Average Quarterly Compensation

Average Quarterly Compensation. Shall mean your average quarterly compensation for the full eight complete fiscal quarters preceding the date of your Termination Date, computed as the sum of the following for such eight quarters, divided by eight (or such lesser full fiscal quarters if you have been employed less than eight full fiscal quarters): i. Your base salary at the rate(s) in effect for such quarters; and ii. If you were a sales executive, your commissions that you were entitled to be paid with respect... to your performance of services during such period under the terms of any applicable commission plans (regardless of when paid). Average Quarterly Compensation will not include any bonus amounts, income or gain upon exercise of stock options, or upon sale of stock, nor will it include the value of any benefits. The intent of this definition is to average base salary and commissions (if applicable) earned over 8 or less quarters (as applicable). -5- View More