Aggregation of Employers. If the Bank is a member of a controlled group of corporations or a group of trades or business under common control (as described in Code §414(b) or (c) (but substituting a fifty percent (50%) ownership level for the eighty percent (80%) ownership level set forth in those Sections)), all members of the group shall be treated as a single employer for purposes of whether there has occurred a Termination of Employment and for any other purposes under the Agreement as Section 409A shall require.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Agreement (Fairfield County Bank Corp.), Supplemental Executive Retirement Agreement (Fairfield County Bank Corp.), Supplemental Executive Retirement Agreement (Fairfield County Bank Corp.)
