Cost of Funds Expense. The “Cost of Funds Expense” for any Plan Year shall be calculated by taking the sum of the amount of premiums set forth in the Indexed policies described above plus the amount of any after-tax benefits paid to the Executive pursuant to this Agreement (Paragraph III hereinafter) plus the amount of all previous years after-tax Costs of Funds Expense, and multiplying that sum by the average after-tax cost of funds of the Bank’s third quarter Call Report for the Plan Year as filed with the Federal Reserve.
Cost of Funds Expense. The Cost of Funds Expense for any Plan Year shall be calculated by taking the sum of the amount of premiums for the life insurance policies described in the definition of "Index" plus the amount of any after-tax benefits paid to the Executive pursuant to the Executive Plan (Paragraph II hereinafter) plus the amount of all previous years' after-tax Cost of Funds Expense, and multiplying that sum by the Average After-Tax Cost of Funds (Subparagraph I [K]).
Cost of Funds Expense. The Cost of Funds Expense for any Plan Year shall be the after-tax amount as calculated by taking the amount of the premium(s) for the insurance contract(s) listed above (whether or not such policies are purchased) times the Bank's investment portfolio yield, plus the increase in the policy's cash surrender value since the implementation date times the interest rate paid on federal funds sold. The interest rates used for the portfolio yield and fed funds sold will be an average for the Plan Year.
Cost of Funds Expense. The Cost of Funds Expense for any Plan Year shall be calculated by taking the sum of the amount of premiums set forth in the Indexed policies described above plus the amount of any after-tax benefits paid to the Executive pursuant to this Agreement (Paragraph III hereinafter) plus the amount of all previous years after-tax Costs of Funds Expense, and multiplying that sum by the average after-tax cost of funds as published in the third quarter Office of Thrift Supervision Annual Thrift Financial Report of the Ameriana Bank of Indiana, FSB.
Cost of Funds Expense. The Cost of Funds Expense for any Plan Year shall be calculated by taking the sum of the amount of premiums for the life insurance policies described in the definition of “Index” plus the amount of any after-tax benefits paid to the Executive pursuant to the Executive Plan (Paragraph II hereinafter) plus the amount of all previous years’ after-tax Cost of Funds Expense, and multiplying that sum by the greater of either: (i) Average After-Tax Cost of Funds (Subparagraph I [K]); or (ii) Average after-tax yield of a one-year Treasury Bxxx.
Cost of Funds Expense. The Cost of Funds Expense for the year shall be calculated by taking the sum of the amount of premiums set forth in the Indexed policies described above plus the amount of any after-tax benefits paid to any director pursuant to the Plan (Paragraph II hereinafter) plus the amount of all previous years after-tax Costs of Funds Expense, and multiplying that sum by the average annualized after-tax Cost of Funds of the Bank's third quarter Call Report for the Plan Year as filed with the Office of Thrift Supervision Annual Thrift Financial Report of the Ameriana Bank of Indiana, F.S.B.
Cost of Funds Expense. 1. For plan periods beginning June 3, 2002 and ending May 31, 2003, the Cost of Funds Expense for any Plan Year shall be the after-tax amount as calculated by taking the amount of the premium(s) for the insurance contract(s) listed above (whether or not such policies are purchased) times the Bank's investment portfolio yield, plus the increase in the policy's cash surrender value since the implementation date times the interest rate paid on federal funds sold. The interest rates used for the portfolio yield and fed funds sold will be an average for the Plan Year.
2. For plan periods beginning June 1, 2003 and ending December 31, 2003, the Cost of Funds Expense (Opportunity Cost) for any Plan Year shall be calculated by taking the sum of the amount of premiums for the life insurance policies described in the definition of "Index" plus the amount of any after-tax benefits paid to the Executive pursuant to the Executive Plan plus the amount of all previous years' after-tax Cost of Funds Expense, and multiplying that sum by the after-tax yield on the Bank's investment alternatives, computed as the average of: Bond Portfolio Yield 5 year Treasury securities 3 year Treasury securities Federal funds sold overnight rate
3. For plan periods beginning January 1, 2004, the Cost of Funds expenses shall be zero.
Cost of Funds Expense. The Cost of Funds Expense for any Plan Year shall be calculated by taking the sum of the amount of premiums set forth in the Indexed policies described above plus the amount of any after-tax benefits paid to the Director pursuant to this Agreement (Paragraph III hereinafter) plus the amount of all previous years after-tax Costs of Funds Expense, and multiplying that sum by the average after-tax cost of funds of the Bank's third quarter Call Report for the Plan Year as filed with the Federal Deposit Insurance Corporation.
Cost of Funds Expense. For the First Plan Year, the Cost of Funds Expense shall equal the Total Premium Amount multiplied by the After-Tax Adjusted Investment Rate. For each Plan Year thereafter, the Cost of Funds Expense shall equal the sum of (i) Total Premium Amount for the previous Plan Year, plus (ii) the Cost of Funds Expense f or the previous Plan Year multiplied by the After-Tax Adjusted Investment Rate.
Cost of Funds Expense. The Cost of Funds Expense for any Plan Year shall be calculated by taking the after tax amount of the Interest Cost of the Bank divided by the average balance of interest bearing liabilities of the Bank.
