Examples of Straight Time in a sentence
The Pension Allowance of such CECONY Participant shall be determined as if his or her Annual Basic Straight Time Compensation at the point of his or her actual termination of active employment was his or her Annual Compensation for all future years.
Notwithstanding anything to the contrary above, with respect to each Participant, the maximum benefit payable under this Article 3 shall be an amount equal to two (2) times such Participant's "annual compensation" as defined in Department of Labor Regulation Section 2510.3-2(b), which, for purposes of this Plan shall be no less than Straight Time Pay plus thirty percent (30%).
A position shall have a “similar base salary” if the Base Salary of the position (as determined by the Committee in its sole discretion) is at least 80% of the actual Straight Time Pay which the Employee is receiving in his current position.
Ten percent (10%) minus one percent (1%) for each year Company Service Credit is less than eight (8) years; the resulting percentage is multiplied by Average Straight Time Annual Earnings.
If a CEI Participant is covered by a collective bargaining agreement, his or her Annual Basic Straight Time Compensation means his or her hourly rate of pay at the end of each calendar quarter times 520 hours.