Common use of Amount of Benefit Clause in Contracts

Amount of Benefit. The benefit under this Section 2.4 is the Change in Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.

Appears in 11 contracts

Samples: Salary Continuation Agreement (Community Capital Corp /Sc/), 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 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

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 2.4 is the Change in of Control Annual Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)occurs, determined by vesting the Executive one hundred percent (100%) in the present value of the stream of payments of the Normal Retirement Benefit described in Section 2.1.1 calculated 2.1. Any increase in the annual benefit under Section 2.1 shall require the recalculation of this benefit as if the Executive had remained employed by the Company until the Normal Retirement Age.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 2.4 is the Change in of Control Annual Benefit annual Installment set forth in on Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 6 contracts

Samples: Supplemental Executive Retirement Agreement (Efc Bancorp Inc), Supplemental Executive Retirement Agreement (Efc Bancorp Inc), Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)occurs, determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if Level for the Executive had remained employed by the Company until the Normal Retirement Agecurrent Plan Year.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Vib Corp), Salary Continuation Agreement (Vib Corp), Salary Continuation Agreement (Vib Corp)

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in Control Annual Benefit set forth in on Schedule A for the Plan Year ending that ended immediately prior to the date in on which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until present value of the Normal Retirement AgeBenefit, discounted using a 4.00% discount rate, which is the rate used to project salary increases.

Appears in 5 contracts

Samples: Supplemental Executive Retirement Agreement (New North Penn Bancorp Inc), Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.), Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Premier Commercial Bancorp), Salary Continuation Agreement (Premier Commercial Bancorp), Salary Continuation Agreement (Premier Commercial Bancorp)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit amount set forth in Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Ageoccurs.

Appears in 4 contracts

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

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)occurs, determined by vesting the Executive in the Normal Retirement Benefit described Accrual Balance. Any increase in the annual benefit under Section 2.1.1 calculated 2.1 shall require the recalculation of this benefit as if the Executive had remained employed by the Company until the Normal Retirement Age.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 2.4 is the Change in Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to during which the date Change in which Termination of Employment occurs (except during the first Plan Year, the Control occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.

Appears in 4 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 2.4 is the Change in of Control Annual Benefit Installment benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in which Executive’s Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), . The Change of Control benefit is determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

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 2.4 is the Change in of Control Annual Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)occurs, determined by vesting the Executive in the present value of the stream of payments of the Normal Retirement Benefit described in Section 2.1.1 calculated 2.1. Any increase in the annual benefit under Section 2.1 shall require the recalculation of this benefit as if the Executive had remained employed by the Company until the Normal Retirement Age.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 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)occurs, determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1. 1. An increase in the annual benefit under Section 2.1.1 calculated as if shall require the Executive had remained employed by recalculation of the Company until the Normal Retirement Age.Change of Control benefit on Schedule A.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Madison County Financial, Inc.), Salary Continuation Agreement (Madison County Financial, Inc.), Salary Continuation Agreement (Madison County Financial, Inc.)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit annual installment set forth in on Schedule A for the Plan Year ending immediately prior to the date in which 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 the projected Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 3 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 2.4 is the Change in of Control Annual Benefit annual Installment set forth in on Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

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 annual benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.Change of Control benefit set forth on such Schedule A.

Appears in 3 contracts

Samples: Salary Continuation Plan (Park National Corp /Oh/), Salary Continuation Plan (Park National Corp /Oh/), Salary Continuation Plan (Vision Bancshares Inc)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit amount set forth in on Schedule A for the Plan Year ending immediately prior to the date in which 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 one hundred percent (100%) in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 3 contracts

Samples: Salary Continuation Agreement (FNB Bancorp/Ca/), Salary Continuation Agreement (FNB Bancorp/Ca/), Salary Continuation Agreement (FNB Bancorp/Ca/)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment Service occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive Director in the Normal Retirement Benefit described Amount. Any increase in Section 2.1.1 calculated as if the Executive had remained employed by Benefit Amount would require the Company until recalculation of the Normal Retirement Age.Change of Control Annual Benefit on Schedule A.

Appears in 2 contracts

Samples: Retirement Agreement, Retirement Agreement (Dutchfork Bancshares Inc)

Amount of Benefit. The benefit benefit, under this Section 2.4 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which 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 one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1. Any increase in the annual benefit under Section 2.1.1 calculated as if would require the Executive had remained employed by recalculation of the Company until the Normal Retirement Age.Change of Control 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 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to during which the date in which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.

Appears in 2 contracts

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

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Amount of Benefit. The annual benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement AgeProjected Benefit.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Heartland Bancshares Inc/Fl), Salary Continuation Agreement (Heartland Bancshares Inc/Fl)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described Amount. Any increase in Section 2.1.1 calculated as if the Executive had remained employed by Benefit Amount would require the Company until recalculation of the Normal Retirement Age.Change of Control Annual Benefit on Schedule A.

Appears in 2 contracts

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

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to during which the date in which Executive’s Termination of Employment occurs (except during occurs; provided however, that in no event shall such annual benefit be less than the first Plan Year, Change of Control Benefit set forth on the Exhibit A attached to the Second Amendment to the Agreement. The benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred (100%) in the Normal Retirement Change of Control Benefit described in this Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.5.1.

Appears in 2 contracts

Samples: Salary Continuation Plan (Park National Corp /Oh/), Salary Continuation Plan (Park National Corp /Oh/)

Amount of Benefit. The benefit under this Section 2.4 is the Change in Control Annual Benefit amount set forth in on Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment the Separation from Service occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined except by vesting the Executive Director one hundred percent (100%) in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 2 contracts

Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)

Amount of Benefit. The benefit under this Section 2.4 is the Change in Change-in-Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to before the date in on which 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 the Normal Retirement Benefit described Age Accrual Balance ($________), without reduction for the time value of money or other discount. The Bank's Board of Directors may, in its sole discretion, increase the benefit under this Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.2.4.1, but any increase shall require recalculation of Schedule A.

Appears in 1 contract

Samples: Salary Continuation Agreement (Unb Corp/Oh)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 1 contract

Samples: Salary Continuation Agreement (New Peoples Bankshares Inc)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the annual Change in of Control Annual Benefit Installment as defined and set forth in on Schedule A for the Plan Year month ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)occurs, determined by vesting the Executive in the Normal Retirement Benefit described set forth in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.Age had been reached as of the date of the Change of Control. An increase in the annual benefit under Section 2.1.1 prior to Normal Retirement Age would require the recalculation of this Change of Control benefit on Schedule A.

Appears in 1 contract

Samples: Executive Bonus Agreement (East West Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)Service occurs, determined by vesting the Executive Director in the present value of the stream of payments of the Normal Retirement Benefit described in Section 2.1.1. Any increase in the annual benefit under Section 2.1.1 calculated as if would require the Executive had remained employed by recalculation of the Company until the Normal Retirement Age.Change of Control benefit on Schedule A.

Appears in 1 contract

Samples: Director Retirement Agreement (Cooperative Bankshares Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Lump Sum set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1)Service occurs, determined by vesting the Executive Director in the present value of the stream of payments of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.

Appears in 1 contract

Samples: Director Retirement Agreement (Cooperative Bankshares Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Yearoccurs. This benefit, the benefit as provided in Schedule A, is the amount set forth for Plan Year 1), determined by vesting the Executive in 100% of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 1 contract

Samples: Salary Continuation Agreement (Central Federal Corp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement AgeAccount Value.

Appears in 1 contract

Samples: Salary Continuation Agreement (Fidelity Federal Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 -Benefit Amount calculated as if the Executive had remained employed by in the employment of the Company until the Normal Retirement Age.

Appears in 1 contract

Samples: Salary Continuation Agreement (Southern Community Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in Control Annual Benefit of Controlannual Installment set forth in on Schedule A for the Plan Year ending immediately prior to the date in which 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

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