Accrued Base Compensation definition
Accrued Base Compensation all amounts of compensation for services rendered to the Company that have been earned or accrued through the date of the Employee’s termination of employment but that have not been paid as of such date including (i) Base Salary, (ii) reimbursement for reasonable and necessary business expenses incurred by the Employee on behalf of the Company during the period ending on such date, and (iii) vacation pay; provided, however, that Accrued Base Compensation shall not include any amounts described in clause (i) that have been deferred pursuant to any salary reduction or deferred compensation elections made by the Employee.
Accrued Base Compensation. The following amounts of compensation for services rendered to the Company that have been earned through the date of the Executive’s termination of employment but that have not been paid as of such date, including (i) Base Salary, (ii) reimbursement for reasonable and necessary business expenses incurred by the Executive on behalf of the Company during the period ending on such date, and (iii) vacation pay; provided, however, that Accrued Base Compensation shall not include any amounts described in clause (i) that have been deferred pursuant to any salary reduction or deferred compensation elections made by the Executive.
Accrued Base Compensation means, as of the Termination Date, the Participant’s earned and unpaid Base Salary and accrued but unused vacation (to the extent not already paid).
Examples of Accrued Base Compensation in a sentence
Subject to Section 2(i) hereof, this Warrant may be transferred by a Holder, in whole or in part, without the consent of the Issuer.
The Company hereby agrees to pay the Accrued Base Compensation on the earlier to occur of (a) April 15, 2004, or (b) the date on which the 2003 audit is delivered by the Company's auditors (such date is referred to herein, as the "Payment Date").