Minimum Base Salary definition

Minimum Base Salary means the Executive’s annual rate of salary on the Effective Date, payable monthly, increased by ten (10)% per annum compounded annually on each anniversary of the Executive’s most recent raise.
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Minimum Base Salary means salary at an annual rate equal to Executive’s annual rate of salary on the Termination Date.
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Minimum Base Salary means salary at an annual rate equal to Executive’s annual rate of salary on the Termination Date (or, if Executive terminates for Good Reason, within the meaning of Section 1.4(b), immediately prior to the material reduction thereof giving rise to Good Reason).
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Examples of Minimum Base Salary in a sentence

  • The minimum base salary and the salaries of all Employees will increase as follows: Year Effective Date Increase Amount Minimum Base Salary 2016 * 1.0%* $32,496* 2017 July 1, 2017 1.25% $34,000 2018 July 1, 2018 1.5% $34,600 2019 July 1, 2019 1.75% $34,900 *This wage increase will take effect as of the first day of the month that follows the date of ratification of this renewal Agreement (the "Effective Date"), and will be implemented within the first two pay periods that follow the date of ratification.

  • In the event that these cost-cutting measures are insufficient to cover the budget cut, staff will have theoption--by a majority, anonymous vote--to implement a Temporary Reduction, reducing the Minimum Base Salary by the minimum amount required to close the budget gap, as long the Temporary Reduction does not lower staff’s salary below 110% of the STA Unit A pay matrix.

  • Rostered Ministers’ Minimum Base Salary for 2021 will be determined by the Eastern Synod Council based on the recommendation of the Professional Leadership Committee.

  • A Solo Singer engaged on a per performance basis shall be guaranteed the equivalent of one (1) performance fee at Minimum Base Salary as provided in Article FIFTH (D) of this SECTION TWO for each week of availability during any New York subscription season which week is not released by The Met on or before October 15 immediately preceding said season.

  • A Principal who is employed as a Stage Director shall receive a minimum of not less than two (2) weeks’ Minimum Base Salary as provided in Paragraph B of this Article FIFTH for each opera to which he/she is assigned as Stage Director.

  • If staff vote not to reduce the Minimum Base Salary, the PHS Director will be in charge of implementing the reduction in force.

  • If Executive provides ninety (90) days notice and resigns with Good Reason, as defined herein, and complies in all respects with his obligations hereunder, or if the Company terminates Executive without Cause, then Executive shall be paid, within 30 days of his separation from the Company, a lump sum equal to his then-current Minimum Base Salary plus the Prior Bonus (as defined below).

  • If the Executive resigns with Good Reason that is a Disability and complies in all respects with his obligations hereunder, the Company will pay Executive, within 30 days of his separation from the Company, a lump sum equal to his then-current Minimum Base Salary plus the Prior Bonus.

  • If the Term of Employment is not extended or renewed on terms mutually acceptable to Executive and the Company, and if this Agreement has not been already terminated for reasons stated in Section 8 (a), (b), or (c) of this Agreement, Executive shall be paid, within 30 days of his separation from the Company, a lump sum equal to his then-current Minimum Base Salary plus the Prior Bonus.

  • The Minimum Base Salary may be increased from time to time at the discretion of the Board of Directors of the Company, any committee authorized by the Board or any officer having authority over executive compensation.


More Definitions of Minimum Base Salary

Minimum Base Salary means $262,080. Base Salary shall be payable according to the customary payroll practices of the Company, but in no event shall Base Salary be payable less frequently than once per calendar month. For the avoidance of doubt, $209,664 of the Executive’s annual Base Salary is being paid to the Executive to reflect the Executive’s previous target bonus under the EIP (the “Cash Subject to Clawback”). The Executive agrees that the Cash Subject to Clawback (i) shall be subject to any applicable forfeiture, clawback, recoupment or repayment policies, and/or other policies that may be implemented by the Company or any Affiliate from time to time to the extent applicable to the Executive, and (ii) shall be subject to any clawback, forfeiture, recoupment or similar provisions that may apply under applicable laws, rules or regulations.
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Related to Minimum Base Salary

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

  • 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.

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

  • Annual Salary means the salary given under this Part.

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

  • 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.

  • Salary as defined in Section 3.1(a).

  • 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.

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

  • 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.

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

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

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

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

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Monthly Salary Rate means the amount agreed to by the Owner that can be used on Applications for Payment throughout the Construction Phase to account for the services of Construction Manager’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by the Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Construction Manager’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by the Construction Manager for services performed for the Project.

  • 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.

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

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • 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).

  • 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.

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

  • Availability Incentive Payments has the meaning set forth in the CAISO Tariff.

  • 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.

  • 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)):

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.