Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.
Average Compensation means the average of the Executive's W-2 wages from the Company for the five calendar years (or such fewer number of calendar years of employment with the Company) completed immediately prior to the calendar year in which the Change in Control occurs. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in the Executive's Average Compensation.
Average Compensation. The average compensation for the three consecutive years of service with the Employer that produces the highest average.
Examples of Average Compensation in a sentence
FAC $60,000 X 25 years of service X 2.25% = $33,750 annual pension) Maximum benefit is 80% of Final Average Compensation.
The computation of Final Average Compensation shall include payments for salary, overtime, holidays, annual sick leave pay, annual vacation pay, and longevity pay, but shall not include payments for education bonus, clothing allowance, cleaning allowance, cash-in-lieu of health insurance, payouts at retirement of sick leave or vacation leave.
More Definitions of Average Compensation
Average Compensation means the average of the Executive’s W-2 wages from Veritas’ for the five (5) calendar years or fewer number of calendar years completed immediately prior to the calendar year in which the Change in Control is effected.
Average Compensation means the aggregate of your highest three years total annual cash compensation paid to you by the Company consisting of (i) base salaries and (ii) regular year-end cash bonuses paid with respect to the years in which such salaries are paid (the bonus with respect to any such year, however, only to be included in an amount not in excess of 60% of your maximum bonus opportunity for such year), divided by three, provided, however, (x) if any portion of a bonus is excluded by the parenthetical contained in clause (ii) above, the total amount excluded will be added to one or both of the other two years included in the calculation as long as the amount so added does not result in a bonus with respect to any year exceeding 60% of your maximum bonus opportunity for such year, (y) if you have on the date of determination less than three full years of employment, the foregoing calculation, including any adjustment required by clause (x) above, shall be based on the average base salaries and regular year-end cash bonuses paid to you while so employed. Notwithstanding the foregoing, any base salary paid after December 31, 2009, and any bonus earned (or maximum bonus opportunity for) any period after that date, shall be disregarded.
Average Compensation means the aggregate of your highest three years’ total annual cash compensation paid to you by the Company, consisting of (i) base salaries and (ii) regular year-end cash bonuses paid with respect to the years in which such salaries are paid (the bonus with respect to any such year, however, only to be included in an amount not in excess of 60% of the base salary in effect at the end of such year), divided by three, provided, however, (x) if any portion of a bonus is excluded by the parenthetical contained in clause (ii) above, the total amount excluded will be added to one or both of the other two years included in the calculation as long as the amount so added does not result in a bonus with respect to any year exceeding 60% of the base salary in effect at the end of that year, and (y) if you have on the date of determination less than three full years of employment the foregoing calculation, including any adjustment required by clause (x) above, shall be based on the average base salaries and regular year-end cash bonuses paid to you while so employed.
Average Compensation means the annual average of (a) and (b) below:
Average Compensation means the average of a Participant's Compensation for the highest [. . . .] (not less than 3 nor more than 5) consecutive Plan Years. If a Participant's entire period of Service for the Employer is less than three consecutive years, Compensation is averaged on an annual basis over the Participant's entire period of Service.
Average Compensation shall, unless otherwise defined in the Adoption Agreement, mean the average of a Participant's Compensation for the three (3) consecutive Plan Years of Service ending in the current year or in any prior year that produce the highest average. Compensation is averaged on an annual basis over the participant's entire period of service.
Average Compensation means the Executive’s average annual compensation, including Base Pay and any annual and long-term incentive compensation earned, during the five (5) calendar years prior to the year in which a Termination occurs.