Common use of Discretionary Action Clause in Contracts

Discretionary Action. Wherever, under the provisions of this Plan, the Plan Administrator is given any discretionary power or powers, such power or powers shall not be exercised in such manner as to cause any discrimination prohibited by the Code in favor of or against any Member, Employee or class of Employees. Any discretionary action taken by the Plan Administrator hereunder shall be consistent with any prior discretionary action taken by it under similar circumstances and to this end the Plan Administrator shall keep a record of all discretionary action taken by it under any provision hereof.

Appears in 21 contracts

Samples: Adoption Agreement (Sugar Creek Financial Corp./Md/), Adoption Agreement (Cape Bancorp, Inc.), Adoption Agreement (Ottawa Savings Bancorp, Inc.)

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Discretionary Action. Wherever, Wherever under the provisions of this Plan, Agreement the Plan Administrator is given any discretionary power or powers, ; such power or powers shall not be exercised in such manner as to cause any discrimination prohibited by the Code in favor of or against any Member, Employee or class of Employees. Any discretionary action taken by the Plan Administrator hereunder shall be consistent to the maximum extent practicable with any prior discretionary action taken by it under similar circumstances and to this end the Plan Administrator shall keep a record of all discretionary action taken by it them under any provision hereof.

Appears in 1 contract

Samples: Adoption Agreement (Valley National Bancorp)

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