Insured/Participant or (ii) $ .

  • With respect to each Policy, the Participant, or the Participant’s assignee, shall have the right to designate the beneficiary of an amount of death proceeds equal to: (i) Two Times Base Annual Salary of the Insured/Participant; or (ii) the maximum dollar amount of the Participant’s Interest set forth in the Participant’s individual split dollar endorsement and based upon the vesting schedule attached (to) their individual Split Dollar Endorsement.

  • Two Times Base Annual Salary in effect at the effective date of his or her termination of employment with the Company, less $50,000 (from the Company’s existing group term plan), capped at a maximum of $470,000 (Four Hundred Seventy Thousand Dollars).

  • With respect to the Policy(ies), the Participant shall have the right to designate the beneficiary of an amount of death proceeds equal to the lesser of: (i) Two Times Base Annual Salary of the Participant or (ii) the maximum dollar amount of the Participant’s Interest set forth in the Participant’s individual Split Dollar Policy Endorsement and based upon the vesting schedule attached to his or her individual Split Dollar Policy Endorsement.

  • If the Executive was employed by the Bank on the date of death, the death benefit shall be Two Times Base Annual Salary in effect at his date of death.

  • Firstly, amendment (R2) willamend paragraph 77(1)(f) to allow for a new option to be provided for people to repay and to make it compulsory for Centrelink to con- vey that information by letter.

  • Subject first to the Company's interest in the death proceeds under a Policy the death benefit to be provided by the Plan shall be up to Two Times Base Annual Salary of a Participant but not in excess of the amount set forth in Exhibit C.

  • With respect to each Policy, the Participant, or the Participant’s assignee, shall have the right to designate the beneficiary of an amount of death proceeds equal to the lesser of (i) Two Times Base Annual Salary of the Participant, or (ii) the dollar amount of the Participant’s Interest set forth in the Participant’s individual Split Dollar Endorsement.


More Definitions of Two Times Base Annual Salary

Two Times Base Annual Salary means the current base annual salary of the Participant at the earliest of: (1) the date of the Participant's death; (2) the date of the Participant's Disability; or (3) the Participant's Normal Retirement Date, multiplied by a factor of two (2) but not in excess of the maximum benefit amount specified Exhibit B.
Sample 1
Two Times Base Annual Salary means the annual base salary of the Participant in effect at date of death multiplied by a factor of two (2), but not in excess of the amount stated in Exhibit C. The Split Dollar Policy Endorsement signed by the Participant and the Company shall state this amount in U.S. currency.
Sample 1

Related to Two Times Base Annual Salary

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Average Annual Compensation shall include all taxable income paid by the Bank or Holding Company, including but not limited to, Base Salary, commissions, and bonuses, as well as contributions on Executive's behalf to any pension and/or profit sharing plan, severance payments, retirement payments, directors or committee fees and fringe benefits paid or to be paid to the Executive in any such year and payment of any expense items without accountability or business purpose or that do not meet the Internal Revenue Service requirements for deductibility by the Bank. At the election of the Executive, which election is to be made prior to a Change in Control, such payment shall be made in a lump sum. In the event that no election is made, payment to the Executive will be made on a monthly basis in approximately equal installments during the remaining term of the Agreement. Such payments shall not be reduced in the event Executive obtains other employment following termination of employment.

  • Average Annual Bonus means the average of the annual bonuses from the Company earned by the Executive with respect to the three (3) fiscal years of the Company immediately preceding the Date of Termination (the “Bonus Fiscal Years”); provided, however, that, if the Executive was employed by the Company during all or any portion of one or two of the Bonus Fiscal Years (but not three of the Bonus Fiscal Years), “Average Annual Bonus” means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Average annual payroll means the average of the annual

  • Annual Salary means the salary given under this Part.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Current Annual Compensation means the total of your Basic Salary in effect at the Termination Date, plus the average annual performance bonus actually received by you over the last three years fiscal years (or if you have been employed for a shorter period of time over such period during which you performed services for the Company), and shall not include the value of any stock options granted or exercised, restricted stock awards granted or vested, contributions to 401(k) or other qualified plans, medical, dental, or other insurance benefits, or other fringe benefits.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Semi-Annual Period means each of: the period beginning on and including January 1 and ending on and including June 30; and the period beginning on and including July 1 and ending on and including December 31.

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Pro Rata Annual Bonus means (a) the product of the amount of the Target Annual Bonus to which Executive would have been entitled if he had been employed by the Company on the last day of the year that includes the Termination Date and if Executive had achieved Executive’s Target Performance Goals for such year, multiplied by (b) a fraction of which the numerator is the numbers of days which have elapsed in such year through the Termination Date and the denominator is 365.

  • Target Annual Bonus as of a certain date means the amount equal to the product of Base Salary determined as of such date multiplied by the percentage of such Base Salary to which Executive would have been entitled immediately prior to such date under any Bonus Plan for the Annual Performance Period for which the Annual Bonus is awarded if the performance goals established pursuant to such Bonus Plan were achieved at the 100% level as of the end of the Annual Performance Period.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Highest Annual Bonus means an amount equal to the highest bonus or bonuses paid or payable to the Executive in any of the five most recently completed fiscal years prior to the Change in Control (or such shorter period that the Executive has been employed).

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Effective date of enrollment means the first date when an en- rollee is entitled to receive covered benefits.

  • Semi-Annual Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions--Semi-Annual Distributions" in the Prospectus Part I for a Trust.

  • Annualized means (i) with respect to the end of the first Fiscal Quarter of the Borrower ending after the Closing Date, the applicable amount for such Fiscal Quarter multiplied by four, (ii) with respect to the second Fiscal Quarter of the Borrower ending after the Closing Date, the applicable amount for such Fiscal Quarter and the immediately preceding Fiscal Quarter multiplied by two, and (iii) with respect to the third Fiscal Quarter of the Borrower ending after the Closing Date, the applicable amount for such Fiscal Quarter and the immediately preceding two Fiscal Quarters multiplied by one and one-third.

  • Monthly salary means the W-2 reportable compensation received by a member during the month.

  • Final Salary or “FS” means the annual review date salary applicable immediately prior to the occurrence of the relevant event unless the event occurs less than 1 year before the member’s 55th birthday in which case the final salary shall be taken to be FAS but limited to the period from the date the member attained age 54 (or later commencement of membership if applicable) to the occurrence of the relevant event.

  • Basic Salary means the salary, as specified in Clause 6.1.1 or, as appropriate, the reviewed annual salary from time to time;