Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.
Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination and which was either (i) included in the Executive's gross income for tax purposes, including but not limited to Base Salary, bonuses and amounts taxable to the Executive under any qualified or non-qualified employee benefit plans of the Employers, or (ii) deferred at the election of the Executive.
Average Annual Compensation. The average of a Participant’s annual Compensation as defined in paragraph 1.16 of this Basic Plan Document #01, over the three (3) consecutive Plan Year period ending in either the current year or any prior year that produces the highest average. If the Participant has fewer than three (3) years of participation in this Plan, Compensation is averaged over the Participant’s total period of participation.
Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average Base Salary, cash bonuses and amounts allocated to the Executive under any qualified employee benefit plans of the Employers for the preceding three years.
Average Annual Compensation. Average Annual Compensation is the average of a Participant's annual Compensation as defined in Section VI of the Plan, over the three-consecutive Plan Year period ending in either the current year or any prior year that produces the highest average. If the Participant has less than three years of participation in this Plan, Compensation is averaged over the Participant's total period of participation.
Average Annual Compensation. Compensation as defined in paragraph 1.17, as elected in Section II(A) of either the Standardized and Nonstandardized Target Benefit Adoption Agreement. If the Participant has fewer than three (3) years of participation in the Plan, Compensation is averaged over the Participant’s total period of participation.
Average Annual Compensation. The Officer’s “Average Annual Compensation” for purposes of this Agreement shall be deemed to mean the average amount of Base Salary and cash bonus paid to the Officer by the Employer or any subsidiary thereof during the most recent five calendar years preceding the year in which the Date of Termination occurs (or such shorter period as the Officer was employed).
Average Annual Compensation. The Executive’s “Average Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the average level of the following compensation provided to the Executive by the Employer or any subsidiary thereof during the most recent three calendar years preceding the year in which the Date of Termination occurs: (i) the Base Salary earned by the Executive during such period, (ii) the cash bonuses, if any, earned by the Executive during such period, and (iii) the value of any income earned by the Executive during such period from the vesting of restricted stock awards.
Average Annual Compensation. As used in Sections 10.1 and 10.2, the term "Average Annual Compensation" shall mean the mean annual compensation received or receivable by the Executive pursuant to Sections 4.1, 4.2 and 4.3 with respect to each of the three full fiscal years of Xxxxx-Craft, or such shorter period of the Executive's employment with Xxxxx-Craft pursuant hereto, immediately preceding the date of the Executive's death (in the case of Section 10.1) or the date of the termination of the Employment Term (in the case of Section 10.2).
Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination and which was either (i) included in the Executive's gross income for tax purposes, including but not limited to Base Salary, bonuses and amounts taxable to the Executive under any qualified or non-qualified employee benefit plans of the Employers, or (ii) deferred at the election of the Executive. For purposes of this definition, Average Annual Compensation shall not include any funds paid to the Executive pursuant to the Executive's Initial Employment Agreement in connection with the Corporation's initial public offering and termination of the Initial Employment Agreement, which was included by Executive as compensation in Executive's federal income tax return.
