Final Average Incentive Pay

Final Average Incentive Pay. Means the average monthly amount determined by dividing the total Incentive Pay of a Participant for the five consecutive Plan Years in which his Incentive Pay was highest during the last 180 calendar months of his Credited Service prior to his retirement (or, in the case of a Participant who is receiving disability benefits pursuant to Article V of the Retirement Plan, prior to the date he became Totally and Permanently Disabled (as those terms are defined in the Retirement Plan), or other... date as of which a calculation in respect thereof is to be made, by sixty (60). In the event that the Participant shall have had Incentive Pay for less than five consecutive Plan Years, his total Incentive Pay for such lesser number of consecutive Plan Years shall be divided by the product of 12 and the number of such consecutive Plan Years during such total period. View More