Accrued Compensation Definition Example

Accrued Compensation. For purposes of this Agreement, "Accrued Compensation" shall mean an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Employee on behalf of the Company during the period ending on the Termination Date, (iii) accrued, but unused vacation pay and (iv) bonuses and incentive compensation (other... than the Pro Rata Bonus (as hereinafter defined)). View More