Common use of Base Period Income Clause in Contracts

Base Period Income. The Executive's Base Period Income equals the sum of (a) his annual base salary as of the Executive's termination date, and (b) the greater of: (i) the average of any annual cash incentive award paid or payable to the Executive for the Company's last two completed fiscal years prior to the Executive’s employment termination or (ii) the Executive's target annual cash incentive award opportunity for the year in which the Executive’s employment termination occurs.

Appears in 10 contracts

Samples: Control Severance Agreement (Simmons First National Corp), Control Severance Agreement (Simmons First National Corp), Control Severance Agreement (Simmons First National Corp)

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Base Period Income. The Executive's Base Period Income equals the sum of (ai) his annual base salary as of the Executive's termination date, and (bii) the greater of: (i) of the average of any annual cash incentive award paid or bonus payable to the Executive for the Company's last two completed fiscal years prior to the Executive’s employment termination or (ii) the Executive's target annual cash incentive award bonus opportunity for the then current year in which under the Executive’s employment termination occursCompany's annual incentive plan.

Appears in 9 contracts

Samples: Executive Severance Agreement (Simmons First National Corp), Executive Severance Agreement (Simmons First National Corp), Executive Severance Agreement (Simmons First National Corp)

Base Period Income. The Executive's Base Period Income equals the sum of (a) his annual base salary as of the Executive's termination date, and (b) plus the greater of: (i) of the average of any annual cash incentive award paid or bonus payable to the Executive for the Company's last two completed fiscal years prior to the Executive’s employment termination or (ii) the Executive's target bonus opportunity under the Company's annual cash incentive award opportunity for the year in which the Executive’s employment termination occursplan.

Appears in 7 contracts

Samples: Executive Severance Agreement (First United Bancshares Inc /Ar/), Executive Severance Agreement (First United Bancshares Inc /Ar/), Executive Severance Agreement (First United Bancshares Inc /Ar/)

Base Period Income. The Executive's Base Period Income equals the sum of (ai) his annual base salary as of the Executive's termination date, and (bii) the greater of: (i) of the average of any annual cash incentive award paid or bonus payable to the Executive for the Company's last two completed fiscal years prior to the Executive’s employment termination or (ii) the Executive's target annual cash incentive award bonus opportunity for the then current year in which under the Executive’s employment termination occursCompany's annual incentive plan.

Appears in 4 contracts

Samples: Executive Severance Agreement (Simmons First National Corp), Executive Severance Agreement (Simmons First National Corp), Executive Severance Agreement (Simmons First National Corp)

Base Period Income. The Executive's Base Period Income equals the sum of (a) his her annual base salary as of the Executive's termination date, and (b) the greater of: (i) the average of any annual cash incentive award paid or payable to the Executive for the Company's last two completed fiscal years prior to the Executive’s employment termination or (ii) the Executive's target annual cash incentive award opportunity for the year in which the Executive’s employment termination occurs.

Appears in 2 contracts

Samples: Control Severance Agreement (Simmons First National Corp), Executive Change in Control Severance Agreement (Simmons First National Corp)

Base Period Income. The Executive's ’s Base Period Income equals the sum of (a) his Executive’s annual base salary as of the Executive's ’s termination date, and (bii) the greater of: (i) of the average of any annual cash incentive award paid or bonus payable to the Executive for the Company's ’s last two completed fiscal years prior to or the Executive’s employment termination or (ii) the Executive's target annual cash incentive award bonus opportunity for the then current year in which under the ExecutiveCompany’s employment termination occursannual incentive plan.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

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Base Period Income. The Executive's Base Period Income equals the sum of (a) his Executive's annual base salary as of the Executive's termination date, and (bii) the greater of: (i) of the average of any annual cash incentive award paid or bonus payable to the Executive for the Company's ’s last two completed fiscal years prior to or the Executive’s employment termination or (ii) the Executive's target annual cash incentive award bonus opportunity for the then current year in which under the ExecutiveCompany’s employment termination occursannual incentive plan.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

Base Period Income. The Executive's ’s Base Period Income equals the sum of (a) his annual base salary as of the Executive's ’s termination date, and (b) the greater of: (i) the average of any annual cash incentive award paid or payable to the Executive for the Company's ’s last two completed fiscal years prior to the Executive’s employment termination or (ii) the Executive's ’s target annual cash incentive award opportunity for the year in which the Executive’s employment termination occurs.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Simmons First National Corp)

Base Period Income. The Executive's ’s Base Period Income equals the sum of (ai) his annual base salary as of the Executive's ’s termination date, and (bii) the greater of: (i) of the average of any annual cash incentive award paid or bonus payable to the Executive for the Company's ’s last two completed fiscal years prior to or the Executive’s employment termination or (ii) the Executive's target annual cash incentive award bonus opportunity for the then current year in which under the ExecutiveCompany’s employment termination occursannual incentive plan.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

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