Common use of Amount of Benefit Clause in Contracts

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.

Appears in 12 contracts

Samples: Salary Continuation Agreement, Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/)

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Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A..

Appears in 8 contracts

Samples: Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date on during which the Disability is determined to have occurred (except during the first Plan Year, the Termination of Employment occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 one hundred percent (100%) of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A..

Appears in 7 contracts

Samples: Salary Continuation Agreement (Greer Bancshares Inc), Salary Continuation Agreement (Greer Bancshares Inc), Salary Continuation Agreement (Greer Bancshares Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit benefit set forth in on Schedule A for the Plan Year ending that ended immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.occurs.

Appears in 7 contracts

Samples: Supplemental Executive Retirement Agreement (Community Partners Bancorp), Supplemental Executive Retirement Agreement (Community Partners Bancorp), Supplemental Executive Retirement Agreement (Community Partners Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.

Appears in 7 contracts

Samples: Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during Termination of Employment occurs, plus any pro rata amount for the first Plan Year, the Year in which Termination of Employment occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 2.1 shall require the recalculation of this benefit amount as set forth in Schedule A.

Appears in 7 contracts

Samples: Salary Continuation Agreement (Temecula Valley Bancorp Inc), Salary Continuation Agreement (Temecula Valley Bancorp Inc), Salary Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in Schedule A for the Plan Year ending immediately prior to before the date on which the Disability is determined to have occurred (except during the first Plan YearTermination of Employment occurs. In its sole discretion, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent Bank’s board of the Accrual Balance. Any directors may increase in the annual benefit under this Section 2.1.1 2.3.1, but any increase shall require the recalculation of Schedule A.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West)

Amount of Benefit. The benefit under this Section section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in Schedule A for the Plan Year ending immediately prior to before the date on which the Separation from Service because of Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.occurs.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred Termination of Service occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of this benefit on Schedule A.

Appears in 6 contracts

Samples: Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in on Schedule A for the Plan Year ending ended immediately prior to before the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent . Beginning one year after payment of the Accrual Balance. Any increase in Disability benefit commences, the amount of the annual benefit under this Section 2.1.1 2.3.1 shall require the recalculation be increased annually at a rate of Schedule A.3% to offset inflation.

Appears in 5 contracts

Samples: Salary Continuation Agreement, Salary Continuation Agreement (BNC Bancorp), Salary Continuation Agreement (BNC Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in on Schedule A for the Plan Year ending ended immediately prior to before the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A..

Appears in 5 contracts

Samples: Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in Schedule A for the Plan Year ending immediately prior to before the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent Termination of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.Employment occurs.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan YearTermination of Employment occurs. However, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.A. The Disability Annual Benefit amount is determined by calculating a fixed annuity which is payable in 180 equal monthly installments, crediting interest on the unpaid balance of the Accrual Balance at an annual rate of 8.0%, compounded monthly.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in on Schedule A for the Plan Year ending ended immediately prior to before the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent without regard to vesting. Beginning one year after payment of the Accrual Balance. Any increase in Disability benefit commences, the amount of the annual benefit under this Section 2.1.1 2.3.1 shall require the recalculation be increased annually at a rate of Schedule A.2% to offset inflation.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 Schedule A shall require the recalculation of Schedule A.be recalculated each Plan Year to reflect current Compensation based on actual salary and bonus.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)Termination of Employment occurs, determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 2.1 shall require the recalculation of this benefit amount as set forth in Schedule A.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Temecula Valley Bancorp Inc), Salary Continuation Agreement (Temecula Valley Bancorp Inc), Salary Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit Installment benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred Executive’s Termination of Employment (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), . The Disability benefit is determined by vesting the Executive in 100 one hundred percent (100%) of the Accrual Balance. Any increase in , and continuing to apply the annual benefit under Section 2.1.1 shall require Discount Rate to the recalculation Accrual Balance for the duration of Schedule A.payments.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.occurs.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)Termination of Employment occurs, determined by vesting the Executive in 100 percent (100%) of the Accrual Balanceaccrual balance. Any increase Annual changes in the annual benefit under Section 2.1.1 Compensation shall require the recalculation of Schedule A.A in accordance with the Schedule A Calculations in Exhibit I.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Tib Financial Corp.), Salary Continuation Agreement (Tib Financial Corp.), Salary Continuation Agreement (Tib Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent Termination of the Accrual BalanceEmployment occurs. Any increase in the annual benefit under Section 2.1.1 2.1 shall require the recalculation of this benefit amount as set forth in Schedule A.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Temecula Valley Bancorp Inc), Salary Continuation Agreement (Temecula Valley Bancorp Inc), Salary Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual Installment set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred Termination of Employment (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase Normal Retirement Benefit described in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.2.1.1.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Beverly National Corp), Salary Continuation Agreement (Beverly National Corp), Salary Continuation Agreement (Beverly National Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit amount set forth in on Schedule A for determined as of the end of the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.preceding Disability.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to before the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1). In its sole discretion, determined by vesting the Executive in 100 percent Bank's board of the Accrual Balance. Any directors may increase in the annual benefit under this Section 2.1.1 2.3.1, but any increase shall require the recalculation of Schedule A.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Unizan Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 2.4 is the Disability Lump-sum Benefit Lump Sum set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred Termination of Employment (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual BalanceBalance for the Plan Year ending immediately prior to Termination of Employment. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of this benefit on Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Sierra Bancorp), Salary Continuation Agreement (Sierra Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent occurrence of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.such Disability.

Appears in 2 contracts

Samples: Salary Continuation Agreement (First Community Financial Corp), Salary Continuation Agreement (First Community Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.such Disability.

Appears in 2 contracts

Samples: Salary Continuation Agreement (First South Bancorp Inc), Salary Continuation Agreement (First South Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Lump Sum Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)Termination of Service occurs, determined by vesting the Executive Director in 100 one hundred percent (100%) percent of the Accrual Balance. Balance on Schedule A. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.

Appears in 2 contracts

Samples: Director Retirement Agreement (Oak Valley Bancorp), Director Retirement Agreement (Oak Valley Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, or an annuity (assuming the then current deferred compensation rate) with the value of the amount accrued in the Deferred Compensation Account upon disability, whichever is greater. The Bank’s Board of Directors, in its sole discretion, may, at any time, increase the benefit is the amount set forth for Plan Year 1)under this Section 2.3.1; however, determined by vesting the Executive in 100 percent of the Accrual Balance. Any any such increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Bank of Commerce Holdings), Salary Continuation Agreement (Bank of Commerce Holdings)

Amount of Benefit. The benefit under this Section 2.3 2.4 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent occurrence of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.such Disability.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Juniata Valley Financial Corp), Salary Continuation Agreement (Juniata Valley Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Lump Sum Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent Termination of the Accrual BalanceEmployment occurs. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (North Valley Bancorp), Salary Continuation Agreement (North Valley Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit annual benefit amount set forth in Schedule A for the Plan Year ending immediately prior to before the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Plan Year 1), determined by vesting . If the Executive in 100 percent Bank's board of the Accrual Balance. Any increase in directors increases the annual benefit under Section 2.1.1 2.1.1, the increase shall require the recalculation of the Disability annual benefit on Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc)

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Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan Year, the Termination of Employment occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase Normal Retirement Benefit described in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.2.1.1.

Appears in 2 contracts

Samples: Salary Continuation Agreement (New Peoples Bankshares Inc), Salary Continuation Agreement (New Peoples Bankshares Inc)

Amount of Benefit. The benefit under this Section 2.3 2.4 is the Disability Lump-sum Benefit Annual Installment set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual BalanceNormal Retirement Benefit set forth in Section 2. 1.1. Any An increase in the annual benefit under Section 2.1.1 shall will require the recalculation of this benefit in Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Cornerstone Bancorp Inc), Salary Continuation Agreement (Cornerstone Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1). The Bank's Board of Directors, determined by vesting the Executive in 100 percent of the Accrual Balance. Any its sole discretion, may increase in the annual benefit under this Section 2.1.1 2. 3.1. However, any increase shall require the recalculation of Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (American River Holdings), Salary Continuation Agreement (American River Holdings)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in on Schedule A for A. For any Disability which occurs other than at the Plan Year ending immediately prior to end of the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is shall be pro rated to take into account the amount set forth for Executive’s service during such partial Plan Year 1), determined by vesting dividing the Executive difference in 100 percent the balance at the end of the Accrual Balancecurrent Plan Year and the balance at the end of the preceding Plan Year into twelve (12) and multiplying this amount by the number of completed months since the last complete Plan Year. Any increase in This amount will be added to the annual benefit under Section 2.1.1 shall require Annual Benefit amount at the recalculation end of the preceding Plan Year on Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to before the date on which the Disability is determined to have occurred Termination of Employment occurs (except that during the first Plan Year, Year the benefit is the amount set forth for Plan Year 1). In its sole discretion, determined by vesting the Executive in 100 percent Bank's Board of the Accrual Balance. Any Directors may increase in the annual benefit under this Section 2.1.1 2.3.1, but any increase shall require the recalculation of Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Premierwest Bancorp), Salary Continuation Agreement (Premierwest Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Lump Sum Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 one hundred percent (100%) of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Oak Valley Bancorp), Salary Continuation Agreement (Oak Valley Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit Lump Sum set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred Termination of Employment (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual BalanceBalance for the Plan Year ending immediately prior to Termination of Employment. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of this benefit on Schedule A.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Sierra Bancorp), Salary Continuation Agreement (Sierra Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan YearTermination of Employment occurs. However, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.A. The Disability Annual Benefit amount is determined by calculating a fixed annuity which is payable in 240 equal monthly installments, crediting interest on the unpaid balance of the Accrual Balance at an annual rate of 8.0%, compounded monthly.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in on Schedule A for the Plan Year ending ended immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Yearoccurs. Additionally, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 amount shall require be increased by a pro-rated amount relative to the recalculation Executive’s service during the partial Plan Year in which Separation from Service takes place. This amount will be added to the Annual Benefit amount at the end of the preceding Plan Year on Schedule A.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Riverview Financial Corp), Supplemental Executive Retirement Plan Agreement (Riverview Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during Termination of Employment occurs, plus any pro rata amount for the first Plan Year, the Year in which Termination of Employment occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive one hundred percent (100%) in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 2.1 shall require the recalculation of this benefit as set forth in Schedule A.

Appears in 1 contract

Samples: Salary Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the of Disability. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 one hundred percent (100%) of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.Account Value.

Appears in 1 contract

Samples: Salary Continuation Agreement (Fidelity Federal Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date on in which the Disability is determined to have occurred (except during the first Plan YearTermination of Employment occurs. However, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.A. The Disability Annual Benefit amount is determined by calculating a fixed annuity which is payable in ____ equal monthly installments, crediting interest on the unpaid balance of the Accrual Balance at an annual rate of 8.0%, compounded monthly.

Appears in 1 contract

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, or an annuity (assuming the then current deferred compensation rate) with the value of the amount accrued in the Deferred Compensation Account upon disability, whichever is greater. The Bank’s Board of Directors, in its sole discretion, may, at any time, increase the benefit is the amount set forth for Plan Year 1)under this Section 2.3.1; however, determined by vesting the Executive in 100 percent of the Accrual Balance. Any any such increase in the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.A. Final Salary Continuation Agreement

Appears in 1 contract

Samples: Salary Continuation Agreement (Bank of Commerce Holdings)

Amount of Benefit. The benefit under this Section 2.3 2.2 is the Disability Lump-sum Benefit set forth in on Schedule A for the Plan Year ending ended immediately prior to the date on in which the Separation from Service due to Disability is determined to have occurred (except during the first Plan Yearoccurs. Additionally, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 amount shall require be increased by a pro-rated amount relative to the recalculation Executive’s service during the partial Plan Year in which Separation from Service takes place. This amount will be added to the Annual Benefit amount at the end of the preceding Plan Year on Schedule A.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Agreement (Peoples Financial Services Corp.)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit benefit set forth in on Schedule A for the Plan Year ending that ended immediately prior to Disability. Additionally, this benefit amount shall be increased by a pro-rated amount relative to the date on which the Disability is determined to have occurred (except Executive’s service during the first Plan Year, the benefit is the amount set forth for partial Plan Year 1), determined by vesting the Executive in 100 percent which Disability takes place. Section 2.4.1 of the Accrual Balance. Any increase in Agreement shall be deleted and replaced by the annual benefit under Section 2.1.1 shall require the recalculation of Schedule A.following:

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Two River Bancorp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Annual Benefit amount set forth in on Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1). ARH's Board of Directors, determined by vesting the Executive in 100 percent of the Accrual Balance. Any its sole discretion, may increase in the annual benefit under this Section 2.1.1 2. 3.1. However, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Salary Continuation Agreement (American River Holdings)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in on Schedule A attached hereto for the Plan Year ending immediately prior to the date that Disability occurs. (The Disability Benefit displayed on which the Disability Schedule A is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent 100% of the Accrual Balance. Any increase in balance increased by adding interest at the annual benefit Discount Rate, compounded monthly, to the Accrual Balance from the date that the Disability occurs until payment of the Disability Benefit under Section 2.1.1 shall require the recalculation of Schedule A.2.3.2.)

Appears in 1 contract

Samples: Salary Continuation Agreement (Synovus Financial Corp)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date on which the Disability is determined to have occurred (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)Termination of Service occurs, determined by vesting the Executive Director in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 shall would require the recalculation of the Disability benefit on Schedule A.

Appears in 1 contract

Samples: Director Retirement Agreement (Cooperative Bankshares Inc)

Amount of Benefit. The benefit under this Section 2.3 is the Disability Lump-sum Benefit set forth in on Schedule A for the Plan Year ending ended immediately prior to the date on in which the Separation from Service due to Disability is determined to have occurred (except during the first Plan Yearoccurs. Additionally, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in 100 percent of the Accrual Balance. Any increase in the annual benefit under Section 2.1.1 amount shall require be increased by a pro-rated amount relative to the recalculation Executive’s service during the partial Plan Year in which Separation from Service takes place. This amount will be added to the Annual Benefit amount at the end of the preceding Plan Year on Schedule A.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Agreement (Penseco Financial Services Corp)

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