Accrued Benefit

Accrued Benefit. The benefit amount the Participant would be entitled to under Section 3.1, commencing at his Normal Retirement Date. If the Participant Separates from Service with the Corporation for any reason prior to his Normal Retirement Date, in calculating his Accrued Benefit, (i) the offset for Primary Social Security retirement benefit shall be calculated on the basis of the amount projected to be payable at the Participant's Social Security normal retirement age assuming continued earnings by the... Participant at the rate in effect at Separation from Service until the Participant's Social Security normal retirement age; (ii) the offset for the Qualified Plan or any other qualified defined benefit plan shall be calculated on the basis of the Participant's accrued benefit in said plan upon Separation from Service projected to be payable at the Participant's Normal Retirement Date; and (iii) the offset for any other non-qualified supplemental retirement plan shall be calculated on the basis of the Participant's accrued benefit in said plan upon Separation from Service projected to be payable at the Participant's Normal Retirement Date. View More

Accrued Benefit. 70% of the Executive's Final Average Salary, multiplied by the Executive's Non-forfeitable Percentage set forth in Paragraph 2(b) if the Executive has less than 8 years of service.

Accrued Benefit. Means a Participant's total benefit under Section 3.1 of the Plan as of January 1, 2003, expressed in the form of a fixed number of shares of Common Stock, which number of shares shall be determined by the Committee in its sole discretion using reasonable assumptions applied in a consistent manner for all affected Participants.

Accrued Benefit. The sum of all Deferred Amounts credited to the Participant's Deferred Income Account and due and owing to the Participant or his beneficiaries pursuant to this Plan, together with Investment Returns thereon calculated as set forth in paragraph 4 hereof, minus any distributions hereunder.

Accrued Benefit. Means a benefit equal to the product of a Participant's Normal Retirement Benefit, as determined in Paragraph 6.1 hereinbelow, and a fraction, the numerator of which is the number of years (with proportionate allowances for completed months) of Service completed by the Participant at the date the determination is made and the denominator of which is the number of years (with proportionate allowances for completed months) of Service the Participant could complete if he continued to serve as an... Executive until his Normal Retirement Age, provided that a Participant's Accrued Benefit at any time after his Normal Retirement Age shall be the same as his Accrued Benefit at his Normal Retirement Age. View More

Accrued Benefit. Means the gross annual payment equal to twenty-five percent (25%) of the Executive's Final Average Compensation multiplied by the Executive's Non-forfeitable Percentage set forth in Section 2(b).

Accrued Benefit. Means at any given time the benefit calculated in accordance with the formula in Section 3, using the Participant's Eligible Earnings and Credited Service as of the date the calculation is being made. The benefit so calculated shall be the benefit that would commence under the basic method of payment on the Participant's Normal Retirement Date.

Accrued Benefit. The vested portion of a Participant's Normal Retirement Benefit, determined in accordance with Plan Section 5, as of the date the Participant separates from service with the Bank.

Accrued Benefit. Accrued Benefit means, at any time, the benefit computed in accordance with Section 4.1, expressed as a single-life annuity commencing at Normal Retirement Date.

Accrued Benefit. Any earned but unpaid Base Salary, unpaid expense reimbursements, accrued but unused vacation and any vested benefits the Covered Executive may be entitled to under any employee benefit plan of the Company