Accrued Benefit Percentage

Accrued Benefit Percentage. Shall mean, except as otherwise provided in this Agreement, 2.5% for each full calendar quarter of the Executive's employment with the Bank since January 1, 2002, calculated through the last day of the calendar quarter in which the Executive (i) experiences a Separation from Service or (ii) attains the Normal Retirement Date, whichever shall first occur; provided, however, that in no event shall the Accrued Benefit Percentage exceed 60%.

Accrued Benefit Percentage. .25% for each of the first 60 calendar quarters that the Executive has heretofore been or is hereinafter employed by the Company any of its subsidiaries (or any predecessors or successors thereto by merger or purchase) plus .875% for each calendar quarter of employment thereafter, calculated through the last day of the calendar quarter in which the Executive (i) experiences a Separation from Service or (ii) attains Normal Retirement Age, whichever shall first occur. There shall be no... duplication of the Accrued Benefit Percentage for service with more than one employer. View More