Opportunity Cost. The 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 (Paragraph II hereinafter) plus the amount of all previous years’ after-tax Opportunity Cost, and multiplying that sum by the average after tax yield of a one-year Treasury bxxx.
Appears in 2 contracts
Samples: Executive Supplemental Retirement Plan Amendment (Bank of Granite Corp), Executive Supplemental Retirement Plan Agreement (Bank of Granite Corp)
Opportunity Cost. The 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 (Paragraph II hereinafter) " plus the amount of all previous years’ ' after-tax Opportunity Cost, and multiplying that sum by the average after rate of return on the average Federal Funds for the Plan Year as quoted in the Wall Street Journal net of the Company's highest marginal tax yield of a one-year Treasury bxxxrate (combined federal and state) for each Plan Year. This rate shall be adjusted annually.
Appears in 2 contracts
Samples: Executive Supplemental Retirement Plan (Community Valley Bancorp), Executive Supplemental Retirement Plan (Community Valley Bancorp)
Opportunity Cost. The Opportunity Cost 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 any Executive pursuant to the Executive Plan (Paragraph II hereinafter) plus the amount of all previous years’ years after-tax Opportunity Cost, and multiplying that sum by the average after annualized after-tax yield of a one-year Treasury bxxxxxxx for the Plan Year.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (CCF Holding Co)
Opportunity Cost. The Opportunity Cost for any Plan Year shall be calculated by taking the sum of the amount of premiums for set forth in the life insurance Indexed policies described in the definition of “Index” above plus the amount of any after-tax benefits paid to the Executive pursuant to the Executive Plan this Agreement (Paragraph II III hereinafter) plus the amount of all previous years’ years after-tax Opportunity Cost, and multiplying that sum by the average after after-tax yield of a one-one year Treasury bxxxxxxx for the Plan Year.
Appears in 1 contract
Samples: Executive Indexed Salary Continuation Plan Agreement (Quitman Bancorp Inc)
Opportunity Cost. The 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 Director pursuant to the Executive Director Plan (Paragraph II hereinafter) plus the amount of all previous years’ years after-tax Opportunity Cost, and multiplying that sum by the average after annualized after-tax yield of a one-year Treasury bxxxXxxx, or, in any event, no less than five and one half percent (5.50%).
Appears in 1 contract
Samples: Director Supplemental Retirement Plan Agreement (Service Bancorp Inc)
Opportunity Cost. The 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 (Paragraph II hereinafter) plus the amount of all previous years’ ' after-tax Opportunity Cost, and multiplying that sum by the average after after-tax yield of a one-year Treasury bxxxbill for the Plan Year.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (Cherokee Banking Co)
Opportunity Cost. The Opportunity Cost for any Plan Year shall be calculated by taking the sum of the amount of premiums for set forth in the life insurance Indexed policies described in the definition of “Index” Exhibit A 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’ years after-tax Opportunity Cost, and multiplying that sum by the average after annualized after-tax yield of a one-year Treasury bxxxxxxx for the Plan Year.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan Agreement (New England Bancshares Inc)
Opportunity Cost. The Opportunity Cost for any Plan Year shall be 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 Opportunity Cost, and multiplying that sum by the average after after-tax yield of a one-one year Treasury bxxxBill.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (North Georgia Community Financial Partne)
Opportunity Cost. The 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 (Paragraph II hereinafter) plus the amount of all previous years’ years after-tax Opportunity Cost, and multiplying that sum by the average after after-tax yield of a one-the one year Treasury bxxxBxxx minus fifty (50) basis points.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (Centra Financial Holdings Inc)
Opportunity Cost. The 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 (Paragraph II hereinafter) plus the amount of all previous years’ ' after-tax Opportunity Cost, and multiplying that sum by the average after tax yield of a one-year Treasury bxxxAverage Federal Funds Rate.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (Grandsouth Bancorporation)