Covered Compensation

Covered Compensation. Is the base salary earned by the Participant for the Plan Year. For a Board member, "Covered Compensation" is directors' fees.

Covered Compensation. Means an employee's Base Compensation plus bonuses, commissions, overtime and other premium payments, sick pay, and shortterm disability payments but excluding severance pay and taxable fringe benefits (such as club dues, excess life insurance and personal automobile use); provided, however, that no more than $150,000 in cumulative aggregate amount of all of the foregoing forms of ... included compensation during any single Payment Period or two Payment Periods together comprising a single calendar year may be counted as Covered Compensation for purposes of any payroll deductions, stock purchases or other computations under this Plan with respect to such Payment Period(s). View More

Covered Compensation. Regular wages earned by and paid to the Participant during the Performance Period, including any Paid Time Off (PTO) pay. Covered compensation does not include any other compensation received during the Performance Period, including, but not limited to, earnings received during a paid leave, overtime or commission pay