Highest Annual Compensation means, as determined as of any Date of Termination, the sum of (i) the highest per annum rate of base salary paid by the Employers to the Executive at any time during the three-year period prior to such Date of Termination, (ii) the highest amount of commission or other compensation (which is not otherwise included in the base salary and bonus amounts referred in clauses (i) and (iii) of this paragraph (c)) paid by the Employers to the Executive with respect to any of the three most recently completed fiscal years of the Bank prior to such Date of Termination, and (iii) the highest annual incentive compensation or other bonus amount paid by the Employers to the Executive (or which would have been paid but for an election by the Executive to defer payment to a later period) with respect to any of the three most recently completed fiscal years of the Bank prior to such Date of Termination.

Highest Annual Compensation. (as herein defined). For purposes of this Agreement, "Highest Annual Compensation" shall mean the sum of (i) the highest per annum rate of Base Salary, and (ii) the aggregate bonus amounts paid to the Executive (or which would have been paid but for an election to defer payment to a later period), in respect of any fiscal year of the Bank at any time during the Term of Employment;

Highest Annual Compensation means, as determined as of the date of termination of Executive’s Term of Employment under the applicable termination provision set forth above, the sum of (a) the highest per annum rate of Base Salary paid by Employer to Executive at any time during the Term of Employment prior to such date of termination, and (b) the highest annual cash performance bonus or other annual cash incentive compensation paid by Employer to Executive, including all such cash amounts paid to Executive individually and as part of an employee or executive compensation group (or which would have been paid but for an election by Executive to defer payment to a later period) with respect to any single fiscal year of Employer during the period commencing April 1, 2004 and ending on such date of termination.

Examples of Highest Annual Compensation in a sentence

Years of service to purchase Permissive contribution rate Highest annual compensation earnable Purchase Additional Service Credit • 9If Anthony retires at age 60 with 29 years of service credit (including the paternity leave service credit) and a highest average annual compensation earnable of $90,000, his monthly retirement benefit will increase by $150 per month.

More Definitions of Highest Annual Compensation

Highest Annual Compensation means the highest of the STRS annual compensation or the other retirement system annual compensation for an active position as determined by the paying system.

Highest Annual Compensation means, as determined as of any Date of Termination, the sum of (a) the highest per annum rate of base salary paid by the Employers to the Executive at any time during the Term of Employment prior to such Date of Termination, (b) the highest amount of commission or other compensation (which is not otherwise included in the base salary and bonus amounts referred in clauses (a) and (c) hereof) paid by the Employers to the Executive with respect to any fiscal year of the Employers during the Term of Employment prior to such Date of Termination, and (c) the highest annual incentive compensation or other bonus amount paid by the Employers to the Executive (or which would have been paid but for an election by the Executive to defer payment to a later period) with respect to any fiscal year of the Employers during the Term of Employment prior to such Date of Termination.

Highest Annual Compensation means, as determined as of any Date of Termination, the sum of (a) the highest per annum rate of base salary paid by the Employers to the Executive at any time during the Term of Employment prior to such Date of Termination and (b) the highest annual cash performance bonus or other annual cash incentive compensation paid by the Employers to the Executive, including all such cash amounts paid to the Executive individually and as part of an employee or executive officer group (or which would have been paid but for an election by the Executive to defer payment to a later period), with respect to any single fiscal year of the Employers during the Term of Employment prior to such Date of Termination.

Highest Annual Compensation means, as determined as of the date of termination of Executive’s Term of Employment under the applicable termination provision set forth above, the sum of (a) the highest per annum rate of base salary paid by Employer to Executive at any time during the Term of Employment prior to such date of termination, and (b) the highest annual cash performance bonus or other annual cash incentive compensation paid by Employer to Executive, including all such cash amounts paid to Executive individually and as part of an employee or executive compensation group (or which would have been paid but for an election by Executive to defer payment to a later period), with respect to any single fiscal year of Employer during the period commencing January 1, 2004 and ending on such date of termination. Except as set forth in this First Amendment to Employment Agreement, the parties ratify and confirm all of the provisions of the Employment Agreement dated December 19, 2008 and all provisions thereof shall continue in full force and effect.

Highest Annual Compensation means the highest annual compensation consisting only of base salary and cash bonuses paid to the Executive by the Company and its affiliated companies for any six months ending with the Executive’s termination. The Salary Continuance Benefit will be paid to the Executive in a lump sum cash payment not later than the 45th day following the Date of Termination, provided that, (1) if the Executive is a Key Employee on the Date of Termination, the Salary Continuance Benefit shall not be paid until the first day of the seventh month following the Date of Termination or (2) if the Date of Termination occurs more than two years after the Change in Control Date, the Salary Continuation Benefit will be paid in the form of periodic salary payments as if the Executive had not been terminated.

Highest Annual Compensation means the Employee's highest annual cash compensation during the Measurement Period, including cash bonuses under Employer's bonus plans, but excluding other fringe benefits. Employer agrees that it will make the payments due under this Section 3 on the first day of each month following the Termination Date in an amount equal to 1/12 of 100% of Employee's Highest Annual Compensation. The payments and benefits required by Sections 3 and 4 hereof shall continue despite the fact that, after the Termination Date, the Term of this Agreement may have expired pursuant to Section 1. The payments required by this Section 3 shall not be offset or reduced by any income or earnings received from any other employment or other activity the Employee may engage in during such three year period. Employee shall have no duty to mitigate damages.