Common use of Amount of Benefit Clause in Contracts

Amount of Benefit. The benefit under this Section 2.4 is the Change in 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.

Appears in 11 contracts

Samples: Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/)

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Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 8 contracts

Samples: Continuation Agreement (Heritage Oaks Bancorp), Continuation Agreement (Heritage Oaks Bancorp), Continuation Agreement (Heritage Oaks Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Lump Sum 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)occurs, determined by vesting the Executive one hundred percent (100%) in the present value of the stream of payments of the Normal Retirement Benefit described in Section 2.1.1 calculated 2.1. Any increase in the annual benefit under Section 2.1 shall require the recalculation of this benefit as if the Executive had remained employed by the Company until the Normal Retirement Age.set forth in Schedule A.

Appears in 7 contracts

Samples: Continuation Agreement (Temecula Valley Bancorp Inc), Continuation Agreement (Temecula Valley Bancorp Inc), Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit annual Installment set forth in on 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 6 contracts

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc), Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc), Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in 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)occurs, determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if Level for the Executive had remained employed by the Company until the Normal Retirement Agecurrent Plan Year.

Appears in 5 contracts

Samples: Continuation Agreement (Vib Corp), Continuation Agreement (Vib Corp), Continuation Agreement (Vib Corp)

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in Control Annual Benefit set forth in on Schedule A for the Plan Year ending that ended immediately prior to the date in on which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until present value of the Normal Retirement AgeBenefit, discounted using a 4.00% discount rate, which is the rate used to project salary increases.

Appears in 5 contracts

Samples: Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.), Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.), Supplemental Executive Retirement Agreement (New North Penn Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Lump Sum 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)occurs, determined by vesting the Executive in the present value of the stream of payments of the Normal Retirement Benefit described in Section 2.1.1 calculated 2.1. Any increase in the annual benefit under Section 2.1 shall require the recalculation of this benefit as if the Executive had remained employed by the Company until the Normal Retirement Age.set forth in Schedule A.

Appears in 4 contracts

Samples: Continuation Agreement (Temecula Valley Bancorp Inc), Continuation Agreement (Temecula Valley Bancorp Inc), Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Lump Sum 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)occurs, determined by vesting the Executive in the Normal Retirement Benefit described Accrual Balance. Any increase in the annual benefit under Section 2.1.1 calculated 2.1 shall require the recalculation of this benefit as if the Executive had remained employed by the Company until the Normal Retirement Age.set forth in Schedule A.

Appears in 4 contracts

Samples: Continuation Agreement (Temecula Valley Bancorp Inc), Continuation Agreement (Temecula Valley Bancorp Inc), Continuation Agreement (Temecula Valley Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 4 contracts

Samples: Continuation Agreement (Premier Commercial Bancorp), Continuation Agreement (Premier Commercial Bancorp), Continuation Agreement (Premier Commercial Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to during which the date Change in which Termination of Employment occurs (except during the first Plan Year, the Control occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.

Appears in 4 contracts

Samples: Continuation Agreement (Greer Bancshares Inc), Employment Agreement (Greer Bancshares Inc), Continuation Agreement (Greer Bancshares Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit Installment benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in which Executive’s Termination of Employment occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), . The Change of Control benefit is determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit annual installment set forth in on 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 the projected Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 3 contracts

Samples: Continuation Agreement (Community Capital Corp /Sc/), Continuation Agreement (Community Capital Corp /Sc/), Continuation Agreement (Community Capital Corp /Sc/)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit amount set forth in on 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 one hundred percent (100%) in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 3 contracts

Samples: Agreement (FNB Bancorp/Ca/), Agreement (FNB Bancorp/Ca/), Agreement (FNB Bancorp/Ca/)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit annual Installment set forth in on 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 3 contracts

Samples: Continuation Agreement (Beverly National Corp), Continuation Agreement (Beverly National Corp), Salary Continuation Agreement (Beverly National Corp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on 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)occurs, determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1. An increase in the annual benefit under Section 2.1.1 calculated as if shall require the Executive had remained employed by recalculation of the Company until the Normal Retirement Age.Change of Control benefit on Schedule A.

Appears in 3 contracts

Samples: Continuation Agreement (Madison County Financial, Inc.), Continuation Agreement (Madison County Financial, Inc.), Salary Continuation Agreement (Madison County Financial, Inc.)

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.Change of Control benefit set forth on such Schedule A.

Appears in 3 contracts

Samples: Park National Corp /Oh/, Vision Bancshares Inc, Park National Corp /Oh/

Amount of Benefit. The annual benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement AgeProjected Benefit.

Appears in 2 contracts

Samples: Continuation Agreement (Heartland Bancshares Inc/Fl), Continuation Agreement (Heartland Bancshares Inc/Fl)

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to during which the date in which Executive’s Termination of Employment occurs (except during occurs; provided however, that in no event shall such annual benefit be less than the first Plan Year, Change of Control Benefit set forth on the Exhibit A attached to the Second Amendment to the Agreement. The benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred (100%) in the Normal Retirement Change of Control Benefit described in this Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.5.1.

Appears in 2 contracts

Samples: Park National Corp /Oh/, Park National Corp /Oh/

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement AgeLevel.

Appears in 2 contracts

Samples: FSB Salary Continuation Agreement (Park National Corp /Oh/), Continuation Agreement (Park National Corp /Oh/)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to during which the date in which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.

Appears in 2 contracts

Samples: Employment Agreement (Greer Bancshares Inc), Salary Continuation Agreement (Greer Bancshares Inc)

Amount of Benefit. The annual benefit under this Section 2.4 2.5 is the Change in 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 occurs. (except during the first Plan Year, the benefit The Change of Control Annual Benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by date of the Company until Termination of Employment was the Executive's Normal Retirement AgeDate.)

Appears in 2 contracts

Samples: Continuation Agreement (Southern Community Bancorp), Continuation Agreement (Southern Community Bancorp)

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Amount of Benefit. The benefit under this Section 2.4 is the Change in 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 the Normal Retirement Benefit described Amount. Any increase in Section 2.1.1 calculated as if the Executive had remained employed by Benefit Amount would require the Company until recalculation of the Normal Retirement Age.Change of Control Annual Benefit on Schedule A.

Appears in 2 contracts

Samples: Continuation Agreement (Dutchfork Bancshares Inc), Continuation Agreement (Dutchfork Bancshares Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in Control Annual Benefit amount set forth in on Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment the Separation from Service occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined except by vesting the Executive Director one hundred percent (100%) in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 2 contracts

Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)

Amount of Benefit. The annual benefit under this Section 2.4 is the Change in Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if 2.1.1. For purposes of the Change in Control Benefit, the Executive had remained employed by shall be deemed to have attained age 65 and completed 15 Years of Service as of the Company until effective date of the Normal Retirement AgeChange in Control, regardless of actual age or service completed as of such date.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Peoples Federal Bancshares, Inc.), Salary Continuation Agreement (Peoples Federal Bancshares, Inc.)

Amount of Benefit. The benefit benefit, under this Section 2.4 is the Change in 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 one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1. Any increase in the annual benefit under Section 2.1.1 calculated as if would require the Executive had remained employed by recalculation of the Company until the Normal Retirement Age.Change of Control benefit on Schedule A.

Appears in 2 contracts

Samples: Agreement (Oak Valley Bancorp), Agreement (Oak Valley Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Yearoccurs. This benefit, the benefit as provided in Schedule A, is the amount set forth for Plan Year 1), determined by vesting the Executive in 100% of the Normal Retirement Benefit amount described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 1 contract

Samples: Continuation Agreement (Central Federal Corp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in 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 the Normal Retirement Benefit described in Section 2.1.1 -Benefit Amount calculated as if the Executive had remained employed by in the employment of the Company until the Normal Retirement Age.

Appears in 1 contract

Samples: Continuation Agreement (Southern Community Bancorp)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if present value of the Executive had remained employed by the Company until the Accrual Balance projected to Normal Retirement Age.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan (Porter Bancorp, Inc.)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit 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 occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement AgeAccount Value.

Appears in 1 contract

Samples: Salary Continuation Agreement (Fidelity Federal Bancorp)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on Schedule A for the Plan Year ending immediately prior to the date in during which Termination of Employment occurs (except during the first Plan Year, the occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in one hundred percent (100%) of the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement AgeBenefit.

Appears in 1 contract

Samples: Continuation Agreement (ISB Financial Corp.)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in Schedule A for the Plan Year ending immediately prior to the date in which Termination of Employment Service occurs (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1), determined by vesting the Executive Director in the Normal Retirement Benefit described Amount. Any increase in Section 2.1.1 calculated as if the Executive had remained employed by Benefit Amount would require the Company until recalculation of the Normal Retirement Age.Change of Control Annual Benefit on Schedule A.

Appears in 1 contract

Samples: Dutchfork Bancshares Inc

Amount of Benefit. The benefit under this Section 2.4 is the Change in Control Annual Benefit of Controlannual Installment set forth in on 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 the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 1 contract

Samples: Elgin Financial Savings Bank Supplemental Executive Retirement Agreement (Efc Bancorp Inc)

Amount of Benefit. The benefit under this Section 2.4 is the Change in of Control Annual Benefit set forth in on 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 occurs. This benefit is the amount set forth for Plan Year 1), determined by vesting the Executive in the Normal Retirement Benefit described in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age2.1.1.

Appears in 1 contract

Samples: Agreement (New Peoples Bankshares Inc)

Amount of Benefit. The benefit under this Section 2.4 2.5 is the annual Change in of Control Annual Benefit Installment as defined and set forth in on Schedule A for the Plan Year month 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)occurs, determined by vesting the Executive in the Normal Retirement Benefit described set forth in Section 2.1.1 calculated as if the Executive had remained employed by the Company until the Normal Retirement Age.Age had been reached as of the date of the Change of Control. An increase in the annual benefit under Section 2.1.1 prior to Normal Retirement Age would require the recalculation of this Change of Control benefit on Schedule A.

Appears in 1 contract

Samples: Dollar Agreement (East West Bancorp Inc)

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