Earnings Amount

Earnings Amount. Shall mean, as of the Termination Date, the greater of: (i) the largest dollar amount equal to the sum of the annual Base Salary and annual Incentive Bonus paid to or earned by the Executive (including amounts deferred by him) with respect to any twelve-month period during the period beginning on June 18, 1997 and ending on the Termination Date, and (ii) the dollar amount equal to the result of the following formula: (S + MB) × Y, where S = annual Base Salary as... in effect immediately prior to the Termination Date, MB = the maximum Incentive Bonus the Executive could have earned during the performance period in effect as of the Termination Date (or if no performance period is then in effect, for the last completed performance period), Y = an appreciation rate of 10% per annum through the end of the then current Term of Employment. View More