Final Average Compensation

Example Definitions of "Final Average Compensation"
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).
Found in Community Bank System, Inc. contract
Final Average Compensation. For purposes of paragraph 1(a), Employee's "final average compensation" shall 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 the Employee's termination. In no event will "final 'final average compensation" compensation' take into account any lump sum payment made to Employee in connection with a "Change 'Change of Control" Control' (as that... term is defined in the Employment Agreement). Agreement) View More
Found in Community Bank System, Inc. contract
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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
Found in Simmons First National Corporation contract
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 Employer 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 (or its equivalent) ("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
Found in Simmons First National Corporation contract
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Final Average Compensation. The average of your highest three (3) consecutive calendar years of annual Base Salary and Bonus. For purposes of calculating the average of your highest three (3) consecutive calendar years of Base Salary and Bonus, (a) Base Salary and Bonus for the calendar year in which you experience a Separation from Service shall be annualized, (b) Base Salary and Bonus for other calendar years shall not be annualized, and (c) if you have been employed less than three (3) full calendar years (counting the... final year of employment as an annualized full calendar year), your Final Average Compensation shall be based on the number of full calendar years in which you were an employee of the Bank (again counting the final year of employment as an annualized full calendar year). View More
Found in CAMBRIDGE BANCORP contract
Final Average Compensation. Final Average Compensation means the average of the total amount of Compensation for the three calendar years of Accredited Service preceding the Participant's termination of employment. In the event the Participant has less than three years of Compensation prior to his termination of employment, his total amount of Compensation for his years of service shall be averaged and such average shall be his Final Average Compensation.
Found in WASHINGTON GAS LIGHT CO contract
Final Average Compensation. The sum of (i) the average of the highest three (3) calendar years of base salary paid to a Vested Participant over his or her last five (5) years of employment with the Company and (ii) the average of the highest three (3) annual awards under the Annual Incentive Program of the EICP for his or her last five (5) years of employment with the Company, whether received or deferred.
Found in The Hershey Company contract
Final Average Compensation. The average of the Director's total annual fees from the Bank and Meridian Bancorp, Inc., a Maryland corporation (and its predecessor Meridian Financial Services, Inc.) (the "Holding Company") and all their subsidiaries and affiliates, as reported on Form 1099, for the three calendar years during the Director's service, whether or not consecutive, for which the Director's annual fees were the highest.
Found in Meridian Bancorp, Inc. contract
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.
Found in Meridian Bancorp, Inc. contract
Final Average Compensation. The annualized average of Employee's monthly base salary actually paid by the Bank over the thirty-six (36) consecutive months prior to Employee's termination of employment
Found in NBT Bancorp Inc. contract
Final Average Compensation. The average of the sum of the Employee's base salary for the last five (5) consecutive, completed calendar years of service. All discretionary bonuses, payments under incentive programs or plans, stock options, restricted stock or other equity compensation grants, programs or plans shall not be included in the computation of Final Average Compensation.
Found in Simmons First National Corporation contract
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