Average Annual Compensation. The average of a Participant’s annual Compensation as defined in paragraph 1.16 of this Basic Plan Document #01, over the three (3) consecutive Plan Year period ending in either the current year or any prior year that produces the highest average. If the Participant has fewer than three (3) years of participation in this Plan, Compensation is averaged over the Participant’s total period of participation.
Appears in 7 contracts
Samples: Prototype Defined Contribution Plan (FNB United Corp.), Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.), Prototype Defined Contribution Plan (Georgetown Bancorp, Inc.)
Average Annual Compensation. The average of a Participant’s 's annual Compensation as defined in paragraph 1.16 of this Basic Plan Document #01, over the three (3) consecutive Plan Year period ending in either the current year or any prior year that produces the highest average. If the Participant has fewer than three (3) years of participation in this Plan, Compensation is averaged over the Participant’s 's total period of participation.
Appears in 5 contracts
Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Prototype Defined Contribution (Spheris Leasing LLC), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)
