Supplemental Executive Retirement Plan Benefit Schedule between CNB Financial Corporation and Leanne Kassab
This agreement outlines the supplemental executive retirement benefits for Leanne Kassab from CNB Financial Corporation. Upon reaching the normal retirement age of 62, Ms. Kassab will receive an annual benefit of $80,314, paid over 20 years. The schedule details the calculation of accrued benefits for each plan year, with payments to be made in equal installments. Both parties signed the agreement on October 1, 2023.
Exhibit 10.9
SCHEDULE A
CNB FINANCIAL CORPORATION
Supplemental Executive Retirement Plan
Benefit Schedule for Leanne Kassab
| Normal Retirement Benefit (payable annually) | $ | 80,314 | ||
| Term for Payment of Normal Retirement Benefit | 20 Years | |||
| Normal Retirement Age | 62 |
Calculation of Accrued Benefit1:
| Plan Year | December 31 Accrued Benefit | |||
| Plan Years Ending on December 31, 2023 | $ | 7,786.00 | ||
| January 1 – December 31, 2024 | $ | 540,897.00 | ||
| January 1 – December 31, 2025 | $ | 1,073,733.00 | ||
| January 1 – December 31, 2026 and all subsequent Plan years | $ | 1,606,282.00 | ||
| LEANNE KASSAB | ||
| By: | /s/ Leanne Kassab | |
| Date: | October 1, 2023 | |
| CNB FINANCIAL CORPORATION | ||
| By: | /s/ Michael D. Peduzzi | |
| Name: | Michael D. Peduzzi | |
| Title: | President & CEO | |
| Date: | October 1, 2023 | |
| 1 | Accrued Benefit (calculated as set forth herein) to be divided by twenty (20) and paid over a term of twenty (20) years. |
