Average Compensation

Average Compensation. The amount determined as of the Benefit Commencement Date by dividing by 36 the total monetary compensation earned by the Executive from the Company and its subsidiaries (or any predecessors or successors thereto by merger or purchase), including but not limited to salary, bonuses and incentive compensation (but excluding specifically stock based compensation, including but not limited to restructured stock, stock options and stock appreciation rights) during the 3 annual periods (whether or... not consecutive) that results in the largest total. An annual period shall consist of any 12 month consecutive period. View More

Average Compensation. The average of a Participant's gross annual compensation, exclusive of any income relating to Company stock, as reported on the Participant's W-2 for the three most recent years ending on or before the Date of Termination (excluding any such year in which the Participant was not employed, and annualizing compensation for any such year in which Participant was employed a partial year).