Common use of Current Compensation Clause in Contracts

Current Compensation. Current Compensation" shall mean an amount equal to the greater of (A) Employee's highest annual base salary for the year preceding the year in which the termination occurs, or (B) Employee's annual base salary at any time during the year in which the termination occurs.

Appears in 5 contracts

Samples: Employment Agreement (Visual Numerics Inc), Employment Agreement (Visual Numerics Inc), Employment Agreement (Visual Numerics Inc)

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Current Compensation. Current Compensation" shall mean (i) an amount equal to the greater of (A) EmployeeConsultant's highest annual base salary compensation for the year preceding the year in which the termination occurs, or (B) EmployeeConsultant's annual base salary compensation at any time during the year in which the termination occurs.

Appears in 1 contract

Samples: Consultant Agreement (Visual Numerics Inc)

Current Compensation. Current Compensation" shall mean an amount equal to the greater of (A) Employee's highest annual base salary for the year preceding the year in which the termination occursoccurs plus the amount of any bonus payable to Employee during that year, or (B) Employee's annual base salary at any time during the year in which the termination occursoccurs plus the amount of any bonus payable to Employee during that year, and (C) Employee's annual base salary on the date of termination plus the amount of any bonus payable to Employee during that year.

Appears in 1 contract

Samples: Employment Agreement (Catalyst Semiconductor Inc)

Current Compensation. Current Compensation" shall mean (i) an amount equal to the greater of (A) EmployeeExecutive's highest annual base salary for the year preceding the year in which the a termination occurs, of employment occurs or (B) EmployeeExecutive's annual base salary at any time during the year in which a termination of employment occurs, plus (ii) an amount equal to the greater of the bonus payments Executive received in the preceding calendar year or the target bonus payment for the year in which a termination of employment occurs.

Appears in 1 contract

Samples: Employment Agreement (Calpine Corp)

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Current Compensation. Current Compensation" shall mean an amount equal to the greater of (Ai) the sum of the Employee's highest annual rate of base salary for in effect during the year preceding the fiscal year in which the termination occurs, a Change of Control occurs plus Employee's target bonus for such fiscal year assuming 100% individual and Company performance; or (Bii) the sum of the Employee's highest annual rate of base salary at any time in effect during the fiscal year in which the of Employee's termination occursplus Employee's target bonus for such fiscal year assuming 100% individual and Company performance.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Visx Inc)

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