Benefit Increases. Commencing on the first anniversary of the first benefit payment and continuing on each subsequent anniversary of that date, this annual benefit shall increase by three percent (3%) from the immediately preceding anniversary date.
Appears in 4 contracts
Sources: Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc)
Benefit Increases. Commencing on the first anniversary of the first benefit payment payment, and continuing on each subsequent anniversary of that dateanniversary, this annual the benefit shall be increased by the percentage increase by three percent (in the Consumer Price Index for the calendar year ending immediately prior to said anniversary date for the same period with a minimum annual increase of 3% and a maximum annual increase of 5%) from the immediately preceding anniversary date.
Appears in 3 contracts
Sources: Salary Continuation Agreement (High Point Financial Corp), Salary Continuation Agreement (High Point Financial Corp), Salary Continuation Agreement (High Point Financial Corp)
Benefit Increases. Commencing on the first anniversary of the first benefit payment and continuing on each subsequent anniversary of that date, this annual benefit shall increase by three percent (3%) from the immediately preceding anniversary date. Sections 2.2.3 and 2.3.3 of the Agreement shall be deleted in their entirety.
Appears in 2 contracts
Sources: Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc)
Benefit Increases. Commencing on the first anniversary of the first benefit payment payment, and continuing on each subsequent anniversary of that dateanniversary, this annual the Company will increase the benefit shall increase by three percent (3%) from the immediately preceding anniversary date).
Appears in 1 contract
Benefit Increases. Commencing on the first anniversary of the first benefit payment payment, and continuing on each subsequent anniversary of that dateanniversary, this annual the benefit shall increase be increased by three percent (3%) from the immediately preceding anniversary date% each year.
Appears in 1 contract
Sources: Salary Continuation Agreement (Centennial First Financial Services)