Average Annual Performance Bonus

Average Annual Performance Bonus. Shall mean the average of the annual performance bonuses paid to Executive by the Company for the last three full fiscal years prior to the Date of Termination (or in the event that Executive was not employed by the Company for the whole of such three fiscal years, such fewer number of fiscal years during which Executive was employed by the Company prior to the Date of Termination). For purposes of calculating Average Annual Performance Bonus, any portion of an annual performance bonus earned... but (i) deferred or (ii) settled in stock or stock-based awards shall be considered to have been paid (x) for the year for which such annual performance bonus was earned and (y) in an amount equal to the amount Executive would have received if such portion had not been deferred or settled in stock or stock-based awards and instead had been paid in cash. View More