Accrued Liability Balance. For the purposes of this Agreement, the term “Accrued Liability Balance” means the liability that should be accrued by the Bank, under Generally Accepted Accounting Principles (“GAAP”), for the Bank’s obligation to the Director under this Agreement, by applying Accounting Principles Board Opinion Number 12 (“APB 12”) as amended by Statement of Financial Accounting Standards Number 106 (“FAS 106”) and the Discount Rate. Any one of a variety of amortization methods may be used to determine the Accrual Balance; however, once chosen, the method must be consistently applied.
Accrued Liability Balance. For the purposes of this Agreement, the “Accrued Liability Balance” (“ALB”) means the liability accrued by the Bank in accordance with generally accepted accounting principles in order to fully fund the future benefit payments associated with this Agreement. The ALB shall reflect Annual Contribution Amounts made to the ALB each Service Period based on the satisfaction of performance criteria established in the Bank Performance Plan (as defined in Paragraph 1.7 below). Annual Contribution Amounts shall be reflected in the ALB within thirty (30) days of the end of any given Service Period. The ALB shall be credited with interest as defined below in Paragraph 1.2.
Accrued Liability Balance. For the purposes of this Agreement, means the liability that should be accrued by the Company, under Generally Accepted Accounting Principles (“GAAP”), for the Company’s obligation to the Executive under this Agreement, by applying Accounting Principles Board Opinion Number 12 (“APB 12”) as amended by Statement of Financial Accounting Standards Number 106 (“FAS 106”) and the Discount Rate. Any one of a variety of amortization methods may be used to determine the Accrual Balance. However, once chosen, the method must be consistently applied.
Accrued Liability Balance. The term “Accrued Liability Balance” shall mean the amount that has been accrued by the Employer on its financial statements to fund the retirement benefits expense of the Employee as of the end of the month preceding the Employee’s termination of employment.
Accrued Liability Balance. The term “Accrued Liability Balance” shall mean the amount accrued by the Bank to fund the future benefit expense associated with this Agreement, as of the end of the month preceding Executive’s Separation From Service. The Bank shall account for this benefit using Generally Accepted Accounting Principles, regulatory accounting guidance of the Bank’s primary federal regulator, and other applicable accounting guidance, including but not limited to Accounting Principles Board Opinion Number 12 (“APB 12”) as amended by Statement of Financial Accounting Standards Number 106 (“FAS 106”) and the Discount Rate. Accordingly, the Bank shall establish a liability retirement account for Executive into which appropriate accruals shall be made using the applicable Discount Rate. Any one of a variety of amortization methods may be used to determine the Accrual Balance. However, once chosen, the method must be consistently applied. For illustrative purposes ONLY, a sample table showing possible prospective Accrued Liability Balance numbers shall be attached hereto as Exhibit “A”; however this Exhibit A is merely a sample of the potential Accrued Liability Balance based on a future given date and using a sample Discount Rate. The actual Accrued Liability Balance will be determined based on the actual Discount Rates in effect over time.
Accrued Liability Balance. For the purposes of this Agreement, the “Accrued Liability Balance” means the liability accrued by the Bank to fund the future benefit payments associated with this Agreement. The Bank shall accrue the liability associated with this benefit using Generally Accepted Accounting Principles, regulatory accounting guidance of the Bank’s primary federal regulator, and other applicable accounting guidance. The discount rate employed shall be periodically adjusted by the Bank and will be within reasonable standards according to GAAP. Any one of a variety of amortization methods may be used to determine the Accrued Liability Balance; however, once chosen, the method must be consistently applied.
Accrued Liability Balance. For the purposes of this Agreement, the term “Accrued Liability Balance” shall mean the amount that has been accrued by the Bank on its financial statements to fund the retirement benefits expense of the Director as of the end of the month preceding Director’s termination of employment. The Bank shall account for this benefit using the regulatory accounting principles of the Bank’s primary Federal Regulator. The Bank shall establish an accrued liability retirement account for the Director into which appropriate reserves shall be accrued.
Accrued Liability Balance. The “Accrued Liability Balance” (“ALB”) shall mean the liability accrued by the Bank in order to fully fund the future benefit payments associated with this Agreement. In general, the ALB shall reflect “Minimum Monthly Contributions” (addressed in Paragraphs 1.3 and 4.1) and “Annual Incentive Contributions” (addressed in Paragraphs 1.3 and 4.2). The Accrued Liability Balance shall reflect all Minimum Monthly Contributions within fifteen (15) days of the month’s end, or, in the case of an Annual Incentive Contribution, by no later than sixty (60) days following the close of a given Service Period year.
Accrued Liability Balance. Executive shall receive a lump sum amount equal to the Accrued Liability Balance. The Accrued Liability Balance shall be paid in one (1) lump sum on the first (1st) day of the first (1st) month following Disability.
Accrued Liability Balance. For the purposes of this Agreement, the “Accrued Liability Balance” or “ALB” means the liability accrued by the Bank under Generally Accepted Accounting Principles (“GAAP”) to fund the Bank’s obligation to Executive under this Agreement. The discount rate employed shall be determined by an actuary appointed by the Bank, and such rate shall be within reasonable standards according to GAAP. Furthermore, any one of a variety of amortization methods may be used to determine the Accrual Balance; however, once chosen, the method must be consistently applied.
