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
For purposes of this Agreement, the term "Highest Annual Compensation" shall mean the Employee's highest annual cash compensation during the Measurement Period, including cash bonuses under Employer's bonus plans, but excluding other fringe benefits.
The Executive's "Highest Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of compensation paid to the Executive by the Employer or any subsidiary thereof during the most recent three taxable years preceding the Date of Termination, including Base Salary (as defined in Section 1(a) hereof) and bonuses paid to the Executive but excluding amounts relating to the vesting of Management Recognition Plan shares.
The Salary Continuance Benefit is an amount equal to 2.99 times the Executive’s Highest Annual Compensation.
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 Executive's "Highest Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent three taxable years preceding the Date of Termination, including Base Salary (as defined in Section 1(a) hereof) and bonuses paid to the Executive but excluding amounts relating to the vesting of Management Recognition Plan shares.
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 a dollar amount equal to the highest of the Executive’s annualized base salary amount payable to him by the Company during the term of this Agreement.
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 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 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 of the SERS annual compensation or the other retirement system annual compensation for an active position.
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, at the option of the Executive, the amount required to be paid hereby shall be paid in equal monthly installments over the six months succeeding the Date of Termination, payable on the first day of each such month;