Common use of Average Annual Compensation Clause in Contracts

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 "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to Base Salary and cash bonus received by the Executive by from the Employers Employer or any subsidiary thereof (excluding any deferred amounts) during the most recent five taxable calendar years immediately preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the EmployersExecutive was employed).

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 TerminationTermination (or such shorter period as the Executive was employed), including Base Salary and benefits and bonuses under any employee benefit plans of the EmployersEmployers but excluding any compensation resulting from the exercise of stock options or the vesting of restricted stock awards.

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 Base Salary, cash bonuses and amounts allocated 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 qualified employee benefit plans of the EmployersEmployers for the preceding three years.

Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to Base Salary and cash bonus received by the Executive by from the Employers Employer or any subsidiary thereof (excluding any deferred amounts) during the most recent five taxable calendar years immediately preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the EmployersExecutive was employed).

Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to Base Salary and cash bonus received by the Executive by from the Employers Employer or any subsidiary thereof (excluding any deferred amounts) during the most recent five taxable calendar years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the EmployersExecutive was employed).

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 Employer or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits (as defined in Section 1(b) hereof) and bonuses under any employee benefit plans paid to the Executive but excluding amounts relating to the vesting of the EmployersManagement Recognition Plan shares.

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 Termination and benefits included in the Executive's gross income for tax purposes and bonuses under any employee benefit plans income earned and deferred by the Executive pursuant to any plan or arrangement 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 TerminationTermination (or such shorter period as the Executive was employed), 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 Employer or any subsidiary thereof during the most recent five taxable years preceding the Date of TerminationTermination (or such shorter period as the Executive was employed), including Base Salary and benefits and bonuses or other compensation under any employee benefit plans of the EmployersEmployer.

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation Base Salary and cash bonus paid to the Executive by the Employers Employer or any subsidiary thereof during the most recent five taxable calendar years preceding the year in which the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination occurs (or such shorter period as the EmployersExecutive was employed).

Average Annual Compensation. The Executive's "’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 TerminationTermination (or such shorter period as the Executive was employed), and which was included in the Executive’s gross income for tax purposes including but not limited to Base Salary Salary, bonuses, director’s fees, if applicable, and benefits and bonuses under all other amounts taxable to the Executive pursuant to 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, including Base Salary and benefits (as defined in Section 1(b) hereof) and bonuses under any employee benefit plans paid to the Executive but excluding amounts relating to the vesting of the EmployersManagement Recognition Plan shares.

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation the Base Salary and cash bonus paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable calendar 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 "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation Base Salary and any cash bonus paid to the Executive by the Employers Employer or any subsidiary thereof during the most recent five taxable calendar years preceding the year in which the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination occurs (or such shorter period as the EmployersExecutive was employed).

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 year in which the Date of Termination, including Base Salary Termination occurs and benefits included in the Executive's gross income for tax purposes and bonuses under any employee benefit plans income earned and deferred by the Executive during such period pursuant to any plan or arrangement 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 amount of compensation paid to Base Salary and cash bonus received by the Executive by from the Employers or any subsidiary thereof (excluding any deferred amounts) during the most recent five taxable calendar years immediately preceding the Date of TerminationTermination (or, including Base Salary and benefits and bonuses under any employee benefit plans if the Executive was not employed by the Corporation or the Bank as an officer thereof for all of such five-year period, such shorter period as the EmployersExecutive was employed).

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 Employer or any subsidiary Subsidiary thereof during the most recent five taxable years preceding the Date of TerminationTermination (or such shorter period as the Executive was employed), including Base Salary and benefits and bonuses or other compensation under any employee benefit plans of the EmployersEmployer.

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 Termination (or such shorter period as the Executive was employed) and benefits included in the Executive's gross income for tax purposes and bonuses under any employee benefit plans income earned and deferred by the Executive pursuant to any plan or arrangement 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, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation Base Salary and cash bonus paid to the Executive by the Employers Employer or any subsidiary thereof during the most recent five taxable calendar years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the EmployersExecutive was employed).

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 Bank or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits Salary, as defined in Section 1.(b) hereof, and bonuses under any employee benefit plans of the EmployersBank.

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 Employer and any subsidiary thereof of the Employer during the most recent five taxable three calendar years preceding the Date of Termination, including Base Salary and benefits and Salary, bonuses under any employee benefit plans of the EmployersEmployer, and contributions to 401(k), pension and other retirement plans.

Average Annual Compensation. The Executive's "’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 year in which the Date of Termination, including Base Salary Termination occurs (or such shorter period as the Executive was employed) and benefits included in the Executive’s gross income for tax purposes and bonuses under any employee benefit plans income earned and deferred by the Executive pursuant to any plan or arrangement of the Employers.

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to the Executive by the Employers Bank and any parent or any subsidiary thereof during the most recent five taxable three calendar years immediately preceding the year in which the Date of Termination, including Base Salary Termination occurs and benefits and bonuses under any employee benefit plans of included in the EmployersExecutive’s gross income for tax purposes.

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 TerminationTermination and included in the Executive's gross income for tax purposes, including but not limited to Base Salary Salary, bonuses and benefits and bonuses amounts paid or accrued on behalf of the Executive under any employee benefit plans of the Employers.

Average Annual Compensation. The Executive's "’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 Termination and benefits included in the Executive’s gross income for tax purposes and bonuses under any employee benefit plans income earned and deferred by the Executive pursuant to any plan or arrangement 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, including Base Salary as reflected in the annual W-2 and benefits and bonuses under any employee benefit plans of Tax Statement provided to the Employers.Executive. (b)

Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to Base Salary and cash bonus received by the Executive by from the Employers or any subsidiary thereof (excluding any deferred amounts) during the most recent five taxable calendar years immediately preceding the Date of TerminationTermination (or, including Base Salary and benefits and bonuses under any employee benefit plans if the Executive was not employed by the Corporation or the Bank as officer thereof for all of such five-year period, such shorter period as the EmployersExecutive was employed).

Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation Base Salary and bonus 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 Termination (or such shorter period as the EmployersExecutive was employed).

Average Annual Compensation. The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to the Executive by the Employers Bank and any parent or any subsidiary thereof during the most recent five taxable three calendar years immediately preceding the year in which the Date of Termination, including Base Salary Termination occurs and benefits and bonuses under any employee benefit plans of included in the EmployersExecutive's gross income for tax purposes.

Average Annual Compensation. The Executive's "’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 Company and any subsidiary thereof of the Company during the most recent five taxable three calendar years preceding the Date of Termination, including Base Salary base salary, bonuses, and benefits Company contributions to 401(k), deferred compensation, pension and bonuses under any employee benefit plans of the Employersother retirement plans. Annual compensation excludes stock-based compensation.

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 (or Circle Financial or any subsidiary thereof) during the most recent five taxable years preceding the Date of TerminationTermination (or such shorter period as the Executive was employed thereby), including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation paid to Base Salary and cash bonus received by the Executive by from the Employers Employer or any subsidiary thereof (excluding any deferred amounts) during the most recent five taxable calendar years immediately preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the Employers.Executive was employed). ​

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 Employer or any subsidiary thereof during the most recent five three taxable years preceding the Date of Termination, including Base Salary as reflected in the annual W-2 Wage and benefits and bonuses under any employee benefit plans of Tax Statement provided to the EmployersExecutive.

Average Annual Compensation. The Executive's Executives "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 Company or any subsidiary thereof Subsidiary and includible in the Executive's gross income for federal income tax purposes during the five most recent five taxable years preceding ending before the Date of TerminationChange in Control (or such shorter period as the Executive was employed), including Base Salary and benefits and bonuses under any employee benefit plans of the Employersbonuses.

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation Base Salary and cash bonus paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable calendar years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the EmployersExecutive was employed).

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 Employer or any subsidiary thereof during the most recent five three taxable years preceding the Date of TerminationTermination (or such shorter period as the Executive was employed), including Base Salary and benefits and bonuses or other compensation under any employee benefit plans of the EmployersEmployer.

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 three consecutive calendar years preceding the Date of TerminationTermination which yield the highest such average. If the Executive has worked for less than three consecutive calendar years, including Base Salary the "Average Annual Compensation" shall mean the sum of total compensation received, divided by the number of months worked, and benefits and bonuses under any employee benefit plans of the Employers.multiplied

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation Base Salary and commissions paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding calendar year proceeding the year in which the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination occurs (or such shorter period as the EmployersExecutive was employed).

Average Annual Compensation. The Executive's "’s “Average Annual Compensation" ” for purposes of this Agreement shall be deemed to mean the average level amount of compensation Base Salary and cash bonus paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable calendar years preceding the year in which the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination occurs (or such shorter period as the EmployersExecutive was employed).

Average Annual Compensation. The Executive's "’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 TerminationTermination (or such shorter period as the Executive was employed), 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 amount of compensation Base Salary and cash bonus paid to the Executive by the Employers Employer or any subsidiary thereof during the most recent five taxable calendar years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of Termination (or such shorter period as the EmployersExecutive was employed).

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.