annualized includible compensation for the base period
(1) Annualized includible compensation for base period The term “annualized includible compensation for the base period” means the average annual compensation which— (A) was payable by the corporation with respect to which the change in ownership or control described in paragraph (2)(A) of subsection (b) occurs, and (B) was includible in the gross income of the disqualified individual for taxable years in the base period.