Common use of Plan Eligibility Clause in Contracts

Plan Eligibility. You will be eligible to participate in the 401(k) Plan of the Company or Plumas Bank’s, as determined by Plumas Bank. ● Bonus: Potential to earn under Plumas Bank’s non-equity incentive plan, up to a target cash bonus of 2.55% of the officers’ bonus pool as described in the Company’s December 20, 2024, 8-K SEC filing. Incentive payment would be adjusted for start date and based on your individual goal achievement and the Company’s performance. Paid annually less statutory taxes and applicable deductions. ● Outstanding equity awards of the Current Employer: Any outstanding equity awards that you hold of the Current Employer will be treated as specified in the Merger Agreement.

Appears in 1 contract

Sources: Employment Agreement (Plumas Bancorp)

Plan Eligibility. You will be eligible to participate in the 401(k) Plan of the Company or Plumas Bank’s, as determined by Plumas Bank. ● Bonus: Potential to earn under Plumas Bankthe Company’s non-equity incentive plan, up to a target cash bonus of 2.55% of the officers’ bonus pool as described in the Company’s December 20, 2024, 8-K SEC filing. Incentive payment would be adjusted for start date and based on your individual goal achievement and the Company’s performance. Paid annually less statutory taxes and applicable deductions. ● Outstanding equity awards of the Current Employer: Any outstanding equity awards that you hold of the Current Employer will be treated as specified in the Merger Agreement.

Appears in 1 contract

Sources: Employment Agreement (Plumas Bancorp)