United National Bank & Trust Co. Salary Continuation Agreement Schedule for James J. Pennetti
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Summary
This schedule is part of a Salary Continuation Agreement between United National Bank & Trust Co. and executive James J. Pennetti. It outlines the annual accrual balances, vesting percentages, and projected retirement benefits payable to Mr. Pennetti under various scenarios, including early termination, disability, and change in control. The agreement specifies the amounts and timing of benefits based on years of service and age, with full vesting achieved after 30 years of service. Payments are structured to begin at retirement and continue monthly, with specific lump sum and annual benefit amounts detailed for each year.
EX-10.7 5 l90603aex10-7.txt EXHIBIT 10.7 Exhibit 10.7 SCHEDULE A UNITED NATIONAL BANK & TRUST CO. SALARY CONTINUATION AGREEMENT JAMES J. PENNETTI
(1) The Accrual Balance reflects payment at the beginning of each month during retirement. (2)Benefit is based on present value of the current payment stream of the vested accrual balance using a standard discount rate (7.50%). (3)Mr. Pennetti becomes 100% vested in the Early Termination Benefit upon reaching 30 years of service on May 22, 2002. (4)Reflects 12 months data prior to projected retirement in April 2015.