Prior Accrued Compensation definition
Prior Accrued Compensation means an amount which shall include all amounts earned or accrued prior to August 1, 2016, but not paid as of the Termination Date, including (i) base salary, and (ii) reimbursement for reasonable and necessary business expenses incurred by the Executive on behalf of the Company, pursuant to the Company's expense reimbursement policy in effect at such time, during the period ending on the Termination Date.
Examples of Prior Accrued Compensation in a sentence
Unless Company and Executive have previously agreed to other arrangement, any Prior Accrued Compensation previously unpaid shall be paid to Executive over 36 equal monthly installments commencing on the 30th day following the Termination Date,.
For purposes of this Agreement, "Prior Accrued Compensation" shall mean an amount which shall include all amounts earned or accrued prior to August 1, 2016, but not paid as of the Termination Date, including (i) base salary, and (ii) reimbursement for reasonable and necessary business expenses incurred by the Executive on behalf of the Company, pursuant to the Company's expense reimbursement policy in effect at such time, during the period ending on the Termination Date.