Average Annual Incentive Awards and Bonus(es)

Average Annual Incentive Awards and Bonus(es). Shall mean the amount equal to the average of the annual incentive award(s) and bonus(es) paid to Executive in each of the three complete calendar years prior to the Date of Termination (including amounts paid by EASTERN if the Date of Termination occurs less than three years after the Effective Date). The "Average Annual Incentive Award(s) and Bonus(es)" shall mean the dollar value of the cash or other consideration paid to the Executive as annual performance based compensation (whether or not... deferred) in each calendar year during said period; the performance based compensation shall be deemed to be paid to Executive in the calendar year that the Executive is notified of the award of performance based compensation and has the right to accept payment of the award. Executive's annual incentive awards and bonuses do not include long-term incentive compensation or any Retention Payments (herein defined) or the Non-compete Payment (herein defined); therefore, annual incentive awards and bonuses shall be calculated excluding the value of options to purchase stock, performance shares, restricted stock, restricted stock units, or other long-term incentives. View More