Common use of Amount of Benefit Clause in Contracts

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 10 contracts

Samples: Dollar Agreement, www.sec.gov, Director Retirement Agreement (Sierra Bancorp)

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Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 18,000 (Twenty-five Eighteen Thousand Dollars). The CompanyBank’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 7 contracts

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

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 10,000 (Twenty-five Ten Thousand Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 6 contracts

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

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Thousand Dollars). The Company’s Board of Directors85,000, as reflected in Schedule A. In its sole discretion, the Bank’s board of directors may increase the annual benefit under this Section 2.1.1; however, but any increase shall require the recalculation of Schedule A.

Appears in 5 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 annual benefit under this Section 2.1 is $25,000 15,500 (Twenty-five Fifteen Thousand Five Hundred Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 4 contracts

Samples: Elgin Financial Savings Bank (Efc Bancorp Inc), Elgin Financial Savings Bank Director Retirement Agreement (Efc Bancorp Inc), Elgin Financial Savings Bank (Efc Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 100,000 (Twenty-five One Hundred Thousand Dollars). The CompanyBank’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 3 contracts

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

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 100,000 (Twenty-five One Hundred Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 3 contracts

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

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 50,000 (Twenty-five Thousand DollarsFifty thousand dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 2 contracts

Samples: Continuation Agreement (FFW Corp), Continuation Agreement (FFW Corp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 36,000 (TwentyThirty-five Thousand Dollarssix thousand dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 2 contracts

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

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 60,000 (Twenty-five Sixty Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 2 contracts

Samples: Canyon National Bank (Canyon Bancorp), Canyon National Bank (Canyon Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 41,900 (TwentyForty-five Thousand Dollarsone thousand nine hundred dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 100,700 (Twenty-five One Hundred Thousand Seven Hundred Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Cornerstone Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is twenty-one thousand six hundred and twenty-four dollars ($25,000 21,624), increased by two percent (Twenty-five Thousand Dollars)2.0%) each successive Plan Year until Termination of Employment. The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Summit National (Summit Financial Corp)

Amount of Benefit. The annual benefit under this Section 2.1 is twelve thousand dollars ($25,000 (Twenty-five Thousand Dollars12,000). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (Oak Valley Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 75,000 (TwentySeventy-five Five Thousand DollarsDollars and no/100). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 60,000 (Twenty-five Sixty Thousand Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Fidelity Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 76,500 (TwentySeventy-six thousand five Thousand Dollarshundred dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Nine Thousand DollarsFive Hundred Ninety-Seven Dollars ($29,597). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A. Schedule A of the Agreement shall be deleted in its entirety and replaced by the attached new Schedule A.

Appears in 1 contract

Samples: West Pointe Bancorp Inc

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 53,900 (TwentyFifty-five Thousand Dollarsthree thousand nine hundred dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 49,900 (TwentyForty-five Thousand Dollarsnine thousand nine hundred dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 38,812 (Twenty-five Thirty Eight Thousand Eight Hundred Twelve Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: New Peoples (New Peoples Bankshares Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is twenty two thousand nine hundred sixty six dollars ($25,000 (Twenty-five Thousand Dollars22,966). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 75,000 (TwentySeventy-five Thousand Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Fidelity Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is twenty-nine thousand five hundred and sixty-two dollars ($25,000 29,562), increased by two percent (Twenty-five Thousand Dollars)2.0%) each successive Plan Year until Termination of Employment. The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Summit National (Summit Financial Corp)

Amount of Benefit. The annual benefit under this Section 2.1 is thirty two thousand six hundred twelve dollars ($25,000 (Twenty-five Thousand Dollars32,612). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 100,000 (Twenty-five One Hundred Thousand DollarsDollars and no/100). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is thirty two thousand six hundred sixty dollars ($25,000 (Twenty-five Thousand Dollars32,660). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is fifty eight thousand three hundred twenty nine dollars ($25,000 (Twenty-five Thousand Dollars58,329). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is twenty thousand four hundred thirteen dollars ($25,000 (Twenty-five Thousand Dollars20,413). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 75,000 (TwentySeventy-five Five Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Sierra Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is eighty-seven thousand five hundred and seven dollars ($25,000 87,507), increased by two percent (Twenty-five Thousand Dollars)2.0%) each successive Plan Year until Termination of Employment. The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Summit National (Summit Financial Corp)

Amount of Benefit. The annual benefit under this Section 2.1 is twelve thousand dollars ($25,000 (Twenty-five Thousand Dollars12,000). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Oak Valley Community Bank (Oak Valley Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 36,000 (TwentyThirty-five six Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

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

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 75,000 (TwentySeventy-five Five Thousand DollarsDollars and no/100). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 75,000 (TwentySeventy-five Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Sierra Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 70,000 (Twenty-five Seventy Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (FNB Bancorp/Ca/)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 140,700 (Twenty-five One Hundred Forty Thousand Seven Hundred Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (FNB Bancorp/Ca/)

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Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Thousand Dollars)184,000. The Company’s Board of Directors, in its sole discretion, Company may increase the annual benefit under this Section 2.1.1; however, any 2.1 at the sole and absolute discretion of the Company's Board of Directors. Any increase in the annual benefit shall require the recalculation of Schedule A.all the amounts on Schedules A and B attached hereto. The annual benefit amounts of Schedules A and B are calculated by amortizing the Projected Accrued Benefit, using the interest method of accounting, an 8% discount rate, monthly compounding and monthly payments.

Appears in 1 contract

Samples: Continuation Agreement (Lake Ariel Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Thirty-eight Thousand Eight Hundred Twenty-five Thousand Dollarsfour Dollars ($38,824). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.12.1.; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 50,000 (Twenty-five Fifty Thousand DollarsDollars and no/100). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 12,000 (Twenty-five Twelve Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Sierra Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 47,000 (TwentyForty-five seven Thousand Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Fidelity Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 100,000 (Twenty-five Thousand DollarsOne hundred thousand dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (FFW Corp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Thousand Dollars)105,000. The Company’s Board of Directors, in its sole discretion, Company may increase the annual benefit under this Section 2.1.1; however, any 2.1 at the sole and absolute discretion of the Company's Board of Directors. Any increase in the annual benefit shall require the recalculation of Schedule A.all the amounts on Schedules A and B attached hereto. The annual benefit amounts of Schedules A and B are calculated by amortizing the Projected Accrued Benefit, using the interest method of accounting, an 8% discount rate, monthly compounding and monthly payments.

Appears in 1 contract

Samples: Continuation Agreement (Lake Ariel Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is thirty one thousand three hundred seventy two dollars ($25,000 (Twenty-five Thousand Dollars31,372). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 108,900 (Twenty-five One Hundred Eight Thousand Nine Hundred Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Cornerstone Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is Seventy-One Thousand Nine Hundred Thirty-three Dollars ($25,000 (Twenty-five Thousand Dollars71,933). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A. Schedule A of the Agreement shall be deleted in its entirety and replaced by the attached new Schedule A.

Appears in 1 contract

Samples: West Pointe Bancorp Inc

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 113,200 (Twenty-five One Hundred Thirteen Thousand Two Hundred Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Cornerstone Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 85,000 (TwentyEighty-five Five Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (Oak Valley Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is twenty five thousand two hundred sixty nine dollars ($25,000 (Twenty-five Thousand Dollars25,269). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 100,000 (Twenty-five One Hundred Thousand DollarsDollars and no/100). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 55,000 (TwentyFifty-five Five Thousand DollarsDollars and no/100). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 41,000 (TwentyForty-five one Thousand Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Fidelity Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 64,300 (TwentySixty-five Thousand Dollarsfour thousand three hundred dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any an increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 55,000 (TwentyFifty-five Five Thousand DollarsDollars and no/100). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Codorus Valley Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Thousand $ ( Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (Oak Valley Bancorp)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 (Twenty-five Thousand Dollars)103,000. The Company’s Board of Directors, in its sole discretion, Company may increase the annual benefit under this Section 2.1.1; however, any 2.1 at the sole and absolute discretion of the Company's Board of Directors. Any increase in the annual benefit shall require the recalculation of Schedule A.all the amounts on Schedules A and B attached hereto. The annual benefit amounts of Schedules A and B are calculated by amortizing the Projected Accrued Benefit, using the interest method of accounting, an 8% discount rate, monthly compounding and monthly payments.

Appears in 1 contract

Samples: Continuation Agreement (Lake Ariel Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 96,800 (TwentyNinety-five six Thousand Eight Hundred Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Continuation Agreement (Cornerstone Bancorp Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 59,063 (Twenty-five Fifty Nine Thousand Sixty Three Dollars). The Company’s 's Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (New Peoples Bankshares Inc)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 122,600 (One Hundred Twenty-five Two Thousand Six Hundred Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (FNB Bancorp/Ca/)

Amount of Benefit. The annual benefit under this Section 2.1 is $25,000 19,200 (Twenty-five Nineteen Thousand Two Hundred Dollars). The Company’s 's Board of Directors, in at its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the recalculation of Schedule A.

Appears in 1 contract

Samples: Agreement (Cooperative Bankshares Inc)

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