Final Average Annual Compensation

Final Average Annual Compensation. The average of Employee's Base Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynolds and any compensation determined by the Board of Directors to be a long-term incentive arrangement) for the five (5) consecutive calendar years out of the prior ten (10) calendar years which yields the highest sum. For purposes of this calculation, the tenth calendar year shall be the full or partial year in which Employee's employment terminates, and... Base Compensation and Bonuses for such year shall be annualized. 2 View More

Final Average Annual Compensation. The average of Employee's Base Compensation and Bonuses (excluding any compensation attributable to stock options of any type granted by Reynolds) as determined for the five (5) consecutive calendar years of the last ten (10) calendar years preceding and including the calendar year in which Employee's employment terminates which yields the highest sum. 5