Highest Annual Compensation. The Executive's "Highest Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of compensation paid to the Executive by the Employer or any subsidiary thereof during the most recent three taxable years preceding the Date of Termination, including Base Salary (as defined in Section 1(a) hereof) and bonuses paid to the Executive but excluding amounts relating to the vesting of Management Recognition Plan shares.
Highest Annual Compensation. “Highest Annual Compensation” means, as determined as of the date of termination of Executive’s Term of Employment under the applicable termination provision set forth above, the sum of (a) the highest per annum rate of base salary paid by Employer to Executive at any time during the Term of Employment prior to such date of termination, and (b) the highest annual cash performance bonus or other annual cash incentive compensation paid by Employer to Executive, including all such cash amounts paid to Executive individually and as part of an employee or executive compensation group (or which would have been paid but for an election by Executive to defer payment to a later period) with respect to any fiscal year of Employer during the Term of Employment prior to such date of termination.
Highest Annual Compensation. “Highest Annual Compensation” means, as determined as of the date of termination of Executive’s Term of Employment under the applicable termination provision set forth above, the sum of (a) the highest per annum rate of base salary paid by Employer to Executive at any time during the Term of Employment prior to such date of termination, and (b) the highest annual cash performance bonus or other annual cash incentive compensation paid by Employer to Executive, including all such cash amounts paid to Executive individually and as part of an employee or executive compensation group (or which would have been paid but for an election by Executive to defer payment to a later period), with respect to any single fiscal year of Employer during the period commencing January 1, 2004 and ending on such date of termination. Except as set forth in this First Amendment to Employment Agreement, the parties ratify and confirm all of the provisions of the Employment Agreement dated December 19, 2008 and all provisions thereof shall continue in full force and effect.
Highest Annual Compensation. By striking and removing Section 4.8 in its entirety and replacing said Section 4.8 with the following:
