Example Definitions of "ACCRUE"
ACCRUE. For purposes of this Agreement, 'Accrued Compensation' shall mean the following amounts earned or accrued through the 'Termination Date' (as hereinafter defined) but not paid as of the Termination Date: (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay, and (iv) the Executive's bonus payable for the year in which the Termination Date occurs under the... annual Performance Incentive Plan and GoalSharing plans (collectively, the 'Bonus Plans') based on actual performance, pro-rated by multiplying such bonuses by a fraction whose numerator is the number of months the Executive worked in the calendar year in which the Termination Date occurred (counting those months up to the month end that is closest to the Termination Date) and whose denominator is twelv View More
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