Common use of Timing of Contribution Clause in Contracts

Timing of Contribution. Fifty percent (50%) of the amount determined for a Plan Year pursuant to Section 1.1(a) (after any adjustment pursuant to Section 1.3) shall be credited in arrears, and fifty percent (50%) of the amount determined for a Plan Year pursuant to Section 1.1(b) shall be credited, as part of the first payroll following each June 30 and December 31.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp)

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Timing of Contribution. Fifty percent (50%) of the amount determined for a Plan Year pursuant to Section 1.1(a) (after any adjustment pursuant to Section 1.3) shall be credited in arrears, and fifty percent (50%) of the amount determined for a Plan Year pursuant to Section 1.1(bI.I(b) shall be credited, as part of the first payroll following each June 30 and December 31.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp)

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