Final Pay means the Executive’s highest annualized Base Salary for the five (5) years prior to Separation from Service or Change in Control, including the year such Separation from Service or Change in Control occurs.
Final Pay means any unpaid base salary with respect to the period prior to the effective date of Employee’s termination of employment.
Final Pay means the sum of (1) the Eligible Employee’s annual salary for the year in which employment terminates, regardless of whether all such salary has been paid at the time of termination of employment and (2) the greater of (A) the Eligible Employee’s targeted cash bonus for the year in which employment terminates or (B) the actual cash bonus earned by the Eligible Employee for the year immediately prior to the year in which employment terminates.
Examples of Final Pay in a sentence
As to all acts or failures to act by either party to this Contract, any applicable statute of limitations shall commence on the date of issuance by County of the Proposed Final Pay Estimate, or the effective date of a termination of all of this Contract, whichever is earlier, except for latent defects, in which case the provisions of Code of Civil Procedure section 337.15 shall apply.
Final Payment shall be made not later than 60 days after Owner approves the Final Pay Request.
When Construction Manager believes that the Work is ready for Final Inspection and acceptance, Construction Manager will prepare the Final Pay Application and send it to Owner and/or Owner’s Architect-Engineer along with Construction Manager's statement that, in its opinion, the Work is complete.
Note: As stated in Sections 4.08 and 4.09, the Plan may, however, provide that Final Pay Contributions or Accrued Leave Contributions are the only contributions made under the Plan.
Final Pay Check The Company will pay employees any previously earned, but unused, vacation days, previously earned wellness days and final pay for hours worked in the employee’s final paycheck.
More Definitions of Final Pay
Final Pay means the sum of (1) the greater of (A) the Eligible Employee’s annual base salary in effect immediately prior to the Change in Control, or (B) the Eligible Employee’s annual base salary in effect at the time employment terminates, and (2) the greater of (A) the Eligible Employee’s targeted cash bonus for the year immediately prior to the year in which the Change in Control occurs, (B) the Eligible Employee’s targeted cash bonus for the year in which employment terminates or (C) the actual cash bonus earned by the Eligible Employee for the year immediately prior to the year in which employment terminates.
Final Pay means the total annual base salary payable to the Executive at the rate in effect at Termination of Employment. Final Pay shall not be reduced for any salary reduction contributions to: (i) cash or deferred arrangements under Section 401(k) of the Code; (ii) a cafeteria plan under Section 125 of the Code; or (iii) a deferred compensation plan that is not qualified under Section 401(a) of the Code.
Final Pay means any unpaid base salary with respect to the period prior to the effective date of Employee’s termination of employment together with payment of any vacation that Employee has accrued but not used through the date of Employee’s termination of employment.
Final Pay means the average of the Base Salary paid to the Executive by the Company for the last three (3) full calendar years prior to Normal Retirement Age.
Final Pay as used herein means one-third of the aggregate of Executive’s total cash compensation (i.e., Base Salary plus incentive compensation and any other bonus payments) for those three full fiscal years out of the last five full fiscal years of the Term of Employment with respect to which three fiscal years Executive received the highest total cash compensation. The Annual Contract Pension payable to Executive for each “Retirement Year” (as hereinafter defined) shall be an amount determined by (I) adjusting Executive’s Final Pay for changes in the Consumer Price Index in the manner set forth in §3(a) except that for purposes of the adjustment under this §6, the base month, instead of being June 2003, shall be the month preceding the month in which payment of the Annual Contract Pension commences and the comparison month shall be the same month in each succeeding year and (II) multiplying the Final Pay as so adjusted by 60% and subtracting therefrom the amount which, as of the last day of the Term of Employment (i.e., the effective date of termination of the Term of Employment under any of the provisions of §§ 1, 2 or 4 hereof), is the maximum annual benefit payable, in accordance with §415(b)(1)(A) of the Internal Revenue Code (or successor section), as adjusted by the Secretary of the Treasury to such last day under § 415(d) of the Code (or successor section), under a pension plan which qualifies under § 401(a) of the Code (or successor section). Such maximum annual benefit is hereinafter called the “Maximum Qualified Plan Pension”. Each 12-month period beginning on the first day of the month in which the Annual Contract Pension first becomes payable hereunder and on the first day of the same month during each of the succeeding years in which the Annual Contract Pension is payable hereunder is herein called a “Retirement Year.” There shall be no adjustment of the Final Pay based on the Consumer Price Index for the purpose of determining the Annual Contract Pension for the first Retirement Year so that during such first Retirement Year the Annual Contract Pension shall be 60% of Final Pay minus the Maximum Qualified Plan Pension; there shall be such adjustment of Final Pay for the purpose of determining the Annual Contract Pension for the second and each succeeding Retirement Year.
Final Pay. The term “Final Pay” shall mean the highest Base Pay received by the FPDR Two or FPDR Three Member for any of the three consecutive 365-day or, in a leap year, 366- day periods where the most recent day is the last day for which pay was received in the calendar month preceding the calendar month in which the Member retires, dies, or otherwise terminates employment with the Bureau of Fire or Police. Final Pay for any such period does not include any retroactive payments received by the Member for days preceding such 365- day or 366-day period but does include adjustments to the Base Pay of the Member’s position in the Bureau of Fire or Police that would have been received had the Member’s applicable collective bargaining agreement been in effect during such 365-day or 366-day period.