Common use of Annual Benefit Clause in Contracts

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).

Appears in 5 contracts

Samples: Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares), Salary Continuation Agreement (Western Sierra Bancorp)

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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).

Appears in 3 contracts

Samples: Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty thousand dollars Sixty-Two Thousand Dollars ($50,00062,000) 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.e.g., FICA, FUTA, SDI).

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement (Plumas Bancorp), Executive Salary Continuation Agreement (Plumas Bancorp)

Annual Benefit. The term "Annual Benefit” shall mean " means an annual sum of fifty seventy thousand dollars ($50,00070,000) 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 or (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.e.g., FICA, FUTA, SDI).

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty thousand dollars One Hundred Ten Thousand Dollars ($50,000110,000) 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.e.g., FICA, FUTA, SDI).

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement (Plumas Bancorp), Executive Salary Continuation Agreement (Hemet Bancorp)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty thousand dollars Forty-Five Thousand Dollars ($50,00045,000) 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.e.g., FICA, FUTA, SDI).

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement (Plumas Bancorp), Executive Salary Continuation Agreement (Plumas Bancorp)

Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty sixty-two thousand dollars ($50,00062,000) 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.e.g., FICA, FUTA, SDI).

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement, Executive Salary Continuation Agreement (Plumas Bancorp)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty thousand dollars ($50,000100,000) 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).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (United Security Bancshares)

Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty thirty thousand dollars ($50,00030,000) 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).

Appears in 1 contract

Samples: Salary Continuation Agreement (Western Sierra Bancorp)

Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty eighty thousand dollars ($50,00080,000) 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.e.g., FICA, FUTA, SDI).. "

Appears in 1 contract

Samples: Salary Continuation Agreement (Plumas Bancorp)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty one hundred forty thousand dollars ($50,000140,000) 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.e.g., FICA, FUTA, SDI).. "

Appears in 1 contract

Samples: Salary Continuation Agreement (Plumas Bancorp)

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.e.g., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Pacific Community Banking Group)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty thousand dollars Seventy-Five Thousand Dollars ($50,00075,000) 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.e.g., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Plumas Bancorp)

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Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty seventy five thousand dollars ($50,000) 75,000), multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii11) 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.e.g., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Centennial First Financial Services)

Annual Benefit. The term “Annual Benefit” shall mean an the annual sum of fifty ninety-two thousand five hundred fifteen dollars ($50,00092,515) multiplied by the Applicable Percentage (defined below) and then ), 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 (eg., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Supplemental Compensation Agreement (Bank Holdings)

Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty one hundred and twenty-five thousand dollars ($50,000125,000) 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.e.g., FICA, FUTA, SDI).. "

Appears in 1 contract

Samples: Salary Continuation Agreement (Plumas Bancorp)

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.e.g., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (United Security Bancshares)

Annual Benefit. The term "Annual Benefit" shall mean an annual sum of fifty thousand dollars Sixty-two Thousand Dollars ($50,00062,000) 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.e.g., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Plumas Bancorp)

Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty one hundred thousand dollars ($50,000100,000) 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).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (United Security Bancshares)

Annual Benefit. The term “Annual Benefit” shall mean an annual sum of fifty thousand dollars Sixty-two Thousand Dollars ($50,00062,000) 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.e.g., FICA, FUTA, SDI).

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Plumas Bancorp)

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