Base Salary shall have the meaning set forth in Section 3(a) hereof.
Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.
Annual Salary means the salary given under this Part.
Leave Salary means the monthly amount paid by the University to an employee who is on leave.
Target Bonus has the meaning described in Section 4(b).
Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.
Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).
Employment benefits means all benefits provided or made
Salary as defined in Section 3.1(a).
Bonus Compensation shall have the meaning set forth in Section 3(b).
AIP means the Company's Annual Incentive Plan as it exists on the date hereof and as it may be amended, supplemented or modified from time to time or any successor plan.