Common use of Bank Contributions Clause in Contracts

Bank Contributions. This is a non-elective, account balance deferred compensation agreement. Provided this Agreement is not earlier terminated under the terms and conditions herein and the Executive remains employed with the Bank, the Bank will credit the Executive’s Deferral Account with a total of twenty-four (24) Bank Contributions, each in an amount equal to no less than Sixty-Six Thousand Two Hundred Thirty-Two Dollars ($66,232.00), for a total Bank Contribution of One Million Five Hundred Eighty-Nine Thousand Five Hundred Sixty-Eight Dollars ($1,589,568.00.00). The first such contribution shall be made within 30 days following the Effective Date. Subsequent contributions will be made in January of each year from 2024 through 2046 in an amount to be determined by the Bank in its discretion after review of the Executive’s compensation and other information deemed pertinent by the Bank, but, unless and until this Agreement is amended, shall be no less than $66,232.00. The Bank may, in its sole discretion, credit additional contributions to the Executive’s Deferral Account at any time and for any reason. All Bank Contributions, except for interest, will cease immediately upon an event described under either Table A or B, or upon termination of the Agreement pursuant to Section 4.2 or Article 7. Interest continues to be credited until the Deferral Account balance reaches zero.

Bank Contributions. This is a non-elective, account balance deferred compensation agreement. Provided this Agreement is not earlier terminated under the terms and conditions herein and the Executive remains employed with the Bank, the Bank will credit the Executive’s Deferral Account with a total of twenty-four eleven (2411) Bank Contributions, each in an amount equal to no less than Sixty-Six One Hundred Ninety Nine Thousand Two Hundred Thirty-Two Fifteen Dollars ($66,232.00199,015.00), for a total Bank Contribution of One Two Million Five Hundred EightyEight-Nine Thousand Five One Hundred Sixty-Eight Five Dollars ($1,589,568.00.002,189,165.00). The first such contribution shall be made within 30 days following the Effective Date. Subsequent contributions will be made in January of each year from 2024 through 2046 2033 in an amount to be determined by the Bank in its discretion after review of the Executive’s compensation and other information deemed pertinent by the Bank, but, unless and until this Agreement is amended, shall be no less than $66,232.00199,015.00. The Bank may, in its sole discretion, credit additional contributions to the Executive’s Deferral Account at any time and for any reason. All Bank Contributions, except for interest, will cease immediately upon an event described under either Table A or B, or upon termination of the Agreement pursuant to Section 4.2 or Article 7. Interest continues to be credited until the Deferral Account balance reaches zero.