Common use of Disposition Welfare Benefit and Code Section 125 Plans Clause in Contracts

Disposition Welfare Benefit and Code Section 125 Plans. All welfare benefit (health, dental/vision, life/accidental death and dismemberment and long term disability), and Code Section 125, or “cafeteria,” plans currently sponsored by Cheviot Financial shall continue as separate plans after the Effective Time, until such time as MainSource determines, in its sole discretion, that it will terminate any or all of such plans. As of the Effective Time Cheviot Financial shall take, or cause to be taken, all actions necessary to assign any and all applicable group insurance policies to MainSource and to provide MainSource all necessary financial, enrollment, eligibility, contractual and other information related to its welfare benefit and cafeteria plans to assist MainSource in the administration of such plans. From the date of this Agreement through the Effective Time, Cheviot Financial shall continue to: (i) pay the applicable insurance premiums necessary to continue the benefits under Cheviot Financial’s fully insured welfare benefit plans; (iii) accrue, as an expense, in accordance with past practice, monthly amounts to be used to satisfy claims under any self-insured welfare benefit plan and (iii) contribute to the cafeteria plan the pre-tax amounts which the cafeteria plan participants elect to defer from their compensation. As of the date of any future termination of the Cheviot Financial cafeteria plan, the balances in any health and dependent care flexible spending accounts thereunder shall be transferred to the MainSource cafeteria plan, and the benefit and compensation deferral elections in effect at that time shall be continued under the MainSource cafeteria plan, subject to subsequent changes as provided in the MainSource plan. All benefit payments related to the transferred balances shall be made in accordance with the MainSource cafeteria plan.

Disposition Welfare Benefit and Code Section 125 Plans. All welfare benefit (health, dental/vision, life/accidental death and dismemberment and long term disabilityAD&D, LTD), and Internal Revenue Code Section 125, or “cafeteria,” plans currently sponsored by Cheviot Financial TFC shall continue as separate plans after the Effective Time, until such time as MainSource ONB determines, in its sole discretion, that it will terminate any or all of such plans. As of the Effective Time Cheviot Financial TFC shall take, or cause to be taken, all actions necessary to assign any and all applicable group insurance policies to MainSource ONB and to provide MainSource ONB all necessary financial, enrollment, eligibility, contractual and other information related to its welfare benefit and cafeteria plans to assist MainSource ONB in the administration of such plans. From the date of this Agreement through the Effective Time, Cheviot Financial Time TFC shall continue to: (i) pay the applicable insurance premiums necessary to continue the benefits under Cheviot FinancialTFC’s fully insured welfare benefit plans; (iii) accrue, as an expense, in accordance with past practice, monthly amounts to be used to satisfy claims under any its self-insured welfare benefit plan dental and short-term disability plans and (iii) contribute to the cafeteria plan the pre-tax amounts which the cafeteria plan participants elect to defer from their compensation. As of the date of any future termination of the Cheviot Financial TFC cafeteria plan, the balances in any the health and dependent care flexible spending accounts thereunder shall be transferred to the MainSource ONB cafeteria plan, and the benefit and compensation deferral elections in effect at that time shall be continued under the MainSource ONB cafeteria plan, subject to subsequent changes as provided in the MainSource ONB plan. All benefit payments related to the transferred balances shall be made in accordance with the MainSource ONB cafeteria plan.

Disposition Welfare Benefit and Code Section 125 Plans. All welfare benefit (health, dental/vision, life/accidental death and dismemberment and long term disabilityAD&D, LTD), and Internal Revenue Code Section 125, or “cafeteria,” plans currently sponsored by Cheviot Financial MBT shall continue as separate plans after the Effective Time, until such time as MainSource determines, in its sole discretion, that it will terminate any or all of such plans. As of the Effective Time Cheviot Financial MBT shall take, or cause to be taken, all actions necessary to assign any and all applicable group insurance policies to MainSource and to provide MainSource all necessary financial, enrollment, eligibility, contractual and other information related to its welfare benefit and cafeteria plans to assist MainSource in the administration of such plans. From the date of this Agreement through the Effective Time, Cheviot Financial MBT shall continue to: (i) pay the applicable insurance premiums necessary to continue the benefits under Cheviot FinancialMBT’s fully insured welfare benefit plans; (iii) accrue, as an expense, in accordance with past practice, monthly amounts to be used to satisfy claims under any self-insured welfare benefit plan and (iii) contribute to the cafeteria plan the pre-tax amounts which the cafeteria plan participants elect to defer from their compensation. As of the date of any future termination of the Cheviot Financial MBT cafeteria plan, the balances in any health and dependent care flexible spending accounts thereunder shall be transferred to the MainSource cafeteria plan, and the benefit and compensation deferral elections in effect at that time shall be continued under the MainSource cafeteria plan, subject to subsequent changes as provided in the MainSource plan. All benefit payments related to the transferred balances shall be made in accordance with the MainSource cafeteria plan.