Benefit Category definition

Benefit Category means one of the following benefit categories: (1) the Gold Benefit Category, (2) the Silver Benefit Category or (3) the Bronze Benefit Category. For purposes of this Plan, the Gold Benefit Category shall include the Chief Executive Officer and President of the Employer; the Silver Benefit Category shall include the Chief Financial Officer of the Employer and any other officer of the Employer or any Affiliate whose position is designated by the Employer through its Board of Directors as an executive officer and included within the Silver Benefit Category; and the Bronze Benefit Category shall include the Vice Presidents Classified Jobs of the Employer or any Affiliate. Notwithstanding the foregoing, the Chief Executive Officer, President and Chief Financial Officer of any Affiliate shall be included in the Silver Benefit Category provided the position was included in the Silver Benefit Category prior to May 8, 2008 and Director Band Jobs of the Employer or any Affiliate shall be included in the Bronze Benefit Category provided the position was in the Blue Zone Band and included in the Bronze Benefit Category prior to May 8, 2008, provided in either case only with respect to an Employee who received prior to May 8, 2008 a notice of eligibility to participate in the Plan. If the Employer designates additional Qualifying Positions, then the Employer also shall specify into which Benefit Category that Qualifying Position will be included. The Employee’s Benefit Category shall be determined based on the Employee’s Qualifying Position at the time of the Change in Control of the Employer, and any Employee in more than one Qualifying Position shall be deemed for purposes of this Plan to be in only the Qualifying Position that would entitle such Employee to the greatest benefits under this Plan.
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Benefit Category means either Category 1 or Category 2.
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Examples of Benefit Category in a sentence

  • Accelerated Vesting and Compensation Continuation Plan shall be treated for purposes of this Section 3 as if he or she were in the Silver Benefit Category solely for purposes of the accelerated vesting of stock options.

  • Exhibit C attached hereto shall show the names of each employee who is included in the foregoing position and who is entitled to the treatment described in this Section 3(b)(iv) if they become an Employee under this Plan.(v) Exhibit B attached hereto provides a summary of the accelerated vesting to which an Employee will be entitled based on the Benefit Category for which such Employee qualifies.

  • The Committee, in its sole discretion, will designate the Benefit Category of each Participant in the Plan.

  • Exhibit C attached hereto shall show the names of each employee who is included in the foregoing position and who is entitled to the treatment described in this Section 3(a)(iv) if they become an Employee under this Plan.(v) Exhibit B attached hereto provides a summary of the accelerated vesting to which an Employee will be entitled based on the Benefit Category for which such Employee qualifies.

  • Accelerated Vesting and Compensation Continuation Plan shall be treated for purposes of this Section 3 as if he or she were in the Silver Benefit Category solely for purposes of the accelerated vesting of restricted stock units.

  • Notwithstanding any other provision of this Plan, this Section 3 only impacts the exercisability and vesting of the applicable stock option; it is not intended to nor does it extend the terms or expiration dates of the applicable stock options.(iv) Notwithstanding any of the foregoing, for purposes of this Section 3 only, an Employee in the Bronze Benefit Category who previously participated in the EarthLink, Inc.

  • Exhibit A attached hereto shall set forth the name of each Participant and the Participant’s Benefit Category as determined by the Committee, and such Exhibit shall be amended from time to time as is necessary to reflect each Participant in the Plan and the Participant’s Benefit Category.

  • Notwithstanding any of the foregoing, for purposes of this Section 3 only, an Employee in the Bronze Benefit Category who previously participated in the EarthLink, Inc.

  • Exhibit B attached hereto provides a summary of the accelerated vesting to which an Employee will be entitled based on the Benefit Category for which such Employee qualifies.

  • Exhibit B attached hereto provides a summary of the benefits to which an Employee will be entitled based on the Benefit Category for which such Employee qualifies.

Related to Benefit Category

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Base Earnings means base salary and wages payable by the Company or a Participating Subsidiary to an Eligible Employee, prior to pre-tax deductions for contributions to qualified or non-qualified (under the Code) benefit plans or arrangements, and excluding bonuses, incentives and overtime pay but including commissions.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.

  • Base Pay means Executive’s annual base salary rate as in effect from time to time.

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Final Average Earnings means the earnings used to determine benefits under this Plan as further described in Article 7.

  • 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.

  • Core Earnings means, with respect to any Person for any period, net income determined in accordance with GAAP of such Person and its consolidated subsidiaries and excluding (but only to the extent included in determining net income for such period) (i) non-cash equity compensation expense, (ii) the expenses incurred in connection with the formation of the Sponsor and the offering in connection therewith, including the initial underwriting discounts and commissions, (iii) acquisition costs from successful acquisitions (other than acquisitions made in the ordinary course of business), (iv) real property depreciation and amortization, (v) any unrealized gains or losses or other similar non-cash items that are included in net income for the current quarter, regardless of whether such items are included in other comprehensive income or loss, (vi) extraordinary or non-recurring gains or losses and (vii) one-time expenses, charges or gains relating to changes in GAAP; provided that Core Earnings shall, solely with respect to the Core Earnings attributable to any Non Wholly-Owned Consolidated Affiliate, only include the Consolidated Group Pro Rata Share of such attributable amount.

  • 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.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Earnable compensation means the full rate of the

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Final compensation of a member means:

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.