Final Average Compensation

Final Average Compensation. The average of the Participant's -------------------------- annual Considered Compensation for the five or fewer number of years preceding his termination of employment or death determined according to the terms of the Pension Plan regardless of whether the Participant participates in the Pension Plan.

Final Average Compensation. Shall mean the average of the Participant's base and bonus taxable compensation (determined without regard to any income deferral elections), but not including income arising from stock option exercise, restricted stock grants and other forms of equity compensation, for the three (3) calendar years (which need not be consecutive) with the Company, its subsidiaries and affiliates, that yield the greatest average. For this purpose, the same calendar years need not be used for determining the... largest base and bonus compensation amounts. For purposes of determining Final Average Compensation, in the event that the Participant's employment terminates during the course of a year as a result of any of the events set forth in Section 11(e) of the Participant's employment agreement following a Change in Control, base salary for the Participant for such year shall be annualized for the entire year and bonus for such year shall be equal to the target bonus for the Participant as set forth in his employment agreement, and in the event that Participant's employment terminates during the course of a year for any other reason, base salary for such year shall be the pro rata salary paid to the Participant for such year and bonus for such year shall be the bonus to which the Participant is entitled to be paid for such year under the terms of his employment agreement. View More

Final Average Compensation. (i) the average monthly Compensation (as defined in paragraph (b) of this Section) received by a Former FT Participant during the highest sixty (60) consecutive calendar months (or such shorter period if the Former FT Participant had not completed sixty (60) consecutive calendar months) during the one hundred twenty (120) calendar months (or such shorter period if the former FT Participant had not completed one hundred twenty (120) consecutive calendar months) immediately preceding the earlier... to occur of the Former FT Participant's Severance from Service Date or; December 31, 1993. 130 (ii) with respect to a determination of Average Annual Compensation for any Plan Year beginning on or after December 31, 1988 but before January 1, 1994, Compensation shall not exceed the limitations on compensation under Section 401(a)(17) of the Internal Revenue Code, (adjusted to reflect increases in the cost of living before January 1, 2002); View More

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

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.

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.

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.

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

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.