Termination Compensation

Termination Compensation. A monthly amount equal to one- twelfth (1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based benefits, including for these purposes amounts earned or payable whether or not deferred) received by the Employee during any one of the five (5) calendar years immediately preceding the calendar year in which falls his Termination Date; provided, that if the cash compensation received by the Employee during the Termination Year exceeds the highest... amount of the annual cash compensation received by him during any one of the immediately preceding five (5) calendar years, the cash compensation received by the Employee during the Termination Year shall be deemed to be his highest amount of annual cash compensation. View More

Termination Compensation. For the purposes of this Agreement, "Termination Compensation" shall have the meaning ascribed to it in Section 2(a) of this Agreement.