Common use of Earnings to Date of Termination Clause in Contracts

Earnings to Date of Termination. An amount equal to the sum of (a) base salary or other compensation earned through the date of termination, plus (b) the Executive's PRO RATA share (based on the portion of the fiscal year during which the Executive was employed) of the highest annual bonus paid during the three fiscal years preceding the termination of employment, plus (c) all accrued vacation and deferred compensation.

Appears in 2 contracts

Samples: Employment Agreement (First Essex Bancorp Inc), Employment Agreement (First Essex Bancorp Inc)

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Earnings to Date of Termination. An amount equal to the sum of (a) base salary or other compensation earned through the date of termination, plus (b) the Executive's PRO RATA share (based on the portion of the fiscal year during which the Executive was employed) of the larger of: (i) the highest annual bonus paid during the three fiscal years preceding the termination of employmentemployment or (ii) twenty percent (20%) of the Executive's current Annual Compensation (as defined below), plus (c) all accrued vacation and deferred compensation.

Appears in 1 contract

Samples: Employment Agreement (Able Laboratories Inc)

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Earnings to Date of Termination. An amount equal to the sum of (a) base salary or other compensation earned through the date of termination, plus (b) the Executive's PRO RATA pro rata share (based on the portion of the fiscal year during which the Executive was employed) of the highest average of the annual bonus paid during the three two fiscal years preceding the termination of employment, plus employment (c) all accrued vacation and deferred compensationthe "Pre-Termination Compensation").

Appears in 1 contract

Samples: Employment Agreement (Novelos Therapeutics, Inc.)

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