Total Accrued Compensation definition
Total Accrued Compensation means Executive's (i) base salary that was earned but unpaid through the date of termination, (ii) earned but unpaid vacation or other paid time-off in accordance with the Company's policies and applicable laws, and (iii) any bonus amounts earned in the year prior to the date of termination but not yet paid at the time of termination.
Examples of Total Accrued Compensation in a sentence
In addition to the Severance Benefits described in Paragraph 3 below, and regardless of whether Executive executes the Release or Arbitration Agreement described in Paragraph 5, upon Executive's termination from employment, the Company shall pay to Executive Executive's Total Accrued Compensation plus a reimbursement for documented, accrued and unreimbursed business expenses (provided such expenses are permitted to be incurred by Executive and are reimbursable by Company under Company's policies).
The Total Accrued Compensation and any approved reimbursement(s) shall be paid within ten (10) calendar days after Executive's termination date.