Definition of Average Annual Incentive Compensation


Average Annual Incentive Compensation means the average of the three (3) greatest amounts of Annual Incentive Compensation out of the five (5) calendar years prior to the year in which a Termination Date occurs.
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Examples of Average Annual Incentive Compensation in a sentence

The term "Average Annual Incentive Compensation" means the sum of Average Short Term Incentive Compensation, as defined in clause (a) below, and Average Long Term Incentive Compensation, as defined in clause (b) below.
Except as otherwise provided in Section 2.3, Key shall cause the Executive to receive, during the Guaranteed Compensation Period, as incentive compensation, an amount that, on an annualized basis, is at least equal to the Executives Average Annual Incentive Compensation.
The Compensation Amount is defined as the sum of (i) the annual Base Salary of Executive as in effect immediately prior to Executive's termination of employment, and (ii) the Average Annual Incentive Compensation.
The Average Annual Incentive Compensation shall be a cash payment equal to the value of the average annual incentive compensation earned by Executive in each of the three full calendar years prior to the date of termination.
The term Average Annual Incentive Compensation means Average Short Term Incentive Compensation, as defined in Section 8.4 below and Average Long Term Incentive Compensation, as defined in Section 8.3 below.