Final Average Compensation

Final Average Compensation. Means the average of the Executive's annual base salary and bonuses (prior to any salary reduction contributions to any Section 401(k), 125 or 132 plan) for the three (3) calendar years during the Executive's 2 employment with the Company for which the Executive's combined annual base salary and bonus were the highest.

Final Average Compensation. For purposes of paragraph 1(a), Employee's "final average compensation" shall be the annual average of Employee's Base Salary (as defined in the Employment Agreement) and cash incentive payment awarded during the five consecutive calendar years preceding the calendar year of Employee's termination. In no event will "final average compensation" take into account any lump sum payment made to Employee in connection with a "Change of Control" (as that term is defined in the Employment Agreement).

Final Average Compensation. The average of the Executive's annual base salary (prior to any salary reduction contributions to any Section 401(k) plan) or nay other pre-tax salary reductions, excluding bonuses, for the three calendar years during the Executive's employment with the Company for which the Executive's annual base salary was the highest.

Final Average Compensation. The average of the sum of the salary and cash bonus (inclusive of all discretionary bonuses and cash incentive programs in which Employee participated) for the last five (5) consecutive, completed calendar years of service. Stock options, restricted stock or other equity compensation grants, programs or plans shall not be included in the computation of Final Average Compensation. However, all sums earned under the SFNC Executive Incentive Plan ("EIP") shall be considered as cash compensation,... even if in future years some part or all of the EIP may be paid in stock rather than cash. View More

Final Average Compensation. "Final Average Compensation" -------------------------- shall have the same meaning the term "Final Average Compensation" has under Section 2.27 of Appendix A to the Qualified Plan (i.e., the NBT BANCORP Inc. Defined Benefit Pension Plan, as amended and restated as of October 1, 1989, including amendments adopted through August 31, 1998), except that in determining the amount of Compensation (as defined... in Section 2.14 of said Appendix A to the Qualified Plan) to be used in calculating Final Average Compensation under Section 2.27 of said Appendix A to the Qualified Plan, Compensation shall not be subject to the compensation limitation of section 401(a)(17) of the Code. View More

Final Average Compensation. Means the average of the Executive's annual base salary (prior to any salary reduction contributions to any Section 401(k), 125 or 132 plan) and bonuses received by the Executive during the thirty-six (36) month period ending on December 31 of the calendar year immediately preceding the Executive's separation from employment with the Bank. Without limiting the foregoing, salary and bonus payments received during such 36-month period but attributable to an earlier period... shall be considered under the preceding sentence; and amounts received after such period but attributable to services rendered during such period shall not be considered. View More

Final Average Compensation. Shall mean the Participant's average Compensation received during the three (3) consecutive Fiscal Years out of the ten (10) Fiscal Years prior to and including a Participant's termination of employment which produce the highest average. Rules governing Final Average Compensation are as follows: (i) Only Fiscal Years commencing after June 30, 1995 shall be counted. 1 (ii) Fiscal Years while a... Participant during which Compensation is not awarded from the Contingent Compensation Plan and Incentive Compensation shall count as zero for purposes of Compensation and as a Fiscal Year for purposes of averaging. (iii) If a Participant has less than three (3) Fiscal Years Compensation after June 30, 1995, Final Average Compensation shall mean the average of the Compensation received in all Fiscal Years after June 30, 1995 divided by the number of Fiscal Years during which Compensation was accrued unless a Participant meets (ii) above. In which instance, the Participant will have a zero for purposes of Compensation for that Fiscal Year, but a year for purposes of averaging. View More

Final Average Compensation. One third of the aggregate compensation paid a Participant during the three full Plan Years out of the five full Plan Years immediately preceding the date on which (i) he ceases to be an Employee or (ii) his benefit is frozen and/or formula and amount is decreased during which the Participant was paid the largest amount of compensation.

Final Average Compensation. Means the average of the annual compensation of the Executive for the three full calendar years within the final five full calendar years of his employment which will produce the highest average. For this purpose, the annual compensation of the Executive shall mean his total cash remuneration from the Corporation, including an amount equal to the average of the annual incentive compensation paid to the Executive by the Corporation, if any, provided that the incentive compensation to be... recognized for this purpose shall be approved by the Management Resources and Compensation Committee in good faith and in its sole discretion, plus the sum of: (a) any salary reduction amounts which the Executive elects to have contributed with respect to him to a qualified cash or deferred arrangement under Section 401(k) of the Code, to a benefit enhancement plan in lieu of contributions to such a qualified cash or deferred arrangement, to a cafeteria plan under Section 125 of the Code, or to any similar plan or arrangement, and (b) any amounts deferred under any deferred compensation plan or contract. Amounts described in (a) and (b) shall be deemed received at the time the Executive would have received them but for the programs described in (a) and (b). Notwithstanding the foregoing, the Executive's total cash remuneration shall not include any benefits or compensation provided to the Executive under the Wachovia Corporation Stock Plan, any similar plan, or any successor or replacement plan. View More

Final Average Compensation. Shall have the same meaning the term "Final Average Compensation" has under Section 2.27 of the Qualified Plan except that in determining the amount of Compensation (as defined in Section 2.14 of the Qualified Plan) to be used in calculating Final Average Compensation under Section 2.27 of the Qualified Plan, Compensation shall not be subject to the compensation limitation of section 401(a)(17) of the Code.