Benefit Computation Base. The Executive’s Benefit Computation Base shall be the average of the three (3) consecutive calendar years during the Executive’s period of employment by the Bank in which his compensation, including any bonus, is the highest. Includable bonus compensation will be limited to fifteen (15) percent (%) of then current salary compensation for purposes of determining the benefit computation base.
Appears in 3 contracts
Samples: Executive Supplemental Retirement Agreement (Georgetown Bancorp, Inc.), Executive Supplemental Retirement Agreement (Georgetown Bancorp, Inc.), Executive Supplemental Retirement Agreement (Georgetown Bancorp, Inc.)
Benefit Computation Base. The Executive’s 's Benefit Computation Base shall be the average of the three five (35) consecutive calendar years during the Executive’s 's period of employment by the Bank Corporation in which his compensation, including any bonus, is the highest. Includable bonus compensation will be limited to fifteen (15) percent (%) of then current salary compensation for purposes of determining the benefit computation base.
Appears in 1 contract
Samples: Supplemental Compensation Agreement (First Litchfield Financial Corp)
