Common use of Calculation of Benefits Under Certain Plans Clause in Contracts

Calculation of Benefits Under Certain Plans. For the purposes of calculating the amount of severance payable to the Officer following a Notice of Termination under paragraph (b) of Section 5 of this Agreement, if at the time a Notice of Termination is given, the Officer has not been employed by the Bank for a period of time sufficient for the Officer to have been eligible for a cash bonus under an Annual Incentive Plan as in effect for the applicable number of years prior to the Notice of Termination, then the Officer shall be deemed to have earned the maximum bonus award potentially available to an Officer of the same grade under the Annual Incentive Plan ( based upon the Officer's current annual base salary) for the applicable year or years prior to the Notice of Termination for which the Officer was not an employee and therefore not eligible for a cash bonus under an Annual Incentive Plan.

Calculation of Benefits Under Certain Plans. For the purposes of calculating the amount of severance payable to the Officer following a Notice of Termination under paragraph (b) of Section 5 of this Agreement, if at the time a Notice of Termination is given, the Officer has not been employed by the Bank for a period of time sufficient for the Officer to have been eligible for a cash bonus under an Annual Incentive Plan as in effect for the applicable number of years prior to the Notice of Termination, then the Officer shall be deemed to have earned the maximum bonus award potentially available to an Officer of the same grade under the Annual Incentive Plan ( (based upon the Officer's current annual base salary) for the applicable year or years prior to the Notice of Termination for which the Officer was not an employee and therefore not eligible for a cash bonus under an Annual Incentive Plan.

Calculation of Benefits Under Certain Plans. For the purposes of calculating the amount of severance payable to the Officer following a Notice of Termination under paragraph (b) of Section 5 of this Agreement, if at the time a Notice of Termination is given, given the Officer has not been employed by the Bank for a period of time sufficient for the Officer to have been eligible for a cash bonus under an Annual Incentive Plan as in effect for the applicable number of years prior to the Notice of Termination, then the Officer officer shall be deemed to have earned the maximum bonus award potentially available to an Officer officer of the same grade under the Annual Incentive Plan ( (computed based upon the Officerofficer's current annual base salary) for the applicable year or years prior to the Notice of Termination for which the Officer was not an employee and therefore not eligible for a cash bonus under an Annual Incentive Plan.