Salary and Bonus definition

Salary and Bonus for purposes of this Agreement shall mean the sum of
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Salary and Bonus subject to the Policy means the sum of (i) the greater of a Senior Executive Officer’s base annual salary in effect (a) on the date of the termination of employment of the Senior Executive Officer or (b) for the fiscal year immediately preceding the fiscal year in which such employment termination occurs plus (ii) the greater of the Senior Executive Officer’s (x) targeted annual bonus for the year in which the Senior Executive Officer’s employment terminates or (y) the annual bonus paid or payable to the Senior Executive Officer for the fiscal year immediately preceding the fiscal year in which such employment termination occurs.
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Salary and Bonus. While you are employed on a full-time basis by the Company, the Company will pay you a base salary which annualizes to $250,000, payable in accordance with the usual payroll practices of the Company including the withholding of all income and employment taxes. Your base salary will be reviewed on an annual basis and may be subject to adjustment upward based on various factors including, without limitation, your performance or the Company's achievement of its business plan (as determined by the Board of Directors of the Company), provided that in no event shall such annual increase be less than the annual rate of increase in the Consumer Price Index. When the Company completes an Initial Public Offering (IPO) your annualized salary will be increased to $275,000. You will be eligible for a 40% target bonus based upon achievement of assigned performance goals and subject to the approval of the Board of Directors. Relocation: Per the attached.
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Examples of Salary and Bonus in a sentence

  • Where applicable, the grant applicant agrees to comply with the Salary and Bonus Limitations.

  • Where applicable, the Contractor agrees to comply with the Salary and Bonus Limitations.

  • Contractors shall follow the instructions for implementing the salary and bonus limitations as provided in TEGL 05-06, “Implementing the Salary and Bonus Limitations in Public Law 109-234.” This limit shall not apply to vendors providing goods and services as defined in OMB Circular A-133.

  • Salary and Bonus LimitationsNone of the grant funds may be used by a recipient or subrecipient of such funds to pay the salary and bonuses of an individual, either as direct costs or indirect costs, at a rate in excess of Executive Level II.

  • In the event Mr. Smith’s employment is terminated for cause or Mr. Smith voluntarily leaves the employ of the Company for no reason, Mr. Smith shall be entitled to accrued but unpaid Base Salary and Bonus up to the date of termination, and all other unpaid amounts.

  • Training and Employment Guidance Letter (TEGL) No. 05-06, Implementing the Salary and Bonus Limitations in Public Law 109-234, August 15, 2006.

  • Contractors shall follow the instructions for implementing the salary and bonus limitations as provided in the DOL Training and Guidance Letter (TEGL) 05-06, “Implementing the Salary and Bonus Limitations in Public Law 109-234.” This limit shall not apply to vendors providing goods and services as defined in the Office of Management and Budget Circular A-133.

  • Deferrals shall be credited throughout each Deferral Year as the Participant is paid the non-deferred portion of Salary and Bonus for such Deferral Year.

  • Salary and Bonus Limitations Under Public Law 109–234 andPublic Law 111–8, Section 111, none of the funds appropriated in Public Law 111–5 or prior Acts under the heading ‘‘Employment and Training’’ that are available for expenditure on or after June 15, 2006, shall be used by a recipient or sub-recipient of such funds to pay the salary and bonuses of an individual, either as direct costs or indirect costs, at a rate in excess of Executive Level II.

  • Salary, Compensation, and Bonus Limitations Each Party certifies that, when operating grants funded by the U.S. Department of Labor, it complies with TEGL 05-06, Implementing the Salary and Bonus Limitations in Public Law 109-234, restricting the use of Federal grant funds for compensation and bonuses of an individual, whether charged to either direct or indirect, at a rate in excess of the Federal Office of Personnel Management Executive Level II.


More Definitions of Salary and Bonus

Salary and Bonus means (A) the Executive’s monthly salary at the rate in effect immediately before the Termination Date, plus (B) the amount of the annual Bonus (as defined below) paid or granted to the Executive for the prior fiscal year (or, if no Bonus has been paid or granted for the prior fiscal year, the Bonus paid or granted for the most recent fiscal year for which a Bonus was paid or granted) divided by twelve (12). The “Severance Period” is twelve (12) months; provided, however, that if any portion of the Notice Period is worked by the Executive or payment in lieu of a portion or all of the Notice Period is provided, the Executive will receive twelve (12) months of Salary and Bonus, reduced by any amount of salary paid to the Executive with respect to the Notice Period (i.e. the total amount provided to the Executive following the beginning of the Notice Period will be equal to twelve (12) months of Salary and Bonus). For purposes of this Agreement, the term “Bonus” means the full annual incentive amount, expressed as a dollar amount, that is awarded to the Executive for the applicable year based on performance, which may be payable in a combination of cash and equity grants.
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Related to Salary and Bonus

  • 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.

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

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

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

  • Annual Salary means the salary given under this Part.

  • Basic Compensation means Salary and Benefits.

  • Salary as defined in Section 3.1(a).

  • 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.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year (excluding any special bonuses awarded for performance after the conclusion of the performance period), if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • 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.

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

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

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

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

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

  • 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.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • 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.

  • 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.