Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).
Annual Benefit. The term "Annual Benefit" shall mean an annual sum of Fifty Thousand Dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5, 6 and 7 hereof; (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) required in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
Annual Benefit. The term "Annual Benefit" shall mean an annual sum of Thirty-Six Thousand Dollars ($36,000.00) multiplied by the Applicable Percentage (defined below) and then reduced to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5, 6 and 7 hereof;
Annual Benefit. The term “Annual Benefit” shall mean the amount equal to the product of the Executive’s Final Average Annual Compensation times the Benefit Level Percentage times the Applicable Percentage, which amount shall be reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
Annual Benefit. The initial annual benefit under this Section 2.2 is the amount shown in the Early Retirement column of Schedule A for the month and year in which Termination of Employment occurs.
Annual Benefit. The term “Annual Benefit” shall mean an annual sum of Seventy-five thousand dollars ($75,000), increased by 3% on the anniversary of the date of this Agreement until the date of the first payment hereunder, multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).
Annual Benefit. The term "Annual Benefit" shall mean an annual sum of One Hundred Ten Thousand Dollars ($110,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
Annual Benefit. The annual benefit under this Section 2.4 is the amount shown in the Disability column of Schedule A for the month and year in which Termination of Employment occurs.
Annual Benefit. The initial annual benefit under this Section 2.5.1 is the initial annual Normal Retirement Benefit described in Section 2.1.1.
Annual Benefit. The annual benefit under this Section 2.6 is the amount shown in the Change of Control column of Schedule A for the month and year in which Change of Control occurs.
