Common use of Applicable Percentage Clause in Contracts

Applicable Percentage. The term “Applicable Percentage” shall mean that percentage adjacent to a calendar period listed on Schedule “A” attached hereto, which percentage shall remain in effect until an adjustment occurs on each succeeding calendar period during the term of service as a member of the Board of Directors of the Bank. Notwithstanding the foregoing or the percentages set forth on Schedule “A,” but subject to all other terms and conditions set forth herein, the “Applicable Percentage” shall be: (i) provided payments have not yet begun hereunder, one hundred percent (100%) upon termination of service described in subparagraph 5.4 pursuant to a “Change in Control” as defined in subparagraph 1.4 below, or the Director’s death, or Disability as defined in subparagraph 1.6 below, which death or Disability occurs prior to termination of service; and (ii) notwithstanding subclause (i) of this subparagraph 1.2, zero percent (0%) in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary. Furthermore, notwithstanding the foregoing, or anything contained in this Agreement to the contrary, in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary: (1) the Director’s estate or designated beneficiary shall no longer be entitled to receive any of the amounts payable under the terms of this Agreement, and (2) the Bank shall have the right to recover from the Director’s estate all of the amounts paid to the Director’s estate (with respect to amounts paid prior to the Director’s death or paid to the Director’s estate) or designated beneficiary (with respect to amounts paid to the designated beneficiary) pursuant to the terms of this Agreement prior to and after the Director’s death.

Applicable Percentage. The term “Applicable Percentage” shall mean that percentage adjacent to a calendar period listed on Schedule “A” attached hereto, hereto which percentage shall remain in effect until an adjustment occurs on each succeeding is adjacent to the number of calendar period during years which have elapsed from the term date of the Director’s commencement of service as a member of the Board of Directors of the BankBank and ending on the date payments are to first begin under the terms of this Agreement. Notwithstanding the foregoing or the percentages set forth on Schedule “A,” but subject to all other terms and conditions set forth herein, the “Applicable Percentage” shall be: ; (i) provided payments have not yet begun hereunder, one hundred percent (100%) upon termination the occurrence of service described in subparagraph 5.4 pursuant to a “Change in Control” as defined in subparagraph 1.4 below, or the Director’s death, or Disability as defined in subparagraph 1.6 below, which death or Disability occurs prior to termination of service; and (ii) notwithstanding subclause (i) of this subparagraph 1.2, zero percent (0%) in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary. Furthermore, notwithstanding the foregoing, or anything contained in this Agreement to the contrary, in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary: (1I) the Director’s estate or designated beneficiary shall no longer be entitled to receive any of the amounts payable under the terms of this Agreement, and (2) the Bank shall have the right to recover from the Director’s estate all of the amounts paid to the Director’s estate (with respect to amounts paid prior to the Director’s death or paid to the Director’s estate) or designated beneficiary (with respect to amounts paid to the designated beneficiary) pursuant to the terms of this Agreement prior to and after the Director’s death.

Applicable Percentage. The term “Applicable Percentage” shall mean that percentage adjacent to a calendar period listed on Schedule “A” attached hereto, hereto which percentage shall remain in effect until an adjustment occurs on each succeeding is adjacent to the number of calendar period during years which have elapsed from the term date of the Director’s commencement of service as a member of the Board of Directors of the BankBank and ending on the date payments are to first begin under the terms of this Agreement. Notwithstanding the foregoing or the percentages set forth on Schedule “A,” but subject to all other terms and conditions set forth herein, the “Applicable Percentage” shall be: (i) provided payments have not yet begun hereunder, one hundred percent (100%) upon termination the occurrence of service described in subparagraph 5.4 pursuant to a “Change in Control” as defined in subparagraph 1.4 below, or the Director’s death, or Disability as defined in subparagraph 1.6 below, which death or Disability occurs prior to termination of service; and (ii) notwithstanding subclause (i) of this subparagraph 1.2, zero percent (0%) in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary. Furthermore, notwithstanding the foregoing, or anything contained in this Agreement to the contrary, in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary: beneficiary (1) the Director’s estate or designated beneficiary shall no longer be entitled to receive any of the amounts payable under the terms of this Agreement, Agreement and (2) the Bank shall have the right to recover from the Director’s estate all of the amounts paid to the Director’s estate (with respect to amounts paid prior to the Director’s death or paid to the Director’s estate) or designated beneficiary (with respect to amounts paid to the designated beneficiary) pursuant to the terms of this Agreement prior to and after the Director’s death.

Applicable Percentage. The term “Applicable Percentage” shall mean that percentage adjacent to a calendar period listed on Schedule “A” attached hereto, which percentage shall remain in effect until an adjustment occurs on each succeeding calendar period during the term of service as a member of the Board of Directors of the Bank. Notwithstanding the foregoing or the percentages set forth on Schedule “A,” ”, but subject to all other terms and conditions set forth herein, the “Applicable Percentage” shall be: (i) provided payments have not mot yet begun hereunder, one hundred percent (100%) upon termination of termination of service described in subparagraph 5.4 pursuant to a “Change in Control” as defined in subparagraph 1.4 1.3 below, or the Director’s death, or Disability as defined in subparagraph 1.6 1.5 below, which death or Disability occurs prior to the termination of service; and (ii) notwithstanding subclause (i) of this subparagraph 1.2, zero percent (0%) in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary. Furthermore, notwithstanding the foregoing, or anything contained in this Agreement to the contrary, in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the Director’s death and of which the Bank is the designated beneficiary: (1) the Director’s estate or designated beneficiary shall no longer be entitled to receive any of the amounts payable under the terms of this Agreement, and (2) the Bank shall have the right to recover from the Director’s Directors estate all of the amounts paid to the Director’s estate (with respect to amounts paid prior to the Director’s death or paid to the Director’s estate) or designated beneficiary (with respect to amounts paid to the designated beneficiary) pursuant to the terms of this Agreement prior to and after the Director’s death.

Applicable Percentage. The term “Applicable Percentage” shall mean that percentage adjacent to a calendar period listed on Schedule “A” attached hereto, which percentage shall remain in effect until an adjustment occurs on each succeeding calendar period during the term of service as a member of the Board of Directors of the Bank. , Notwithstanding the foregoing or the percentages set forth on Schedule “A,” but subject to all other terms and conditions set forth herein, the “Applicable Percentage” shall be: (i) provided payments have not yet begun hereunder, one hundred percent (100%) upon termination of service described in subparagraph 5.4 pursuant to a “Change in Control” as defined in subparagraph 1.4 below, or the Director’s death, or Disability as defined in subparagraph 1.6 below, which death or Disability occurs prior to termination of service; and (ii) notwithstanding subclause (i) of this subparagraph 1.2, zero percent (0%) in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the DirectorSurrogate’s death and of which the Bank is the designated beneficiary. Furthermore, notwithstanding the foregoing, foregoing or anything contained in this Agreement to the contrary, in the event the Director takes any intentional action which prevents the Bank from collecting the proceeds of any life insurance policy which the Bank may happen to own at the time of the DirectorSurrogate’s death and of which the Bank is the designated beneficiary: (1) the Director’s estate or designated beneficiary shall no longer be entitled to receive any of the amounts payable under the terms of this Agreement, and (2) the Bank shall have the right to recover from the Director’s estate all of the amounts paid to the Director’s estate (with respect to amounts paid prior to the DirectorSurrogate’s death or paid to the Director’s estate) or designated beneficiary (with respect to amounts paid to the designated beneficiary) pursuant to the terms of this Agreement prior to and after the Director’s Surrogates death.

Applicable Percentage. The term “"Applicable Percentage” " shall mean that percentage adjacent to a calendar period listed on Schedule “"A” " attached hereto, hereto which percentage is adjacent to the number of calendar years which shall remain in effect until an adjustment occurs on each succeeding calendar period during have elapsed from the term date of the Executive's commencement of service as a member of to the Board of Directors of the BankEmployer. Notwithstanding the foregoing or the percentages percentage set forth on Schedule “A,” , but subject to all other terms and conditions set forth herein, the “"Applicable Percentage” Percentage shall be: (i) provided payments have not yet begun hereunder, one hundred percent (100%) upon termination the occurrence of service described in subparagraph 5.4 pursuant to a “"Change in Control” " as defined in subparagraph 1.4 below, or the Director’s Executive's death, or Disability (as defined in subparagraph 1.6 below, which death or Disability occurs prior to termination of service); and (ii) notwithstanding subclause (i) of this subparagraph 1.2, zero percent (0%) in the event the Director Executive takes any intentional action which prevents the Bank Employer from collecting the proceeds of any life insurance policy which the Bank Employer may happen to own at the time of the Director’s Executive's death and of which the Bank Employer is the designated beneficiary. Furthermore, notwithstanding the foregoing, or anything contained in this Agreement to the contrary, in the event the Director Executive takes any intentional action which prevents the Bank Employer from collecting the proceeds of any life insurance policy which the Bank Employer may happen to own at the time of the Director’s Executive's death and of which the Bank Employer is the designated beneficiary: (1) the Director’s Executive's estate or designated beneficiary shall no longer be entitled to receive any of the amounts payable under the terms of this Agreement, and (2) the Bank Employer shall have the right to recover from the Director’s Executive's estate all of the amounts paid to the Director’s Executive's estate (with respect to amounts paid prior to the Director’s Executive's death or paid to the Director’s Executive's estate) or designated beneficiary (with respect to amounts paid to the designated beneficiary) pursuant to the terms of this Agreement prior to and after the Director’s Executive's death.