Annual Compensation Amount definition
Annual Compensation Amount means an Eligible Employee’s Base Salary and Bonus Amount, in each case, immediately prior to the Termination Date and determined without giving effect to any reduction which is alleged to constitute Good Reason.
Annual Compensation Amount means the Employee’s annualized base salary in effect immediately preceding the Employee’s termination of employment (disregarding any reduction thereto which constitutes grounds for Good Reason), including all amounts of the Employee’s base salary that are deferred under any qualified and non-qualified employee benefit plans of Company or any other agreement or arrangement, plus the greater of • the Employee’s target annual bonus opportunity in effect immediately preceding the Employee’s termination (disregarding any reduction thereto which constitutes grounds for Good Reason) or • the average of the actual annual bonuses earned by the Employee over the three-year period immediately preceding the calendar year in which the Employee’s employment terminated.
Annual Compensation Amount means (a) $3,500,000 in the aggregate for calendar year 2026, and (b) for each calendar year thereafter, the Annual Compensation Amount for the prior calendar year (“Year X”) multiplied by the CPI Adjustment Factor; “CPI Adjustment Factor” shall mean a fraction, the numerator of which is the CPI for Year X, and the denominator of which is the CPI for the calendar year immediately preceding Year X; and “CPI” means the All Items inflation rate according to the CPI-U for the trailing twelve months.
Examples of Annual Compensation Amount in a sentence
The amount of the quarterly fees paid by the Company Group beginning on January 1, 2026, and continuing for the remainder of the term of this Agreement will equal 1/4th of the Annual Compensation Amount (as defined below), adjusted each year by the CPI Adjustment Factor (as defined below).
Notwithstanding the foregoing, the aggregate Compensation paid during any calendar year shall equal the Annual Compensation Amount for such year.
Any quarterly payments made during the 2026 calendar year and prior to the Amendment Date shall be adjusted to equal 1/4th of the Annual Compensation Amount, and the amount of any such adjustment(s) shall be applied to the next quarterly payment due following the Amendment Date.
More Definitions of Annual Compensation Amount
Annual Compensation Amount means the Employee’s annualized base salary in effect immediately preceding the Employee’s termination of employment (disregarding any reduction thereto which constitutes grounds for Good Reason), including all amounts of the Employee’s base salary that are deferred under any qualified and non-qualified employee benefit plans of Company or any other agreement or arrangement, plus the greater of (i) the Employee’s target annual bonus opportunity in effect immediately preceding the Employee’s termination (disregarding any reduction thereto which constitutes grounds for Good Reason) or (ii) the average of the actual annual bonuses earned by the Employee over the three-year period immediately preceding the calendar year in which the Employee’s employment terminated.
Annual Compensation Amount means the aggregate of:
(1) the Annual Base Salary at the highest rate in effect during the 12 months ending on the date of termination of employment; and
(2) the Annual Bonus Amount;
Annual Compensation Amount means the sum of (i) the Executive's annual base salary for the year in which the Date of Termination occurs (ignoring for this purpose any reduction that would constitute grounds for a Good Reason resignation), and (ii) the Bonus Amount.
Annual Compensation Amount means the Employee’s annualized base salary in effect immediately preceding the Employee’s termination of employment (disregarding any reduction thereto which constitutes grounds for Good Reason), including all amounts of the Employee’s base salary that are deferred under any qualified and non-qualified employee benefit plans of Parent or any other agreement or arrangement, plus the greater of