Average Annual Compensation. The average of a Participant’s annual Compensation as defined in paragraph 1.16 of this Basic Plan Document #01, over the three (3) consecutive Plan Year period ending in either the current year or any prior year that produces the highest average. If the Participant has fewer than three (3) years of participation in this Plan, Compensation is averaged over the Participant’s total period of participation.
Appears in 7 contracts
Samples: Prototype Defined Contribution Plan (United Community Bancorp), Prototype Defined Contribution Plan (Georgetown Bancorp, Inc.), Prototype Defined Contribution Plan (FNB United Corp.)
Average Annual Compensation. The average of a Participant’s 's annual Compensation as defined in paragraph 1.16 of this Basic Plan Document #01, over the three (3) consecutive Plan Year period ending in either the current year or any prior year that produces the highest average. If the Participant has fewer than three (3) years of participation in this Plan, Compensation is averaged over the Participant’s 's total period of participation.
Appears in 5 contracts
Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Nonstandardized Adoption Agreement (Felcor Lodging Trust Inc), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)
