Weekly Base Compensation definition

Weekly Base Compensation means an Employee’s gross weekly base wages, before any withholding or deductions, at the time of termination. If the Employee normally works less than his or her Employer’s standard full-time workweek, then Weekly Base Compensation means the Employee’s gross base wages, before any withholding or deductions, for his or her normally scheduled weekly number of hours, as determined by the Employer. Weekly Base Compensation does not include bonuses, overtime pay, incentives, allowances, commissions, equity compensation, and any other extraordinary remuneration.
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Weekly Base Compensation means the Eligible Employee’s Base Compensation divided by 52.
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Weekly Base Compensation means the Eligible Employee’s hourly base rate of compensation (including shift premium and shift differential, if any) in effect as of his or her Severance Date times the lesser of (i) forty (40) or (ii) the number of hours the Eligible Employee was regularly scheduled to work immediately prior to his or her Severance Date. For Employees with a monthly base rate, the hourly base rate is determined by dividing the monthly base rate by 173.33. By way of illustration and not limitation, Weekly Base Compensation shall not include overtime earnings, bonuses or other supplemental compensation.
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Examples of Weekly Base Compensation in a sentence

  • In order to enable the Administrator to perform his or her functions under the Plan, the Company shall supply full and timely information to the Administrator on all matters relating to the Weekly Base Compensation of Eligible Employees, their employment, retirement, death, or the cause for termination of employment and such other pertinent facts as may be required.

  • Except as set forth below, the Separation Benefit shall be an amount equal to the number of weeks of the Eligible Employee’s Weekly Base Compensation determined according to the following schedule: If after calculating an Eligible Employee’s Separation Benefit the above schedule results in a partial week of a Separation Benefit, such partial week shall be rounded up to a whole week.

  • You will receive severance pay in an amount equal to the greater of (i) three (3) weeks of your Weekly Base Compensation per Year of Service, or (ii) fifty-two (52) weeks of your Weekly Base Compensation, subject to the maximum payment limit described below.

  • Except as set forth below, the Additional Benefit shall be an amount equal to the number of weeks of the Eligible Employee’s Weekly Base Compensation determined according to the following schedule: Notwithstanding the foregoing, an Eligible Executive Employee (as defined in Appendix C) shall not receive an Additional Benefit.

  • In order to enable the Administrator to perform its functions under the Plan, each Employer shall supply full and timely information to the Administrator on all matters relating to the Weekly Base Compensation of Eligible Employees, their employment, retirement, death, or the cause for termination of employment and such other pertinent facts as may be required.

  • Notwithstanding the foregoing, the minimum Separation Benefit to be provided pursuant to this subsection (a) to an Eligible Employee who is employed at the Expert/Strategic career band classification level and above shall in no event be less than an amount equal to 18 weeks of the Eligible Employee’s Weekly Base Compensation.

  • Except as otherwise provided, the Basic Benefit shall be an amount equal to the number of weeks of the Eligible Employee’s Weekly Base Compensation determined according to the following schedule: Effective for layoffs announced after March 1, 1998, if after calculating an Eligible Employee’s Basic Benefit, the above schedule results in a Basic Benefit that includes a unit of 1/2 Weekly Base Compensation, such unit shall be rounded up to 3/5 of Weekly Base Compensation.

  • An Eligible Employee who qualifies as a Participant under Section 3 shall be entitled to a lump-sum cash Severance Benefit in an amount equal to three weeks of the Participant’s Weekly Base Compensation multiplied by the number of full years of Service credited to the Participant, provided that such cash Severance Benefit shall not be less than 12 weeks of Weekly Base Compensation nor more than 52 weeks of Weekly Base Compensation.

  • For example, if you are entitled to fifty-two (52) weeks of Weekly Base Compensation, you will be paid this benefit in substantially equal installments over a fifty-two (52) week period.

  • In order to enable the Administrator to perform its functions under the Plan, each Employer shall supply full and timely information to the Administrator on all matters relating to the Weekly Base Compensation of Eligible Employees, their employment, retirement, death, or the cause for termination of employment, or the occurrence of a Change in Control and such other pertinent facts as may be required.


More Definitions of Weekly Base Compensation

Weekly Base Compensation means the Eligible Employee’s hourly base rate of compensation (including shift premium and shift differential, if any) in effect as of his or her Severance Date times the lesser of (i) forty (40) or (ii) the number of hours the
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Weekly Base Compensation means the Eligible Employee’s Base Compensation
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Weekly Base Compensation means the greater of (A) the annual base compensation or salary being paid by an Employer to the Employee in effect immediately prior to the date of the Change of Control and (B) the annual base compensation or salary being paid by an Employer to the Employee in effect immediately prior to the effective date of the Employee’s termination, in each case, determined prior to reduction for any employee-elected salary reduction contributions made to an Employer-sponsored non-qualified deferred compensation plan or an Employer-sponsored plan pursuant to Section 401(k) or 125 of the Internal Revenue Code, and excluding bonuses, overtime, allowances, commissions, deferred compensation payments and any other extraordinary remuneration, multiplied by a fraction, the numerator of which shall equal 1 and the denominator of which shall equal 52.
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Related to Weekly Base Compensation

  • 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.

  • 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 Salary means the salary given under this Part.

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

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Annual Compensation means an amount equal to the greater of:

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Eligible Compensation means, with respect to each Participant for each pay period, the full salary and wages paid to such Participant by the Company or a Participating Subsidiary, including commissions, bonuses (to the extent not excluded below), overtime pay and shift differentials. Except as otherwise determined by the Committee, “Eligible Compensation” does not include

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

  • 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.

  • Current Annual Compensation means the greater of:

  • Earnable compensation means the full rate of the

  • Salary as defined in Section 3.1(a).

  • 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.

  • Final compensation of a member means:

  • 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)):

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

  • Basic Compensation means Salary and Benefits.

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Final Salary means the average annual salary for service for which

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.