Highest Annual Compensation

Highest Annual Compensation. The highest annual salary paid --------------------------- to or accrued for Employee in or with respect to the last four (4) fiscal years of Corporation next preceding the Retirement Date plus the highest annual bonus paid to or accrued for Employee with respect to the last four (4) fiscal years next preceding Retirement Date. Annual bonuses shall not include the value of stock options and payments of multi-year performance awards. If the Retirement Date is fixed by the... death of Employee, the fiscal year in which the death occurred shall be included as the fourth fiscal year as if Employee had served through the end of said fiscal year and Employee's salary had continued to be paid at the rate in effect at the date of death and Employee had been paid a bonus with respect to that year commensurate with the bonuses paid to other comparably compensated Corporation executives. View More

Highest Annual Compensation. As determined as of any Date of Termination, the sum of (a) the highest per annum rate of base salary paid by the Employers to the Executive at any time during the Term of Employment prior to such Date of Termination, (b) the highest amount of commission or other compensation (which is not otherwise included in the base salary and bonus amounts referred in clauses (a) and (c) hereof) paid by the Employers to the Executive with respect to any fiscal year of the Employers during the Term of... Employment prior to such Date of Termination, and (c) the highest annual incentive compensation or other bonus amount paid by the Employers to the Executive (or which would have been paid but for an election by the Executive to defer payment to a later period) with respect to any fiscal year of the Employers during the Term of Employment prior to such Date of Termination View More