Week of Pay shall be determined based on the Eligible Employee’s status as a salaried or hourly Employee. If the Eligible Employee is a salaried Employee, Week of Pay shall be the Eligible Employee’s weekly Base Compensation. If the Eligible Employee is an hourly Employee, Week of Pay shall be the Eligible Employee’s hourly Base Compensation multiplied by his/her regularly scheduled number of hours worked per week in effect on the Eligible Employee’s Severance Date. If the Eligible Employee works part-time, his/her Week of Pay is determined on a prorated basis by calculating his/her average number of hours per week actually worked during the prior Year of Service.
Week of Pay means the amount determined by dividing a Participant’s annual Base Salary by 52.
Week of Pay means your base weekly rate of pay, excluding overtime, bonuses, commissions (except in the case of truck drivers employed by Dynegy Crude Gathering Services, Inc., whose base pay is comprised solely of commissions), premium pay, shift differentials, employee benefits, expense reimbursements, and similar amounts. However, the fact that amounts are withheld from your pay for taxes, employee benefits, or other reasons will be disregarded in calculating your Week of Pay amount. If you are paid by the hour, your base weekly rate of pay is your regular hourly rate multiplied by your scheduled hours per week. (e.g., forty (40) hours per week for full time Employees). Your base weekly rate of pay shall be determined by the Plan Administrator in its sole discretion.
Examples of Week of Pay in a sentence
If the Eligible Employee is a salaried Employee, Week of Pay shall be the Eligible Employee’s regular weekly base salary compensation rate in effect on his/her Severance Date.
If the Eligible Employee is an hourly Employee, Week of Pay shall be the Eligible Employee’s regular hourly base compensation rate multiplied by his/her regularly scheduled number of hours worked per week in effect on his/her Severance Date.
If the Eligible Employee works part-time, his/her Week of Pay is determined on a prorated basis by calculating his/her average number of hours per week actually worked during the prior Year of Service.
The Severance Benefit to be paid to an FDIC Participant will be equal to five (5) times the FDIC Participant’s Week of Pay.
In the regression analyses, the criterion vari- able was financial satisfaction while predictor variables were entered in four blocks: one block of demographic variables and three blocks of financial literacy components – knowledge, attitudes and behaviors.
More Definitions of Week of Pay
Week of Pay means Compensation divided by fifty-two (52). "Compensation" means, as of the date of the notice of termination, the Executive's annual base salary then in effect, plus the targeted cash incentive that the Executive would have been eligible to receive in the year in which the Termination Date occurs. "Years of Service" means the number of years of Service. A partial year will be rounded up to the next year. Payment of accrued vacation at termination does not extend the Executive Employee's Years of Service. Any lump sum payment hereunder is in addition to monies already owed the Executive by the Company and is in consideration for the covenants set forth in this Agreement and the Release hereunder. Any earned but unpaid portion of the Executive's base salary, at his then-effective annual rate, through the Termination Date plus any amounts due to the Executive under the accrued vacation program of the Company due to him through the Termination Date shall be paid to the Executive in the next payroll check regardless of whether the Executive delivers the Release.
Week of Pay shall be determined based on the Eligible Employee’s status as a salaried or hourly Employee. If the Eligible Employee is a salaried Employee, Week of Pay shall be the Eligible Employee’s weekly Base Compensation. If the Eligible Employee is an hourly Employee, Week of Pay shall be the Eligible Employee’s hourly Base Compensation multiplied by his/her regularly scheduled number of hours worked per week at the highest weekly level in effect during the thirteen (13) months prior to the Eligible Employee’s Severance Date. If the Eligible Employee works part-time, his/her Week of Pay is determined on a prorated basis by calculating his/her average number of hours per week actually worked during the prior Year of Service.
Week of Pay means the quotient of (i) the Eligible Employee’s annual base salary (as reflected in the Company’s records) as of the Date of Termination, divided by (ii) fifty-two (52).
Week of Pay means an Eligible Employee’s annualized Base Salary as of his or her Termination Date divided by 52. A Week of Pay excludes overtime, bonuses, performance awards, special additions, shift differentials, income from stock options, stock grants, dividend equivalents, benefits-in-kind, allowances, perquisites or other incentives, and any other forms of extra compensation. For commissioned sales positions, a Week of Pay determination will be adjusted to provide for an incentive target amount (determined at the sole discretion of the Plan Administrator).
Week of Pay means a Level 5 Participant’s weekly rate of Base Pay. However, the fact that amounts are withheld from a Level 5 Participant’s pay for taxes, employee benefits, or other reasons will be disregarded in calculating such Participant’s Week of Pay amount. If a Level 5 Participant is paid by the hour, the Participant’s weekly rate of Base Pay is the Participant’s regular hourly rate multiplied by the Participant’s scheduled hours per week (e.g., thirty (30) hours per week for Full-time Employees). A Level 5 Participant’s base weekly rate of pay shall be determined by the Plan Administrator in its sole discretion.
Week of Pay means your weekly rate, or your hourly base rate times 40 hours, at the time of your layoff. It does not include any overtime, bonuses, extended workweek, shift differential or other types of premium pay. If you work less than a fulltime schedule, you are eligible to receive a severance benefit based on your regular weekly pay (or hourly base rate times your regularly-scheduled number of hours) in effect at the time of your layoff. An employee who works less than 40 hours but is paid at a full-time rate (such as third shift employees) will be treated as full-time.
Week of Pay means the employee’s regular hourly rate of pay multiplied by his regularly scheduled hours per week; provided, however, that if the employee is working a regular rotational schedule immediately prior to his termination of employment, then “Week of Pay” shall mean the sum of such employee’s regular hourly rate of pay multiplied by his regularly scheduled straight-time hours per week plus his regular overtime rate of pay multiplied by his regularly scheduled overtime hours per week. An hourly Continuing Spinco Employee’s Week of Pay shall be the greatest of the amounts determined to be in effect (1) immediately prior to the Effective Time, (2) 60 days prior to the date of such employee’s termination of employment, or (3) the date of such employee’s termination of employment.