Common use of Benefit Account Clause in Contracts

Benefit Account. A Benefit Account shall be established as a liability reserve account on the books of the Employer for the benefit of the Executive. Prior to the date on which the Executive becomes eligible to receive payments under the Agreement, such Benefit Account shall be increased (or decreased) each Plan Year (including the Plan Year in which the Executive ceases to be employed by the Employer) by an amount equal to the annual earnings or loss for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a liability reserve account on the books of the Employer Bank for the benefit of the ExecutiveDirector. Prior to the date on which the Executive Director becomes eligible to receive payments under the Agreement, such Benefit Account shall be increased (or decreased) decreased each Plan Year (including the Plan Year in which the Executive Director ceases to be employed by serve as a member of the EmployerBoard of Directors of the Bank) by an amount equal to the annual earnings or loss for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a liability reserve account on the books of the Employer Bank for the benefit of the ExecutiveDirector. Prior to the date on which the Executive Director becomes eligible to receive payments under the Agreement, such Benefit Account shall be increased (or decreased) each Plan Year (including the Plan Year in which the Executive Director ceases to be employed by the EmployerBank) by an amount equal to the annual earnings or loss for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a --------------- liability reserve account on the books of the Employer for the benefit of the ExecutiveEmployee. Prior to the date on which the Executive Employee becomes eligible to receive payments under the AgreementPlan, such Benefit Account shall be increased (or decreased) each Plan Year (including the Plan Year in which the Executive ceases to be employed by the Employer) by an amount equal to the annual earnings (or loss loss) for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a liability --------------- reserve account on the books of the Employer for the benefit of the ExecutiveEmployee. Prior to the date on which the Executive Employee becomes eligible to receive payments under the AgreementPlan, such Benefit Account shall be increased (or decreased) each Plan Year (including the Plan Year in which the Executive ceases to be employed by the Employer) by an amount equal to the annual earnings (or loss loss) for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a liability reserve account on the books of the Employer Bank for the benefit of the ExecutiveDirector. Prior to the date on which the Executive Director becomes eligible to receive payments under the Agreement, such Benefit Account shall be increased (or decreased) each Plan Year (including the Plan Year in which the Executive Director ceases to be employed by the EmployerBank) by an amount equal to the annual earnings or loss for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a liability reserve account on the books of the Employer Bank for the benefit of the ExecutiveDirector. Prior to the date on which the Executive becomes eligible to receive payments Director’s Retirement or other termination of service under the Agreement, such Benefit Account shall be increased (or decreased) decreased each Plan Year (including the Plan Year in which the Executive Director ceases to be employed by serve as a member of the EmployerBoard of Directors of the Bank) by an amount equal to the annual earnings or loss for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.

Benefit Account. A Benefit Account shall be established as a liability reserve account on the books of the Employer Bank for the benefit of the ExecutiveDirector. Prior to the date on which the Executive becomes eligible to receive payments Director’s Retirement or other termination of service under the Agreement, Agreement such Benefit Account shall be increased (or decreased) decreased each Plan Year (including the Plan Year in which the Executive director ceases to be employed by serve as a member of the EmployerBoard of Directors of the Bank) by an amount equal to the annual earnings or loss for that Plan Year determined by the Index (described in subparagraph c below), less the Opportunity Cost (described in subparagraph d below) for that Plan Year.