EXHIBIT 10(iv)
ADVANTAGE BANK
SALARY CONTINUATION AGREEMENT
THIS AGREEMENT is entered into this ________ day of _______________, 2002,
by and between ADVANTAGE BANK, an Ohio savings bank located in Cambridge, Ohio
(the "Company"), and NAME OF EXECUTIVE (the "Executive").
INTRODUCTION
To encourage the Executive to remain an employee of the Company, the
Company is willing to provide salary continuation benefits to the Executive. The
Company will pay the benefits from its general assets.
AGREEMENT
The Company and the Executive agree as follows:
ARTICLE 1
DEFINITIONS
Whenever used in this Agreement, the following words and phrases shall
have the meanings specified:
1.1 "Camco" means Camco Financial Corporation, which is the holding
company for the Company.
1.2 "Change of Control" means any one of the following events: (i) the
acquisition of ownership or power to vote more than 25% of the voting stock of
Camco; (ii) the acquisition of the ability to control the election of a majority
of the directors of Camco; (iii) during any period of two consecutive years,
individuals who at the beginning of such period constitute the Board of
Directors of Camco cease for any reason to constitute at least a majority
thereof; provided, however, that any individual whose election or nomination for
election as a member of the Board of Directors of Camco was approved by a vote
of at least two-thirds of the directors then in office shall be considered to
have continued to be a member of the Board of Directors of Camco; or (iv) the
acquisition by any person or entity of "conclusive control" of Camco within the
meaning of 12 C.F.R. Section 574.4(a), or the acquisition by any person or
entity of "rebuttable control" within the meaning of 12 C.F.R. Section 574.4(b)
that has not been rebutted in accordance with 12 C.F.R. Section 574.4(c). For
purposes of this paragraph, the term "person" refers to an individual or
corporation, partnership, trust, association, or other organization, but does
not include the Executive and any person or persons with whom the Executive is
"acting in concert" within the meaning of 12 C.F.R. Part 574.
1.3 "Code" means the Internal Revenue Code of 1986, as amended.
1.4 "Disability" means the Executive suffering a sickness, accident or
injury which has been determined by the carrier of any individual or group
disability insurance policy covering the Executive, or by the Social Security
Administration, to be a disability rendering the Executive totally and
permanently disabled. The Executive must submit proof to the Company of the
carrier's or Social Security Administration's determination upon the request of
the Company.
1.5 "Early Termination" means the Termination of Employment before Normal
Retirement Age for reasons other than death, Disability, Termination for Cause
or following a Change of Control.
1.6 "Early Termination Date" means the month, day and year in which Early
Termination occurs.
1.7 "Effective Date" means January 1, 2002.
1.8 "Normal Retirement Age" means the Executive's 65th birthday.
1.9 "Normal Retirement Date" means the later of the Normal Retirement Age
or Termination of Employment.
1.10 "Plan Year" means each calendar year from and after the Effective
Date.
1.11 "Termination of Employment" means that the Executive ceases to be
employed by the Company for any reason, voluntary or involuntary, other than by
reason of a leave of absence approved by the Company.
1.12 "Years of Employment" means the total number of 12-month periods
during which the Executive is employed on a full-time basis by the Company,
inclusive of any leave of absence approved by the Company, beginning October 21,
1998.
ARTICLE 2
LIFETIME BENEFITS
2.1 Normal Retirement Benefit. Upon Termination of Employment on or after
the Normal Retirement Age for reasons other than death or Termination for Cause
(as defined in Section 5.1 of this Agreement) the Company shall pay to the
Executive the benefit described in this Section 2.1 in lieu of any other benefit
under this Agreement.
2.1.1 Amount of Benefit. The annual benefit under this Section 2.1
is $__________.
2.1.2 Payment of Benefit. The Company shall pay the annual benefit
to the Executive in 12 equal monthly installments commencing with the
month following the Executive's Normal Retirement Date for a period of 15
years.
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2.2 Early Termination Benefit. Upon Early Termination, the Company shall
pay to the Executive the benefit described in this Section 2.2 in lieu of any
other benefit under this Agreement.
2.2.1 Amount of Benefit. The benefit under this Section 2.2 is the
Early Termination Annual Benefit set forth in Schedule A for the Plan Year
ending immediately prior to the Early Termination Date, determined by
vesting the Executive in 10 percent of the Accrual Balance set forth in
Schedule A for the first Plan Year (based on 10 percent credit for each
two Years of Employment prior to the Effective Date of this Agreement) and
an additional 10 percent of said amount for each succeeding Plan Year
thereafter until the Executive becomes 100 percent vested in the Accrual
Balance. Any increase in the annual benefit under Section 2.1.1 shall
require the recalculation of this benefit on Schedule A. This benefit is
determined by calculating a 15-year fixed annuity from the Accrual
Balance, crediting interest on the unpaid balance at an annual rate of 8.0
percent, compounded monthly.
2.2.2 Payment of Benefit. The Company shall pay the annual benefit
determined in accordance with Section 2.2.1 to the Executive in 12 equal
monthly installments commencing with the month following Termination of
Employment.
2.3 Disability Benefit. If the Executive terminates employment due to
Disability prior to Normal Retirement Age, the Company shall pay to the
Executive the benefit described in this Section 2.3 in lieu of any other benefit
under this Agreement.
2.3.1 Amount of Benefit. The benefit under this Section 2.3 is the
Disability Annual Benefit set forth in Schedule A for the Plan Year ending
immediately prior to the date in which the Termination of Employment
occurs (except during the first Plan Year, the benefit is the amount set
forth for Plan Year 1), determined by vesting the Executive in 100 percent
of the Accrual Balance. Any increase in the annual benefit under Section
2.1.1 would require the recalculation of the Disability benefit on
Schedule A. This benefit is determined by calculating a 15-year fixed
annuity from the Accrual Balance, crediting interest on the unpaid balance
at an annual rate of 8.0 percent, compounded monthly.
2.3.2 Payment of Benefit. The Company shall pay the annual benefit
determined in accordance with Section 2.3.1 to the Executive in 12 equal
monthly installments commencing with the month following Termination of
Employment for a period of 15 years.
2.4 Change of Control Benefit. Upon a Change of Control followed within 12
months by the Executive's Termination of Employment, the Company shall pay to
the Executive the benefit described in this Section 2.4 in lieu of any other
benefit under this Agreement.
2.4.1 Amount of Benefit. The benefit under this Section 2.4 is the
Change of Control Annual Benefit set forth in Schedule A for the Plan Year
ending immediately prior to the date in which Termination of Employment
occurs (except during the first Plan Year, the benefit is the amount set
forth for Plan Year 1), determined by vesting the Executive in
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100 percent of the Accrual Balance. Any increase in the annual benefit
under Section 2.1.1 would require the recalculation of the Change of
Control benefit on Schedule A. This benefit is determined by calculating a
15-year fixed annuity from the Accrual Balance, crediting interest on the
unpaid balance at an annual rate of 8.0 percent, compounded monthly.
2.4.2 Payment of Benefit. The Company shall pay the annual benefit
determined in accordance with Section 2.4.1 above to the Executive in 12
equal monthly installments commencing with the month following Termination
of Employment for a period of 15 years.
2.4.3 Election for Lump Sum Payment. Notwithstanding the provisions
for the payment of benefits in monthly installments set forth in this
Agreement, upon the occurrence of a Change in Control, the Executive may
elect to receive the value of the benefit he is entitled to pursuant to
Section 2.4.2 or the value of any remaining benefits he is entitled to
receive pursuant to Section 2.1, Section 2.2, Section 2.3 or Article 3 of
this Agreement in a lump sum calculated under the following procedures:
(a) First, the Company will calculate the present value of the
annual benefit the Executive is entitled to receive by applying an
interest factor equal to 120 percent of the applicable federal rate
(or other interest factor prescribed by the Internal Revenue Service
in regulations issued under Section 280G of the Code) as of the date
of calculation over the period of the acceleration; and
(b) Second, reduce the amount produced by the computation prescribed
in paragraph (a) above by five percent.
ARTICLE 3
DEATH BENEFITS
3.1 Death During Active Service. If the Executive dies while in the active
service of the Company, the Company shall pay to the Executive's beneficiary the
benefit described in this Section 3.1. This benefit shall be paid in lieu of the
benefits under Article 2.
3.1.1 Amount of Benefit. The annual benefit under this Section 3.1
is the Normal Retirement Benefit amount described in Section 2.1.1.
3.1.2 Payment of Benefit. The Company shall pay the annual benefit
to the Executive's beneficiary in 12 equal monthly installments commencing
with the month following the Executive's death for a period of 15 years.
3.2 Death During Payment of a Lifetime Benefit. If the Executive dies
after any lifetime benefit payments have commenced under Article 2 of this
Agreement but before receiving all such payments, the Company shall pay the
remaining benefits to the Executive's beneficiary at
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the same time and in the same amounts they would have been paid to the Executive
had the Executive survived.
3.3 Death After Termination of Employment But Before Payment of a Lifetime
Benefit Commences. If the Executive is entitled to a lifetime benefit under
Article 2 of this Agreement but dies prior to the commencement of the benefit
payments, the Company shall pay the same benefit payments to the Executive's
beneficiary that the Executive was entitled to prior to death. The benefit
payments shall commence on the first day of the month following the date of the
Executive's death.
ARTICLE 4
BENEFICIARIES
4.1 Beneficiary Designations. The Executive shall designate a beneficiary
by filing a written designation with the Company. The Executive may revoke or
modify the designation at any time by filing a new designation. Designations
will only be effective if signed by the Executive and received by the Company
during the Executive's lifetime. The Executive's beneficiary designation shall
be deemed automatically revoked if the beneficiary predeceases the Executive or
if the Executive names a spouse as beneficiary and the marriage is subsequently
dissolved. If the Executive dies without a valid beneficiary designation, all
payments shall be made to the Executive's estate.
4.2 Facility of Payment. If a benefit is payable to a minor, to a person
declared incompetent, or to a person incapable of handling the disposition of
his or her property, the Company may pay such benefit to the guardian, legal
representative or person having the care or custody of such minor, incompetent
person or incapable person. The Company may require proof of incompetence,
minority or guardianship as it may deem appropriate prior to distribution of the
benefit. Such distribution shall completely discharge the Company from all
liability with respect to such benefit.
ARTICLE 5
GENERAL LIMITATIONS
5.1 Termination for Cause. Notwithstanding any provision of this Agreement
to the contrary, the Company shall not pay any benefit under this Agreement if
the Company terminates the Executive's employment for personal dishonesty,
incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, intentional failure to perform assigned duties and responsibilities,
willful violation of any law, rule, regulation or final cease and desist order
(other than traffic violations or similar offenses), conviction of a felony or
for fraud or embezzlement, or material breach of any provision of any written
employment agreement between the Executive and the Company.
5.2 Suicide or Misstatement. The Company shall not pay any benefit under
this Agreement if the Executive commits suicide within three years after the
date of this Agreement. In addition, the Company shall not pay any benefit under
this Agreement if the Executive has
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made any material misstatement of fact on an employment application or resume
provided to the Company or on any application for any benefits provided by the
Company to the Executive.
5.3 Competition After Termination of Employment. The Company shall not pay
any benefit under this Agreement if the Executive, without the prior written
consent of the Company, engages in, becomes interested in, directly or
indirectly, as a sole proprietor, as a partner in a partnership, or as a
substantial shareholder in a corporation, or becomes associated with, in the
capacity of employee, director, officer, principal, agent, or trustee, any
enterprise conducted within a 50 mile radius of the location of any facility
from which the Company conducts its business, which enterprise is, or may deemed
to be, competitive with any business carried on by the Company as of the date of
termination of the Executive's employment or retirement. This section shall not
apply following a Change of Control.
5.4 Compliance with Section 280G of the Code. The Notwithstanding any
other provision of this Agreement or any other agreement between the Executive
and the Company to the contrary, the Company shall not pay any benefit to the
extent the benefit under this Agreement and all other agreements between the
Executive and the Company or the Holding Company would create an excise tax
under the excess parachute rules of Section 280G of the Code.
ARTICLE 6
CLAIMS AND REVIEW PROCEDURE
6.1 Claims Procedure. Any person or entity who has not received benefits
under this Agreement that he or she believes should be paid ("Claimant") shall
make a claim for such benefits as follows:
6.1.1 Initiation - Written Claim. The Claimant shall initiate a
claim by submitting to the Company a written claim for the benefits.
6.1.2 Timing of Company Response. The Company shall respond to such
Claimant within 90 days after receiving the claim. If the Company
determines that special circumstances require additional time for
processing the claim, the Company can extend the response period by an
additional 90 days by notifying the Claimant in writing, prior to the end
of the initial 90-day period, that an additional period is required. The
notice of extension must set forth the special circumstances and the date
by which the Company expects to render its decision.
6.1.3 Notice of Decision. If the Company denies part or all of the
claim, the Company shall notify the Claimant in writing of such denial.
The Company shall write the notification in a manner calculated to be
understood by the Claimant. The notification shall set forth:
(a) The specific reasons for the denial,
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(b) A reference to the specific provisions of the Plan on
which the denial is based,
(c) A description of any additional information or material
necessary for the claimant to perfect the claim and an explanation
of why it is needed,
(d) An explanation of the Plan's review procedures and the
time limits applicable to such procedures, and
(e) A statement of the Claimant's right to bring a civil
action under ERISA Section 502(a) following an adverse benefit
determination on review.
6.2 Review Procedure. If the Company denies part or all of the claim, the
Claimant shall have the opportunity for a full and fair review by the Company of
the denial, as follows:
6.2.1 Initiation - Written Request. To initiate the review, the
Claimant, within 60 days after receiving the Company's notice of denial,
must file with the Company a written request for review.
6.2.2 Additional Submissions - Information Access. The Claimant may
submit written comments, documents, records and other information relating
to the claim. The Company shall also provide the claimant, upon request
and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant (as defined in applicable ERISA
regulations) to the claimant's claim for benefits.
6.2.3 Considerations on Review. In considering the review, the
Company shall take into account all materials and information the Claimant
submits relating to the claim, without regard to whether such information
was submitted or considered in the initial benefit determination.
6.2.4 Timing of Company Response. The Company shall respond in
writing to the Claimant within 60 days after receiving the request for
review. If the Company determines that special circumstances require
additional time for processing the claim, the Company can extend the
response period by an additional 60 days by notifying the claimant in
writing, prior to the end of the initial 60-day period, that an additional
period is required. The notice of extension must set forth the special
circumstances and the date by which the Company expects to render its
decision.
6.2.5 Notice of Decision. The Company shall notify the Claimant in
writing of its decision on review. The Company shall write the
notification in a manner calculated to be understood by the Claimant. The
notification shall set forth:
(a) The specific reasons for the denial,
(b) A reference to the specific provisions of the Plan on
which the denial is based,
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(c) A statement that the Claimant is entitled to receive, upon
request and free of charge, reasonable access to, and copies of, all
documents, records and other information relevant (as defined in
applicable ERISA regulations) to the claimant's claim for benefits,
and
(d) A statement of the Claimant's right to bring a civil
action under ERISA Section 502(a).
ARTICLE 7
AMENDMENTS AND TERMINATION
This Agreement may be amended or terminated only by a written agreement
signed by the Company and the Executive. Notwithstanding the foregoing, the
Company may amend or terminate this Agreement at any time if, pursuant to
legislative, judicial or regulatory action, continuation of the Agreement would
(i) cause benefits to be taxable to the Executive prior to actual receipt, or
(ii) result in significant financial penalties or other significantly
detrimental ramifications to the Company (other than the financial impact of
paying the benefits).
ARTICLE 8
ARBITRATION PROCEDURES
Any controversy or claim arising out of or relating to this Plan that is
not resolved under Article VII shall be settled by arbitration in Cambridge,
Ohio in accordance with the then prevailing rules and regulations of the
American Arbitration Association by a single arbitrator. The award rendered by
the arbitrator shall be final and binding on the parties and may be entered in
any court having jurisdiction. The parties waive any claim to any damages in the
nature of punitive, exemplary or statutory damages in excess of compensatory
damages, or any form of damages in excess of compensatory damages, and the
arbitrator is specifically divested of any power to award damages in the nature
of punitive, exemplary or statutory damages in excess of compensatory damages,
or any form of damages in excess of compensatory damages. Each party shall bear
its own costs in connection with the arbitration and shall share equally the
fees and expenses of the arbitrator. Each party agrees that any legal proceeding
instituted to enforce an arbitration award hereunder will be brought in a court
of competent jurisdiction (either state or federal) in Ohio and hereby submits
to personal jurisdiction of such courts and irrevocably waives any objection as
to venue in such courts, and further agrees not to plead or claim in any such
court that any such proceeding has been brought in an inconvenient forum.
ARTICLE 9
MISCELLANEOUS
9.1 Binding Effect. This Agreement shall bind the Executive and the
Company, and their beneficiaries, survivors, executors, successors,
administrators and transferees.
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9.2 No Guarantee of Employment. This Agreement is not an employment policy
or contract. It does not give the Executive the right to remain an employee of
the Company, nor does it interfere with the Company's right to discharge the
Executive. It also does not require the Executive to remain an employee nor
interfere with the Executive's right to terminate employment at any time.
9.3 Non-Transferability. Benefits under this Agreement cannot be sold,
transferred, assigned, pledged, attached or encumbered in any manner.
9.4 Reorganization. In the event the Company merges or consolidates into
or with another company, reorganizes or sells substantially all of its assets to
another company, firm, or person , the term "Company" as used in this Agreement
shall be deemed to refer to the successor or survivor company and such
succeeding or continuing company, firm, or person shall discharge the
obligations of the Company under this Agreement.
9.5 Tax Withholding. The Company shall withhold any taxes that are
required to be withheld from the benefits provided under this Agreement.
9.6 Applicable Law. The Agreement and all rights hereunder shall be
governed by the laws of the State of Ohio, except to the extent preempted by the
laws of the United States of America.
9.7 Unfunded Arrangement. The Executive and beneficiary are general
unsecured creditors of the Company for the payment of benefits under this
Agreement. The benefits represent the mere promise by the Company to pay such
benefits. The rights to benefits are not subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or
garnishment by creditors. Any insurance on the Executive's life is a general
asset of the Company to which the Executive and beneficiary have no preferred or
secured claim.
9.8 Entire Agreement. This Agreement constitutes the entire agreement
between the Company and the Executive as to the subject matter hereof. No rights
are granted to the Executive by virtue of this Agreement other than those
specifically set forth herein.
9.9 Administration. The Company shall have powers which are necessary to
administer this Agreement, including but not limited to:
(a) Establishing and revising the method of accounting for the
Agreement;
(b) Maintaining a record of benefit payments;
(c) Establishing rules and prescribing any forms necessary or
desirable to administer the Agreement; and
(d) Interpreting the provisions of the Agreement.
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9.10 Named Fiduciary. The Company shall be the named fiduciary and plan
administrator under this Agreement. It may delegate to others certain aspects of
the management and operational responsibilities including the employment of
advisors and the delegation of ministerial duties to qualified individuals.
IN WITNESS WHEREOF, the Executive and the Company have signed this
Agreement.
EXECUTIVE: COMPANY:
Advantage Bank
By
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Name of Executive
Title
-------------------------------
BENEFICIARY DESIGNATION
ADVANTAGE BANK
SALARY CONTINUATION AGREEMENT
NAME OF EXECUTIVE
I designate the following as beneficiary of any death benefits under this
Agreement:
Primary:
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Contingent:
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NOTE: TO NAME A TRUST AS BENEFICIARY, PLEASE PROVIDE THE NAME OF THE TRUSTEE(S)
AND THE EXACT NAME AND DATE OF THE TRUST AGREEMENT.
I understand that I may change these beneficiary designations by filing a new
written designation with the Company. I further understand that the designations
will be automatically revoked if the beneficiary predeceases me, or, if I have
named my spouse as beneficiary and our marriage is subsequently dissolved.
Signature
---------------------------------
Date
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Received by the Company this ______ day of _________________, 200_.
By
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Title
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Attached for each named executive officer that has entered into a salary
Continuation Agreement is a Schedule A disclosing the amounts payable under such
agreement.
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Xxxxx/Xxxxxx Consulting ADVANTAGE BANK PLAN YEAR REPORTING
SALARY CONTINUATION PLAN - SCHEDULE A
XXXXXXX X. XXXXXX
EARLY TERMINATION DIABILITY CHANGE OF CONTROL
DOB: 2/8/1955
Plan Anniv Date: 1/1/2003
Retirement Age: 65 Installment Installment Installment
Payments: Monthly Installments Payable Immediately Payable Immediately Payable Immediately
-------------------- -------------------- --------------------
BENEFIT ACCRUAL Based On Based On Based On
PERIOD LEVEL BALANCE Vesting Accrual Vesting Accural Vesting Accural
ENDING AGE (1) (2) (3) (4) (5) (6) (7) (8)
------ --- ------- ------- ------- -------- ------- -------- ------- --------
Dec2002(1) 47 410,100 91,745 10% 1,045 100% 10,451 100% 10,451
Dec2003 48 410,100 191,105 20% 4,354 100% 21,770 100% 21,770
Dec2004 49 410,100 298,712 30% 10,209 100% 34,029 100% 34,029
Dec2005 50 410,100 415,250 40% 18,922 100% 47,305 100% 47,305
Dec2006 51 410,100 541,461 50% 30,841 100% 61,683 100% 61,683
Dec2007 52 410,100 678,147 60% 46,352 100% 77,254 100% 77,254
Dec2008 53 410,100 826,178 70% 65,882 100% 94,117 100% 94,117
Dec2009 54 410,100 986,495 80% 89,904 100% 112,380 100% 112,380
Dec2010 55 410,100 1,160,119 90% 118,943 100% 132,159 100% 132,159
Dec2011 56 410,100 1,348,153 100% 153,580 100% 153,580 100% 153,580
Dec2012 57 410,100 1,551,794 100% 176,779 100% 176,779 100% 176,779
Dec2013 58 410,100 1,772,338 100% 201,903 100% 201,903 100% 201,903
Dec2014 59 410,100 2,011,186 100% 229,112 100% 229,112 100% 229,112
Dec2015 60 410,100 2,269,859 100% 258,580 100% 258,580 100% 258,580
Dec2016 61 410,100 2,550,001 100% 290,493 100% 290,493 100% 290,493
Dec2017 62 410,100 2,853,395 100% 325,055 100% 325,055 100% 325,055
Dec2018 63 410,100 3,181,970 100% 362,486 100% 362,486 100% 362,486
Dec2019 64 410,100 3,537,817 100% 403,024 100% 403,024 100% 403,024
Dec2020 65 410,100 3,599,933 100% 410,100 100% 410,100 100% 410,100
February 2020 Retirement, 3/1/2020 First Payment Date
(1) The first line reflects 12 months of data, January 2002 to December 2002.
Xxxxx/Xxxxxx Consulting ADVANTAGE BANK PLAN YEAR REPORTING
SALARY CONTINUATION PLAN - SCHEDULE A
XXXXX X. XXXXXXXX
EARLY TERMINATION DIABILITY CHANGE OF CONTROL
DOB: 12/28/1962
Plan Anniv Date: 1/1/2003
Retirement Age: 65 Installment Installment Installment
Payments: Monthly Installments Payable Immediately Payable Immediately Payable Immediately
-------------------- -------------------- --------------------
BENEFIT ACCRUAL Based On Based On Based On
PERIOD LEVEL BALANCE Vesting Accrual Vesting Accural Vesting Accural
ENDING AGE (1) (2) (3) (4) (5) (6) (7) (8)
------ --- ------- ------- ------- -------- ------- -------- ------- --------
Dec2002(1) 40 140,900 14,772 0% 0 100% 1,683 100% 1,683
Dec2003 41 140,900 30,770 10% 351 100% 3,505 100% 3,505
Dec2004 42 140,900 48,096 20% 1,096 100% 5,479 100% 5,479
Dec2005 43 140,900 66,861 30% 2,285 100% 7,617 100% 7,617
Dec2006 44 140,900 87,182 40% 3,973 100% 9,932 100% 9,932
Dec2007 45 140,900 109,190 50% 6,219 100% 12,493 100% 12,493
Dec2008 46 140,900 133,025 60% 9,092 100% 15,154 100% 15,154
Dec2009 47 140,900 158,838 70% 12,666 100% 18,095 100% 18,095
Dec2010 48 140,900 186,794 80% 17,023 100% 21,279 100% 21,279
Dec2011 49 140,900 217,070 90% 22,256 100% 24,728 100% 24,728
Dec2012 50 140,900 249,859 100% 28,464 100% 28,464 100% 28,464
Dec2013 51 140,900 285,369 100% 32,509 100% 32,509 100% 32,509
Dec2014 52 140,900 323,827 100% 36,890 100% 36,890 100% 36,890
Dec2015 53 140,900 365,476 100% 41,635 100% 41,635 100% 41,635
Dec2016 54 140,900 410,583 100% 46,773 100% 46,773 100% 46,773
Dec2017 55 140,900 459,433 100% 52,338 100% 52,338 100% 52,338
Dec2018 56 140,900 512,338 100% 58,365 100% 58,365 100% 58,365
Dec2019 57 140,900 569,634 100% 64,892 100% 64,892 100% 64,892
Dec2020 58 140,900 631,685 100% 71,961 100% 71,961 100% 71,961
Dec2021 59 140,900 698,887 100% 79,616 100% 79,616 100% 79,616
Dec2022 60 140,900 771,666 100% 87,907 100% 87,907 100% 87,907
Dec2023 61 140,900 850,486 100% 96,886 100% 96,886 100% 96,886
Dec2024 62 140,900 935,849 100% 106,611 100% 106,611 100% 106,611
Dec2025 63 140,900 1,028,296 100% 117,142 100% 117,142 100% 117,142
Xxxxx/Xxxxxx Consulting ADVANTAGE BANK PLAN YEAR REPORTING
SALARY CONTINUATION PLAN - SCHEDULE A
XXXXX X. XXXXXXXX
EARLY TERMINATION DIABILITY CHANGE OF CONTROL
DOB: 12/28/1962
Plan Anniv Date: 1/1/2003
Retirement Age: 65 Installment Installment Installment
Payments: Monthly Installments Payable Immediately Payable Immediately Payable Immediately
-------------------- -------------------- --------------------
BENEFIT ACCRUAL Based On Based On Based On
PERIOD LEVEL BALANCE Vesting Accrual Vesting Accural Vesting Accural
ENDING AGE (1) (2) (3) (4) (5) (6) (7) (8)
------ --- ------- ------- ------- -------- ------- -------- ------- --------
Dec2026 64 140,900 1,128,416 100% 128,548 100% 128,548 100% 128,548
Dec2027 65 140,900 1,236,846 100% 140,900 100% 140,900 100% 140,900
December 2027 Retirement, 1/1/2028 First Payment Date
(1) The first line reflects 12 months of data, January 2002 to December 2002.
Xxxxx/Xxxxxx Consulting ADVANTAGE BANK PLAN YEAR REPORTING
SALARY CONTINUATION PLAN - SCHEDULE A
D. XXXXXX XXXX
EARLY TERMINATION DIABILITY CHANGE OF CONTROL
DOB: 9/12/1954
Plan Anniv Date: 1/1/2003
Retirement Age: 65 Installment Installment Installment
Payments: Monthly Installments Payable Immediately Payable Immediately Payable Immediately
-------------------- -------------------- --------------------
BENEFIT ACCRUAL Based On Based On Based On
PERIOD LEVEL BALANCE Vesting Accrual Vesting Accural Vesting Accural
ENDING AGE (1) (2) (3) (4) (5) (6) (7) (8)
------ --- ------- ------- ------- -------- ------- -------- ------- --------
Dec2002(1) 48 98,300 22,972 100% 2,617 100% 2,617 100% 2,617
Dec2003 49 98,300 47,851 100% 5,451 100% 5,451 100% 5,451
Dec2004 50 98,300 74,795 100% 8,521 100% 8,521 100% 8,521
Dec2005 51 98,300 103,975 100% 11,845 100% 11,845 100% 11,845
Dec2006 52 98,300 13,557 100% 15,445 100% 15,445 100% 15,445
Dec2007 53 98,300 169,802 100% 19,344 100% 19,344 100% 19,344
Dec2008 54 98,300 206,868 100% 23,566 100% 23,566 100% 23,566
Dec2009 55 98,300 247,010 100% 28,139 100% 28,139 100% 28,139
Dec2010 56 98,300 290,484 100% 33,092 100% 33,092 100% 33,092
Dec2011 57 98,300 337,567 100% 38,455 100% 38,455 100% 38,455
Dec2012 58 98,300 388,557 100% 44,264 100% 44,264 100% 44,264
Dec2013 59 98,300 443,779 100% 50,555 100% 50,555 100% 50,555
Dec2014 60 98,300 503,585 100% 57,368 100% 57,368 100% 57,368
Dec2015 61 98,300 568,354 100% 64,746 100% 64,746 100% 64,746
Dec2016 62 98,300 638,500 100% 72,737 100% 72,737 100% 72,737
Dec2017 63 98,300 714,467 100% 81,391 100% 81,391 100% 81,391
Dec2018 64 98,300 796,740 100% 90,764 100% 90,764 100% 90,764
Sep2019 65 98,300 862,895 100% 98,300 100% 98,300 100% 98,300
September 2019 Retirement, 10/1/2019 First Payment Date
(1) The first line reflects 12 months of data, January 2002 to December 2002.
Xxxxx/Xxxxxx Consulting ADVANTAGE BANK PLAN YEAR REPORTING
SALARY CONTINUATION PLAN - SCHEDULE A
Xxxx X. Xxxxxxxx
EARLY TERMINATION DIABILITY CHANGE OF CONTROL
DOB: 1/7/1954
Plan Anniv Date: 1/1/2003
Retirement Age: 65 Installment Installment Installment
Payments: Monthly Installments Payable Immediately Payable Immediately Payable Immediately
-------------------- -------------------- --------------------
BENEFIT ACCRUAL Based On Based On Based On
PERIOD LEVEL BALANCE Vesting Accrual Vesting Accural Vesting Accural
ENDING AGE (1) (2) (3) (4) (5) (6) (7) (8)
------ --- ------- ------- ------- -------- ------- -------- ------- --------
Dec2002(1) 48 197,400 49,189 0% 0 100% 5,641 100% 5,641
Dec2003 49 197,400 102,461 10% 1,175 100% 11,750 100% 11,750
Dec2004 50 197,400 160,154 20% 3,673 100% 18,366 100% 18,366
Dec2005 51 197,400 222,636 30% 7,659 100% 25,532 100% 25,532
Dec2006 52 197,400 290,304 40% 13,317 100% 33,292 100% 33,292
Dec2007 53 197,400 363,588 50% 20,848 100% 41,696 100% 41,696
Dec2008 54 197,400 442,955 60% 30,478 100% 50,797 100% 50,797
Dec2009 55 197,400 528,909 70% 42,458 100% 60,654 100% 60,654
Dec2010 56 197,400 621,998 80% 57,064 100% 71,330 100% 71,330
Dec2011 57 197,400 722,812 90% 74,602 100% 82,891 100% 82,891
Dec2012 58 197,400 831,995 100% 95,412 100% 95,412 100% 95,412
Dec2013 59 197,400 950,239 100% 108,972 100% 108,972 100% 108,972
Dec2014 60 197,400 1,078,297 100% 123,657 100% 123,657 100% 123,657
Dec2015 61 197,400 1,216,985 100% 139,562 100% 139,562 100% 139,562
Dec2016 62 197,400 1,367,183 100% 156,786 100% 156,786 100% 156,786
Dec2017 63 197,400 1,529,848 100% 175,440 100% 175,440 100% 175,440
Dec2018 64 197,400 1,706,013 100% 195,643 100% 195,643 100% 195,643
Sep2019 65 197,400 1,721,338 100% 197,400 100% 197,400 100% 197,400
January 2019 Retirement, 2/28/2019 First Payment Date
(1) The first line reflects 12 months of data, January 2002 to December 2002.
