Common use of Termination of Participation Clause in Contracts

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunder.

Appears in 51 contracts

Samples: Retirement Agreement (MUNCY COLUMBIA FINANCIAL Corp), Supplemental Executive Retirement Agreement (Farmers & Merchants Bancshares, Inc.), 2022 Supplemental Executive Retirement Plan (CCFNB Bancorp Inc)

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Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals prohibit the Executive from making any additional Deferrals hereunder.

Appears in 12 contracts

Samples: Deferred Compensation Agreement (LINKBANCORP, Inc.), Deferred Compensation Agreement (LINKBANCORP, Inc.), Deferred Compensation Agreement (LINKBANCORP, Inc.)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease prohibit any further benefit accruals hereundercrediting to the Deferral Account.

Appears in 11 contracts

Samples: Deferred Compensation Agreement (Peapack Gladstone Financial Corp), Deferred Compensation Agreement (Peapack Gladstone Financial Corp), Deferred Compensation Agreement (Peapack Gladstone Financial Corp)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals prohibit any additional Contributions hereunder.

Appears in 3 contracts

Samples: Deferred Compensation Agreement (Orrstown Financial Services Inc), Deferred Compensation Agreement (Orrstown Financial Services Inc), Deferred Compensation Agreement (Orrstown Financial Services Inc)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunderdiscontinue Contributions under this Agreement.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Plan (PB Bankshares, Inc.), Supplemental Executive Retirement Plan (PB Bankshares, Inc.), Supplemental Executive Retirement Plan (PB Bankshares, Inc.)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals terminate the Executive’s participation hereunder.

Appears in 2 contracts

Samples: Split Dollar Life Insurance Agreement (WVS Financial Corp), Split Dollar Life Insurance Agreement (WVS Financial Corp)

Termination of Participation. If the Administrator determines in good faith that the Executive Director no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals prohibit any additional Contributions hereunder.

Appears in 2 contracts

Samples: Director Deferred Fee Agreement (Riverview Financial Corp), Director Deferred Fee Agreement (Riverview Financial Corp)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals prohibit the Executive from receiving any additional Contributions hereunder.

Appears in 2 contracts

Samples: Performance Driven Retirement Plan Agreement (Farmers & Merchants Bancshares, Inc.), Performance Driven Retirement Agreement (Community Bankers Trust Corp)

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Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals prohibit the Employer from making any additional Contributions hereunder.

Appears in 2 contracts

Samples: Deferred Compensation Plan (Peoples Financial Services Corp.), Deferred Compensation Plan # (Peoples Financial Services Corp.)

Termination of Participation. If the Administrator determines in good faith that the an Executive no longer qualifies as a member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Section 201(2) of ERISA, the Administrator shall have the right, in its sole discretionmay, to cease the extent permitted by Section 409A, preclude the Executive from further benefit accruals hereunderparticipation in the Plan.

Appears in 1 contract

Samples: Non Qualified (QCR Holdings Inc)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunderprohibit the Executive from making any additional Deferrals hereunder effective the beginning of the Plan Year following the Plan Year in which the Administrator makes its determination.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Riverview Financial Corp)

Termination of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunderprohibit the Executive from making additional deferrals hereunder in future Plan Years.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.)

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