Common use of Phantom Contributions Made Annually Clause in Contracts

Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the Executive's Accrued Benefit Account on or before the last day of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the Executive's termination of employment.

Appears in 4 contracts

Samples: Retirement Income Agreement (Magyar Bancorp, Inc.), Retirement Income Agreement (Magyar Bancorp, Inc.), Retirement Income Agreement (Magyar Bancorp, Inc.)

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Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the Executive's ’s Accrued Benefit Account on or before within thirty (30) days of the last day beginning of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the Executive's ’s termination of employment.

Appears in 3 contracts

Samples: Supplemental Retirement Income Agreement (United Community Bancorp), Income Agreement (First Capital Bank Holding Corp), Income Agreement (United Community Bancorp)

Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the Executive's Accrued Benefit Account on or before within thirty (30) days of the last day beginning of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the Executive's termination of employmentservice.

Appears in 3 contracts

Samples: Deferred Compensation Agreement (First Bancorp of Indiana Inc), Deferred Compensation Agreement (First Bancorp of Indiana Inc), Deferred Compensation Agreement (First Bancorp of Indiana Inc)

Phantom Contributions Made Annually. If the Executive Participant exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the ExecutiveParticipant's Accrued Benefit Account on or before within ten (10) days of the last day beginning of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive Participant exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the ExecutiveParticipant's termination of employment.

Appears in 3 contracts

Samples: Supplemental Retirement Income Agreement (Pocahontas Bancorp Inc), Supplemental Retirement Income Agreement (Pocahontas Bancorp Inc), Supplemental Retirement Income Agreement (Pocahontas Bancorp Inc)

Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the Executive's executive’s Accrued Benefit Account on or before within ten (10) days of the last day beginning of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the Executive's ’s termination of employment.

Appears in 1 contract

Samples: Supplemental Retirement Income Agreement (Chicopee Bancorp, Inc.)

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Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the Executive's Executives Accrued Benefit Account on or before within thirty (30) days of the last day beginning of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the Executive's ’s termination of employment.

Appears in 1 contract

Samples: Income Agreement (Pathfinder Bancorp Inc)

Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Phantom Contributions shall be recorded annually in the Executive's Accrued Benefit Account on or before within ten (10) days of the last day beginning of each Plan Year, commencing with the first Plan Year following the Plan Year in which the Executive exercises his withdrawal rights. Such Phantom Contributions shall continue to be recorded annually, unless this Subsection 2.1(c) specifically states otherwise, until the earlier of (i) the last Plan Year that Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year of the Executive's termination of employment.

Appears in 1 contract

Samples: Supplemental Retirement Income Agreement (Granite State Bankshares Inc)

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