Current Compensation Package Sample Clauses

Current Compensation Package. The term “Current Compensation Package” for purposes of § 3.1(c)(1) of this Agreement shall mean the sum of the amounts described in § 1.7(a) and in § 1.7(b) and, if applicable, in § 1.7(c) as follows:
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Current Compensation Package. The term "Current Compensation ---------------------------- Package" for purposes of (S) 3(a)(2)(A) of this Agreement shall mean the sum of the following: (a) Executive's highest annual base salary from SunTrust and any SunTrust Affiliate which (but for any salary deferral election) is in effect at any time during the 1 year period which ends on the date Executive's employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in (S) 3(a) or (S) 3(f); (b) The greater of (i) Executive's target annual MIP bonus for the calendar year in which Executive's employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in (S) 3(a) or (S) 3(f) or (ii) the greater of (A) the average of the annual MIP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election) for the 3 full calendar years in which Executive has participated in the MIP (or, if less, the number of full calendar years in which Executive has participated in the MIP) which immediately precedes the calendar year in which Executive's employment so terminates or, if Executive was not eligible to participate in the MIP in the calendar year which immediately precedes the calendar year in which Executive's employment so terminates, (B) the greater of (1) the average MIP bonus described in (S)1.8(b)(ii)(A) or (2) the last MIP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election); and (i) The average of the PUP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election) for the 3 full performance cycles in which Executive has participated in the PUP (or, if less, for the number of full performance cycles in which Executive has participated in the PUP) which immediately precede the performance cycle which ends in the calendar year in which Executive's employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in (S) 3(a) or (S) 3(f) or, if Executive was not eligible to participate in the PUP for the performance cycle which ends in the calendar year in which Executive's employment so terminates or if there is no such cycle, (ii) the average PUP bonus described in (S)1.8(c)(i) or the last PUP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral el...
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Current Compensation Package. The term "Current Compensation Package" ---------------------------- for purposes of this Agreement shall mean: (a) Executive's annual salary from Weeks and any Weeks Affiliate (including any deferrals of such annual salary) as in effect on the date his employment with Weeks or a Weeks Affiliate terminates or on any date in the twenty-four (24) month period ending on such date, whichever is greater; and (b) the (i) highest average total annual cash bonus paid to Executive by Weeks and any Weeks Affiliate in any three (3) calendar years (A) in the five (5) calendar year period which includes the date his employment with Weeks or a Weeks Affiliate terminates or, if no bonus has been paid before his employment terminates in such calendar year, (B) in the five (5) calendar year period immediately preceding the calendar year in which his employment with Weeks or a Weeks Affiliate terminates or (ii) the average total annual cash bonus that Executive has been paid each calendar year by Weeks and any Weeks Affiliate if Executive has been paid bonuses in less than three (3) calendar years; and (c) the monthly family coverage premium Weeks charges for health care continuation coverage under Section 602 of the Employee Retirement Income Security Act of 1974, as amended, as of the date Executive's employment with Weeks or a Weeks Affiliate terminates multiplied by twelve (12).
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Current Compensation Package. The term "Current Compensation Package" for purposes of ss. 3(a)(2)(A) of this Agreement shall mean the sum of the amount described in ss. 1.8(a), in ss. 1.8(b) and, if applicable, in ss. 1.8
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Current Compensation Package. The term "Current Compensation Package" for purposes of this Agreement shall mean Executive's annual salary from Springs and Executive's annual bonus target amount under Springs' 1999 Achievement Incentive Plan or any successor plan (including any deferrals of such annual salary and bonus) as in effect on the date his employment with Springs terminates or on any date in the twenty-four (24) month period ending on such date, whichever is greater.
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Related to Current Compensation Package

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Contingent Compensation ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ may accept certain forms of contingent compensation in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ accepts contingent payments or not. If a ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s business from their contingent payment calculations. The Foreign Account Tax Compliance Act (FATCA) is a U.S. law aimed at foreign financial institutions and other financial intermediaries (including insurance companies and intermediaries such as brokers) to prevent tax evasion by U.S. citizens and residents through offshore accounts. In order to comply with FATCA, insurance companies and intermediaries must meet certain legal requirements. Insurance placed with an insurance company that is not FATCA compliant may result in a 30% withholding tax on your premium. Where FATCA is applicable to you, in order to avoid this withholding tax, ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ will only place your insurance with FATCA- compliant insurers and intermediaries for which no withholding is required unless you instruct us to do otherwise and provide your advance written authorization to do so. If you do instruct ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ to place your insurance with a non-FATCA compliant insurer or intermediary, you may have to pay an additional amount equivalent to 30% of the premium covering U.S. - sourced risks to cover the withholding tax. If you instruct us to place your insurance with a non-FATCA compliant insurer but you do not agree to pay the additional 30% withholding if required, we will not place your insurance with such insurer. Please consult your tax adviser for full details of FATCA.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.