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 all previous years' after-tax Opportunity Cost, and multiplying that sum by the average 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 rate (combined federal and state) for each Plan Year. This rate shall be adjusted annually.
Appears in 2 contracts
Samples: Supplemental Retirement Plan Executive Agreement (Community Valley Bancorp), Supplemental Retirement Plan Executive Agreement (Community Valley Bancorp)
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 rate after tax yield 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 rate (combined federal and state) for each Plan Year. This rate shall be adjusted annuallya one-year Treasury bxxx.
Appears in 2 contracts
Samples: Executive Supplemental Retirement (Bank of Granite Corp), Supplemental Retirement Plan Executive 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 rate of return on the average Average Federal Funds for the Plan Year as quoted in the Wall Street Journal net of the Company's highest marginal tax rate (combined federal and state) for each Plan Year. This rate shall be adjusted annuallyRate.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (Grandsouth Bancorporation)
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 rate after-tax yield 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 rate (combined federal and state) for each Plan Year. This rate shall be adjusted annuallya one year Treasury Bill.
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 rate of return on the average Federal Funds for the Plan Year as quoted in the Wall Street Journal net after-tax yield of the Company's highest marginal tax rate one year Treasury Bxxx minus fifty (combined federal and state50) for each Plan Year. This rate shall be adjusted annuallybasis points.
Appears in 1 contract
Samples: Executive Supplemental Retirement Plan (Centra Financial Holdings Inc)