Common use of Benefit Computation Base Clause in Contracts

Benefit Computation Base. The Executive's Benefit Computation Base ------------------------ shall be the average of the Executive's annual base salary (including any salary reduction amounts pursuant to Sections 401(k) or 125 of the Internal Revenue Code of 1986, as amended) paid during the thirty-six (36) consecutive calendar months during the Executive's period of employment by the Corporation in which such compensation is the highest.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (1855 Bancorp), Supplemental Executive Retirement Agreement (Sandwich Bancorp Inc)

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Benefit Computation Base. The Executive's Benefit Computation Base shall ------------------------ shall be the average of the Executive's annual base salary (including any salary reduction amounts pursuant to Sections 401(k) or 125 of the Internal Revenue Code of 1986, as amended) paid during the thirty-six (36) consecutive calendar months during the Executive's period of employment by the Corporation in which such compensation is the highest.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (1855 Bancorp), Supplemental Executive Retirement Agreement (Sandwich Bancorp Inc)

Benefit Computation Base. The Executive's Benefit Computation Base ------------------------ shall be the average of the Executive's annual base salary compensation (including base salary, bonus, and any salary reduction amounts pursuant to Sections 401(k) or 125 of the Internal Revenue Code of 1986, as amended) paid during the thirty-six (36) consecutive calendar months during the Executive's period of employment by the Corporation in which such compensation is the highest.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Beverly National Corp)

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Benefit Computation Base. The Executive's Benefit Computation Base ------------------------ shall be the average of the Executive's annual base salary compensation (including base salary, bonus, and any salary reduction amounts pursuant to Sections 401(k) or 125 of the Internal Revenue Code of 1986, as amended) paid during the thirty-thirty- six (36) consecutive calendar months during the Executive's period of employment by the Corporation in which such compensation is the highest.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Beverly National Corp)

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