Common use of Benefits Tables Clause in Contracts

Benefits Tables. The following tables describe the benefits available to the Executive upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Except for death, each benefit described is in lieu of any other benefit herein. Separation from Service following Normal Retirement Age An annual amount equal to twenty-five percent (25%) of the Executive’s annualized base salary, as provided by the Bank’s payroll department, for the calendar year in which the Executive attained their Normal Retirement Age Annual benefit payment Payments shall begin within thirty (30) days following Separation from Service and shall be payable on the same date each year thereafter for the duration.Duration: Fifteen (15) years Voluntary Separation from Service Vested Benefit of the Accrued Liability Balance as of effective date of Separation from Service Lump sum Payment shall be made within thirty (30) days following Separation from Service Involuntary Separation from Service without Cause Vested Benefit of the Accrued Liability Balance as of effective date of Separation from Service Lump sum Payment shall be made within thirty (30) days following Separation from Service Change in Control followed within twenty-four (24) months by the Executive’s Separation from Service Present Value of the Table A Retirement Benefit Lump sum Payment shall be made within thirty (30) days following Separation from Service Disability Vested Benefit of the Accrued Liability Balance as of date effective date of Disability Lump sum Payment shall be made within thirty (30) days following Disability

Benefits Tables. The following tables describe the benefits available to the Executive Executive, or the Executive’s Beneficiary, upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Except for death, each Each benefit described is in lieu of any other benefit herein, except as expressly stated otherwise. Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Separation from Service following Normal Retirement Age An attainment of age 67 $50,000.00 per year Equal annual amount equal to twenty-five percent (25%) installments Payments begin: First day of the Executive’s annualized base salary, as provided by the Bank’s payroll department, for the calendar year in which the Executive attained their Normal Retirement Age Annual benefit payment Payments shall begin within thirty (30) days first month following Separation from Service and shall be payable on the same date each year subsequent anniversary thereafter for the duration.DurationDuration of payments: Fifteen (1510 years Note: Payment subject to delay pursuant to Section 9.14(b) years Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Voluntary Separation from Service Vested prior to age 67 An amount equal to the vested Accrued Liability Balance, subject to the following vesting schedule: Executive shall vest in the Accrued Liability Balance at the rate of 20% per Year of Plan Participation, commencing with the Effective Date of this Agreement, until 100% vested at the end of 5 Years of Plan Participation. Lump sum Payment begins: on the date that is the first anniversary of Separation from Service Note: payment subject to delay pursuant to Section 9.14(b) Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Involuntary Separation from Service without Cause prior to age 67 100% of the Accrued Liability Balance Balance, as of effective the date of Separation from Service Lump sum Payment shall be made within thirty (30) days following begins: on the date that is the first anniversary of Separation from Service Note: payment subject to delay pursuant to Section 9.14(b) Change in Control prior to age 67 followed within 12 months by: (i) Involuntary Separation from Service without Cause Vested Benefit or (ii) Separation from Service for “Good Reason” 100% of the Accrued Liability Balance Balance, calculated as of effective if Executive had attained age 67 while employed by the Bank, and discounted back to the date of Separation from Service Lump sum Payment shall be made within thirty (30) days following Separation from Service Change in Control followed within twenty-four (24) months by the Executive’s Separation from Service Present Value of at the Table A Retirement Benefit rate in effect under the Agreement at that time. Lump sum Payment shall be made within thirty (30) days begins: First day of the month following Separation from Service ServiceNote: Payment subject to delay pursuant to Section 9.14(b) Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Disability Vested Benefit prior to age 67 100% of the Accrued Liability Balance Balance, calculated as of date effective date of Disability Lump Select one: ☒ lump sum Payment shall Payments begin: First day of the month following Disability or ☐ Equal annual installments for 1 years (not to exceed 10) If payable in annual installments, each subsequent payment will be made within thirty (30) days following Disabilityon the anniversary of the first payment