ERISA PROVISIONS. To the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply. (a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties. (b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement. (c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this Agreement. (d) For purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer. (e) An initial claim for benefits under this Agreement must be made by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claim, the Claims Reviewer shall provide its written decision on the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 90-day period. (f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure. (g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim. (h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 6 contracts
Samples: Split Dollar Life Insurance Agreement (Atlantic Coast Federal Corp), Split Dollar Life Insurance Agreement (Atlantic Coast Federal Corp), Split Dollar Life Insurance Agreement (Atlantic Coast Federal Corp)
ERISA PROVISIONS. To the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this Agreement must be made by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 30 days after receipt of such claim, the Claims Reviewer shall provide its written decision on the claim to the claimant, unless special circumstances require the extension of such 9030-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 9030-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 30 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 30 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 6030-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 6030-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
(i) Any dispute or controversy arising under or in connection with this Agreement which cannot be settled in the manner set forth above in sub-sections (e) through (g) hereof, shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator, mutually acceptable to the Bank and Insured or the Insured's beneficiary, sitting in a location selected by Bank within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American Arbitration Association's National Rules for the Resolution of Employment Disputes ("National Rules") then in effect. Judgment may be entered on the arbitrator's award in any court having jurisdiction.
Appears in 4 contracts
Samples: Split Dollar Life Insurance Agreement (United Financial Bancorp, Inc.), Split Dollar Life Insurance Agreement (United Financial Bancorp Inc), Split Dollar Life Insurance Agreement (United Financial Bancorp, Inc.)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All Bank shall pay all required premiums paid with respect to under the Policy shall be remitted to the Insurer when due in accordance with the Agreementdue.
(c) Benefits Payment by the Insurer is the basis of payment of benefits under this Agreement shall be paid directly by the InsurerAgreement, with those benefits in turn being based on the payment of premiums as provided in this Agreementthe Policy.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "“Claims Reviewer" Manager” shall be the Bank, unless another Chief Executive Officer of Bank or such other person or organizational unit is designated named from time to time by the Bank as Claims Reviewernotice to Insured.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Policy or Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement or Policy provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect the claim; an explanation as to why within such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim60 days, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for deemed denied on review. The action of the Bank shall be in the form of a written notice Claims Manager has discretionary authority to the claimant and its contents shall include all of the requirements determine eligibility for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 3 contracts
Samples: Endorsement Method Split Dollar Agreement (Red River Bancshares Inc), Split Dollar Agreement (Red River Bancshares Inc), Split Dollar Agreement (Red River Bancshares Inc)
ERISA PROVISIONS. To 11.1 The following provisions are intended to meet the requirements of Part 4 of Title I of ERISA to the extent applicable to this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.Agreement:
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all partiesPlan Administrator: The Argo-Tech Corporation Benefits Committee.
(b) All The funding policy is that all premiums paid with respect to on the Policy shall be remitted to the Insurer when due in accordance with the Agreementdue.
(c) Benefits under this Agreement shall be paid directly Direct payment by the InsurerInsurer is the basis of payment of benefits, with those benefits in turn being based on the payment of premiums as provided in this Agreementherein.
(d) For purposes 11.2 The following provisions are intended to meet the requirements of handling claims with respect Part 5 of Title I of ERISA to the extent applicable to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.:
(ea) An initial If for any reason a claim for benefits under this Agreement must be made the Plan is denied by the Insured Company, the Plan Administrator shall deliver to the claimant a written explanation setting forth the specific reasons for the denial, pertinent references to the Plan section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his claim, all written in a manner calculated to be understood by the claimant. For this purpose:
(i) the claimant’s claim shall be deemed filed when presented orally or his beneficiary in accordance with writing to the terms Plan Administrator; and
(ii) the Plan Administrator’s explanation shall be in writing delivered to the claimant within 90 days of the Agreement or policy through which date the benefits are provided. Not later than 90 claim is filed.
(b) The claimant shall have 60 days after following his receipt of such claim, the Claims Reviewer shall provide its written decision on denial of the claim to file with the claimant, unless special circumstances require Plan Administrator a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fc) In The Plan Administrator shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days following his receipt of the claim claimant’s request for review of an Insured or his claims. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in part, the Claims Reviewer's decision written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason pertinent plan provisions on which the decision is based. If a copy of the decision is not furnished to the claimant within such 60 days, the claim shall be deemed denied on review.
11.3 The following provisions are intended, when taken in conjunction with Paragraph 11.4 and the other terms and provisions of this Agreement, including the Assignment and the computer-prepared illustration, to meet the requirements of a summary plan description for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation benefit of the applicable claims procedureParticipant and the beneficiaries pursuant to Part I of Title I of ERISA to the extent applicable.
(ga) Should The plan is a single employer plan sponsored by Argo-Tech Corporation.
(b) The Company’s employer identification number (“EIN”) assigned by the claimant Internal Revenue Service is 06 1100916 and the Plan number assigned by the Company is 010.
(c) The Plan Administrator is The Argo-Tech Benefits Committee, c/o Argo-Tech Corporation, 20000 Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxx 00000 (216/692-5259). The Plan Administrator shall also be dissatisfied with the Claims Reviewer's disposition agent for the service of process at the above address.
(d) The end of the claimPlan year for purposes of keeping Plan records is December 31st of each year.
(e) In order to be eligible to participate in the plan, the claimant may have a full and fair review of the denied claim an employee must be selected by the Bank Company.
11.4 The following is intended to meet the “Statement of ERISA Rights” requirement of Part I of Title I of ERISA to the extent applicable. As a participant in this plan you are entitled to certain rights and protection under ERISA. ERISA provides that all plan participants shall be entitled to:
(a) Examine, without charge, at the Plan Administrator’s office all plan documents, including insurance contracts.
(b) Obtain copies of all plan documents and other plan information upon written request therefore submitted by to the claimant Plan Administrator. The Plan Administrator may make a reasonable charge for the copies.
(c) In addition to creating rights for plan participants, ERISA imposes duties upon the people who are responsible for the operation of this employee benefit plan. The people who operate your plan are called “fiduciaries” of the plan, and have a duty to do so prudently and in the interest of you and other plan participants and beneficiaries. No one, including your employer or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appealany other person, the claimant may fire you or the claimant's duly authorized representative shall be otherwise discriminate against you in any way to prevent you from obtaining your benefits or exercising your rights under ERISA.
(d) You are entitled to receive a written explanation for the denial of your claims and you have the right to have the plan review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day periodreconsider your claim. If such extension is necessary, you do not receive the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim material requested within 120 30 days of the receipt of the claimant's written request for reviewrequest, you may file suit in Federal Court. The action of court may require the Bank shall be in Plan Administrator to pay you up to $100 a day until you receive the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimrequested materials.
(he) In no event may If you are improperly denied a claimant commence legal action claim for benefits you may file suit in Federal Court. If it should happen that plan fiduciaries misuse the claimant believes Plan’s money, or if you are due discriminated against, you may seek assistance from the U.S. Department of Labor or you may file suit in Federal Court. If you are successful in your suit, the court may, if it so decides, require the other party to pay your legal costs, including attorney’s fees.
(f) If you have any questions about this plan, you should contact the claimant until Plan Administrator. If you have any questions about this statement or about your rights under ERISA, you should contact the claimant has exhausted all nearest office of the remedies and procedures set forth in this Section and under ERISAU.S. Labor-Management Services Administration, Department of Labor.
Appears in 3 contracts
Samples: Split Dollar Insurance Agreement (Argo Tech Corp), Split Dollar Insurance Agreement (Argo Tech Corp), Split Dollar Insurance Agreement (Argo Tech Corp)
ERISA PROVISIONS. To The following provisions are part of this agreement and are intended to meet the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.:
(a) The Bank Employer is hereby designated the "Named Fiduciary" until resignation or removal by Employer's Board of Directors. As Named Fiduciary, Employer shall be responsible for the named fiduciary for purposes of ERISA under this Agreement. Accordinglymanagement, the Bank shall have authority to control and manage the operation and administration of this Agreement, . Employer may allocate to others certain aspects of the management and operation of responsibilities of this Agreement including the right employment of advisors and the delegation of any ministerial duties to interpret any provision of this Agreement, and such interpretation shall be binding on all partiesqualified individuals.
(b) All The funding policy under this Agreement is that all premiums paid with respect to on the Policy shall be remitted to the Insurer when due in accordance with the Agreementdue.
(c) Benefits Direct payment by Insurer is the basis of payment of benefits under this Agreement shall be paid directly by the InsurerAgreement, with those benefits in turn being based on the payment of premiums as provided in this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "Claims ReviewerManager" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims ReviewerEmployer.
(e1) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimEmployer, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement paragraph on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his claim, all written in a manner calculated to be understood by the claimant. For this purpose:
(A) The claimant's claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(B) The Claims Manager's explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(2) The claimant shall have 60 days following his receipt of the denial of the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, file with the Claims Reviewer shall provide the Insured or the Insured's beneficiary with Manager a written notification of such extension before the expiration request for review of the initial 90-day perioddenial. The claimant or his representative may review pertinent documents related to this Agreement and in the Claims Manager's possession in order to prepare the request for review.
(f3) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant's request for review of an Insured or his claim. The decision on review shall be in writing and, if denied, shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement paragraphs on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(g4) Should Any payment to a claimant shall to the claimant extent thereof be dissatisfied with in full satisfaction of all claims hereunder against Employer and the Claims Reviewer's disposition Manager, either of whom may require such claimant, as a condition to such payment, to execute a receipt and release therefor in such form as shall be determined by Employer and the claim, the claimant may have a full Claims Manager. If receipt and fair review of the denied claim by the Bank upon written request therefore submitted release is required by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that does not provide such receipt and release in a timely enough manner to permit a timely distribution in accordance with the claim has been denied. In connection with such appealgeneral timing of distribution provisions in this Agreement, the claimant or payment of any affected distribution may be delayed until Employer and the claimant's duly authorized representative shall be entitled to review pertinent documents Claims Manager receive a proper receipt and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimrelease.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 3 contracts
Samples: Split Dollar Insurance Agreement (Interface Inc), Split Dollar Insurance Agreement (Interface Inc), Split Dollar Insurance Agreement (Interface Inc)
ERISA PROVISIONS. To the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.
(a) The Bank "Named Fiduciary and Plan Administrator" of this Plan shall be the Bank's Employee Benefits Plan Administrator until his resignation or removal by the Committee. As named fiduciary for purposes of ERISA under this Agreement. AccordinglyFiduciary and Administrator, the Bank Employee Benefits Plan Administrator shall have authority to be responsible for the management, control and manage the operation and administration of this Agreement, the Executive Phantom Stock Bonus Plan as established herein. He may delegate to others certain aspects of the management and operation responsibilities of the Plan including the right employment of advisors and the delegation of ministerial duties to interpret any provision of this Agreement, and such interpretation shall be binding on all partiesqualified individuals.
(b) All premiums paid with respect to In the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for event that benefits under this Plan Agreement are not paid to the Executive (or to his beneficiary in the case of the Executive's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made by to the Insured or his beneficiary in accordance with Named Fiduciary and Plan Administrator named above within sixty (60) days from the terms of date payments are refused. The Named Fiduciary and Plan Administrator and the Agreement or policy through which Bank shall review the benefits are provided. Not later than 90 days after receipt of such claim, the Claims Reviewer shall provide its written decision on claim and if the claim to the claimantis denied, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in part, they shall provide in writing within ninety (90) days of receipt of such claim their specific reasons for such denial, reference to the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by provisions of this Agreement upon which the claimant, the reason for the denial; a description of denial is based and any additional material or information necessary for the claimant to perfect the claim; an explanation as . Such written notice shall further indicate the additional steps to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have taken by claimants for a full and fair further review of the denied claim by denial if the Bank upon written request therefore submitted by Named Fiduciary and Plan Administrator fails to take any actions within the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60aforesaid ninety-day period. If such extension is necessaryclaimants desire a second review, they shall notify the Bank shall provide the claimant with written notification of such extension before the expiration of such initial Named Fiduciary and Plan Administrator in writing within sixty (60-day period. In all events, the Bank shall act to deny or accept the claim within 120 ) days of the first claim denial. Claimants may review the Plan Agreement or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion, the Named Fiduciary and Plan Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision, and shall include reference to specific provisions of the Plan Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant's written request for review, one member selected by the Bank and the third member selected by the first two members. The action Board shall operate under any generally recognized set of the Bank arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be in bound by the form decision of a written notice such Board with respect to the claimant and its contents shall include all of the requirements any controversy properly submitted to it for action on the original claimdetermination.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 3 contracts
Samples: Executive Phantom Stock Bonus Plan (Mahoning National Bancorp Inc), Executive Phantom Stock Bonus Plan (Mahoning National Bancorp Inc), Change in Control Protective Agreement (Mahoning National Bancorp Inc)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe “Named Fiduciary” is Business Bank of California.
(c) Benefits under this Agreement shall be paid directly by The general corporate funds of Bank are the Insurer, with those benefits in turn being based on the basis of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "“Claims Reviewer" Manager” shall be the Bank, unless another person or organizational unit is designated by Chief Executive Officer of the Bank as Claims Revieweror such other person named from time to time by notice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his/her receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his/her representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(ge) Should the claimant be dissatisfied with the The Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim Manager has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled discretionary authority to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request determine eligibility for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Benefits Agreement (Business Bancorp /Ca/), Supplemental Executive Retirement Benefits Agreement (Business Bancorp /Ca/)
ERISA PROVISIONS. To the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this Agreement must be made by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 30 days after receipt of such claim, the Claims Reviewer shall provide its written decision on the claim to the claimant, unless special circumstances require the extension of such 9030-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 9030-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 30 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 30 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 6030-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 6030-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA, except as set forth in Section 9(a)(2) hereof.
(i) Any dispute or controversy arising under or in connection with this Agreement which cannot be settled in the manner set forth above in sub-sections (e) through (g) hereof, shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator, mutually acceptable to the Bank and Insured or the Insured's beneficiary, sitting in a location selected by Bank within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American Arbitration Association's National Rules for the Resolution of Employment Disputes ("National Rules") then in effect. Judgment may be entered on the arbitrator's award in any court having jurisdiction.
Appears in 2 contracts
Samples: Endorsement Split Dollar Life Insurance Agreement (Georgetown Bancorp, Inc.), Endorsement Split Dollar Life Insurance Agreement (Georgetown Bancorp, Inc.)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe “Named Fiduciary” is Bank.
(c) Benefits under this Agreement shall be paid directly by The general corporate funds of Bank are the Insurer, with those benefits in turn being based on the basis of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "“Claims Reviewer" Manager” shall be the Bank, unless another person or organizational unit is designated by Chairman of the Board of Directors of the Bank as Claims Revieweror such other person named from time to time by notice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his/her receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his/her representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(ge) Should the claimant be dissatisfied with the The Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim Manager has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled discretionary authority to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request determine eligibility for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefits Agreement (Red River Bancshares Inc)
ERISA PROVISIONS. To The following provisions regarding the extent named fiduciary, the funding policy, the payment of benefits, and the claims procedure are part of this Agreement is treated as a "welfare benefit plan" within and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.):
(a) The Bank shall be the named fiduciary for purposes of ERISA under and this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this the Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this the Agreement must be made by the Insured or his or her beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such a claim, the Claims Reviewer shall provide its will render a written decision on the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) . Such notice shall specify the reason or reasons for such extension and the date by which a final decision can be expected. In no event shall such extension exceed a period of 90 days from the end of the initial 90-day period. In the event the Claims Reviewer denies the claim of an a Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a reference to the Agreement or insurance policy that is the basis for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) . Should the claim be denied in whole or in part and should the claimant be dissatisfied with the Claims Reviewer's disposition of the claimant's claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore therefor submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claimant's claim has been denied. In connection with such appealreview, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues issues, in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) . In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in afforded the claimant by this Section and XVIII. Executed at the offices of the Bank, in Kearny, New Jersey, this _____ day of ___________, 2005. Kearny Federal Savings Bank By: ----------------------------- ------------------------------------------- Witness Title ----------------------------- ---------------------------------------------- Witness , Insured KEARNY FEDERAL SAVINGS BANK DIRECTOR LIFE INSURANCE AGREEMENT BENEFICIARY DESIGNATION Beneficiary Form / / New / / Change ---------------- -------------------------------------------------------------------------------- Name (last, first, middle initial) Social Security Number -------------------------------------------------------------------------------- Address -------------------------------------------------------------------------------- Date of Hire Date of Birth
A. BENEFICIARY DESIGNATIONS At my death, I direct that the Beneficiary under ERISA.the Director Life Insurance Agreement with Kearny Federal Savings Bank be paid to my primary Beneficiary or Beneficiaries, noted hereunder. If none of my primary beneficiaries are living, please pay my accounts to my secondary beneficiary(ies). -------------------------------------------------------------------------------- Primary Beneficiary Relationship -------------------------------------------------------------------------------- Address -------------------------------------------------------------------------------- Secondary Beneficiary Relationship -------------------------------------------------------------------------------- Address Marital Status: / /Married / /Single
B. DIRECTOR AUTHORIZATION
Appears in 1 contract
Samples: Director Life Insurance Agreement (Kearny Financial Corp.)
ERISA PROVISIONS. To comply with the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall applyare made a part of this Agreement.
(ai) The Bank Director of Human Resources shall be serve as the "named fiduciary for purposes of fiduciary" as that term is defined under ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret (or any provision of this Agreement, and such interpretation shall be binding on all partiessuccessor position thereto).
(bii) All The funding policy under this Agreement is that all premiums paid with respect to on the Policy Policies shall be remitted paid by the Corporation to the Insurer when due in accordance with the Agreementdue.
(ciii) Benefits Direct payment of the Policy proceeds by the Insurer is the basis of payment of benefits under this Agreement shall be paid directly by Agreement, the Insurer, with those benefits in turn being based on upon the payment of premiums as provided in under this Agreement.
(div) For purposes Director of handling claims with respect to this Agreement, Human Resources shall serve as the "Claims ReviewerManager" shall be the Bank, unless another person or organizational unit as that term is designated by the Bank as Claims Reviewer.
(e) An initial defined under ERISA. If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance Corporation, the Claims Manager shall provide the Trustee with a written explanation setting forth the terms of basis for the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt denial of such claim, referencing the applicable provisions of the Agreement upon which such denial of benefits is based, including such other relevant information as necessary to advise the Trustee of the basis for denial of such claim and advising the Trustee of the procedures to be followed in seeking review of the claim. Any claim under this Agreement shall be deemed filed when made orally or in writing to the Claims Reviewer Manager. Any denial of a claim shall provide its be delivered to the Trustee in writing within ninety (90) days of the claim. The Trustee shall have sixty (60) days following the receipt of the written decision on denial of the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied file with the Claims Reviewer's disposition of the claim, the claimant may have Manager a full and fair written request for review of the denied claim by the Bank upon written request therefore submitted by the claimant denial. The Trustee, or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appealits representative, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent submit relevant documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt comments for purposes of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for this review. The action of the Bank Claims Manager shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.have sixty
Appears in 1 contract
Samples: Split Dollar Insurance Agreement (Total System Services Inc)
ERISA PROVISIONS. To This Agreement constitutes part of a welfare benefit plan ("Welfare Plan") and, as such, the extent following provisions are part of this Agreement is treated as a "welfare benefit plan" within and are intended to meet the meaning requirements of Section 3(1) Title I of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), ):
1. The named fiduciary of the following provisions shall applyWelfare Plan is the Company.
(a) 2. The Bank shall be funding policies under the named fiduciary for purposes of ERISA under this Agreement. Accordingly, Welfare Plan are that all premiums on the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall Policies be remitted to the Insurer by the Company when due. The Executive or the Trust may elect to reimburse the Company for all or a portion of any premium due in accordance with on the AgreementPolicies.
(c) Benefits under this Agreement shall be paid directly 3. Direct payment by the Insurer, with those benefits in turn being based on Insurer is the basis of payment of premiums as provided in benefits under this Agreement.
(d) 4. For claims procedure purposes of handling claims with respect to this Agreementclaims asserted under the Welfare Plan, the "Claims ReviewerManager" shall be the BankRobert J. Dauer, unless another person or organizational unit is such other xxxxxx xx xxx be designated from time to time by the Bank as Claims ReviewerCompany.
(e) An initial a. If for any reason a claim for benefits under this Agreement must be is made by a participant under the Insured or his beneficiary in accordance with Welfare Plan ("Claimant") and is denied by the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimCompany, the Claims Reviewer Manager shall provide its written decision on the claim deliver to the claimant, unless special circumstances require Claimant a written explanation specifying the extension of such 90-day period. If such extension is necessaryreasons for the denial, the Claims Reviewer shall provide provisions on which such denial is based, such other data as may be pertinent, and the Insured or procedures available to the Insured's beneficiary with written notification of such extension before the expiration Claimant to obtain review of the initial 90-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in partclaim, the Claims Reviewer's all written notification shall specify, in a manner calculated to be understood by the claimant, Claimant. For this purpose,
(i) the reason for claim shall be deemed filed when presented in writing to the denialClaims Manager; a description of any additional material or information necessary for and
(ii) the claimant Claims Manager's explanation shall be in writing delivered to perfect the claim; an explanation as to why such information or material is necessary; and an explanation Claimant within 90 days of the applicable claims proceduredate the claim is filed.
(g) Should b. The Claimant shall have 60 days following receipt of the claimant be dissatisfied denial of the claim to file with the Claims Reviewer's disposition of the claim, the claimant may have Manager a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require of the extension denial. For such review, the Claimant or his or her representative may submit pertinent documents and written issues and comments.
c. The Claims Manager shall have discretion to decide the issue on review and shall furnish the Claimant with a copy of such 60-day periodthe decision within 60 days of receiving the Claimant's request for review of the claim. The decision on review shall be written in a manner calculated to be understood by the Claimant and shall specify the reasons for the decision, as well as the provisions on which the decision is based. If a copy of the decision is not so furnished to the Claimant within such extension is necessary60 days, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action deemed denied on the original claimreview.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Split Dollar Insurance Agreement (National Fuel Gas Co)
ERISA PROVISIONS. To the extent The following provisions are part of this Agreement is treated as a "welfare benefit plan" within ---------------- and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.:
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all partiesfiduciary: The Employer.
(b) All The funding policy under this Plan is that all premiums paid with respect to on the Policy shall be remitted to the Insurer when due in accordance with the Agreementdue.
(c) Benefits Direct payment by the Insurer is the basis of payment of benefits under this Agreement shall be paid directly by the InsurerPlan, with those benefits in turn being based on the payment of premiums as provided in this Agreementthe Plan.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "Claims ReviewerManager" shall be the BankEmployer's Director of Human Resources, unless another person or organizational unit is designated by the Bank as Claims Reviewerequivalent position.
(e1) An initial If for any reason a claim for benefits under this Agreement must be made Plan is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimEmployer, the Claims Reviewer Manager shall provide its deliver to the claimant (either the Employee or, in the case of his or her death, the Beneficiary) a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Plan section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his claim, all written in a manner calculated to be understood by the claimant. For this purpose:
(A) The claimant's claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(B) The Claims Manager's explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(2) The claimant shall have 60 days following his receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(f3) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy of the claim decision within 60 days of an Insured or receipt of the Insuredclaimant's beneficiary request for review of his claim. The decision on review shall be in whole or in partwriting and shall include specific reasons for the decision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Plan provisions on which the denial; decision is based. If a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation copy of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension decision is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice not so furnished to the claimant and its contents within such 60 days, the claim shall include all of the requirements for action be deemed denied on the original claimreview.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Landamerica Financial Group Inc)
ERISA PROVISIONS. To the extent this Agreement is treated as a "“welfare benefit plan" ” within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("“ERISA"”), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "“Claims Reviewer" ” shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this Agreement must be made by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claim, the Claims Reviewer shall provide its written decision on the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's ’s beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's ’s beneficiary in whole or in part, the Claims Reviewer's ’s written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's ’s disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's ’s duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's ’s duly authorized representative shall be entitled to review pertinent documents and submit the claimant's ’s views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's ’s written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's ’s written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Split Dollar Life Insurance Agreement (Atlantic Coast Federal Corp)
ERISA PROVISIONS. To The following provisions regarding the extent name fiduciary, the funding policy, the payment of benefits, and the claims procedure are part of this Agreement is treated as a "welfare benefit plan" within and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.):
(a) The Bank shall be the named name fiduciary for purposes of ERISA under and this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this the Agreement.
(d) For the purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this the Agreement must be made by the Insured or his or her beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such a claim, the Claims Reviewer shall provide its will render a written decision on the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) . Such notice shall specify the reason or reasons for such extension and the date by which a final decision can be expected. In no event shall such extension exceed a period of 90 days from the end of the initial 90-day period. In the event the Claims Reviewer denies the claim of an a Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a reference to the Agreement or insurance policy that is the basis for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) . Should the claim be denied in whole or in part and should the claimant be dissatisfied with the Claims Reviewer's disposition of the claimant's claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore therefor submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claimant's claim has been denied. In connection with such appealreview, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues issues, in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) . In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in afforded the claimant by this Section and under ERISA.XVIII. Executed at the offices of the Bank, in Millington, New Jersey, this ____ day of ____________, 200__. Millington Savings Bank ______________________________ By: ____________________________ Witness Title: ____________________________ ______________________________ By: ____________________________ Witness Title: ____________________________ MILLINGTON SAVINGS BANK EXECUTIVE LIFE INSURANCE AGREEMENT BENEFICIARY DESIGNATION Beneficiary Form / / New / / Change ---------------- ________________________________________________________________________________ Name (last, first, middle initial) Social Security Number ________________________________________________________________________________ Address ________________________________________________________________________________ Date of Hire Date of Birth
Appears in 1 contract
Samples: Executive Life Insurance Agreement (MSB Financial Corp.)
ERISA PROVISIONS. To The following provisions regarding the extent named fiduciary, the funding policy, the payment of benefits, and the claims procedure are part of this Agreement is treated as a "welfare benefit plan" within and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended ("“ERISA"), the following provisions shall apply.”):
(a) The Bank shall be the named fiduciary for purposes of ERISA under and this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this the Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "“Claims Reviewer" ” shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this the Agreement must be made by the Insured or his or her beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such a claim, the Claims Reviewer shall provide its will render a written decision on the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's ’s beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) . Such notice shall specify the reason or reasons for such extension and the date by which a final decision can be expected. In no event shall such extension exceed a period of 90 days from the end of the initial 90-day period. In the event the Claims Reviewer denies the claim of an a Insured or the Insured's ’s beneficiary in whole or in part, the Claims Reviewer's ’s written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a description of any additional material reference to the Agreement or information necessary insurance policy that is the basis for the claimant to perfect the claimdenial; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.description
Appears in 1 contract
Samples: Executive Life Insurance Agreement (Kearny Financial Corp.)
ERISA PROVISIONS. To This Agreement constitutes part of a welfare benefit plan (“Welfare Plan”) and, as such, the extent following provisions are part of this Agreement is treated as a "welfare benefit plan" within and are intended to meet the meaning requirements of Section 3(1) Title I of the Employee Retirement Income Security Act of 1974, as amended 1974 ("“ERISA"), ”):
1. The named fiduciary of the following provisions shall applyWelfare Plan is the Company.
(a) 2. The Bank shall be funding policies under the named fiduciary for purposes of ERISA under this Agreement. Accordingly, Welfare Plan are that the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding Company remits all premiums on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due due, less any amount paid by the Executive or the Executive's Assignee, in accordance with the Agreementtheir sole discretion.
(c) Benefits under this Agreement shall be paid directly 3. Direct payment by the Insurer, with those benefits in turn being based on Insurer is the basis of payment of premiums as provided in benefits under this Agreement.
(d) 4. For claims procedure purposes of handling claims with respect to this Agreementclaims asserted under the Welfare Plan, the "Claims ReviewerManager" shall be the BankXxxxxx X. Xxxxx, unless another or such other person or organizational unit is as may be designated from time to time by the Bank as Claims ReviewerCompany.
(e) An initial a. If for any reason a claim for benefits under this Agreement must be is made by a participant under the Insured or his beneficiary in accordance with Welfare Plan ("Claimant") and is denied by the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimCompany, the Claims Reviewer Manager shall provide its written decision on the claim deliver to the claimant, unless special circumstances require Claimant a written explanation specifying the extension of such 90-day period. If such extension is necessaryreasons for the denial, the Claims Reviewer shall provide provisions on which such denial is based, such other data as may be pertinent, and the Insured or procedures available to the Insured's beneficiary with written notification of such extension before the expiration Claimant to obtain review of the initial 90-day period.
(f) In the event the Claims Reviewer denies the claim of an Insured or the Insured's beneficiary in whole or in partclaim, the Claims Reviewer's all written notification shall specify, in a manner calculated to be understood by the claimant, Claimant. For this purpose,
(i) the reason for claim shall be deemed filed when presented in writing to the denialClaims Manager; a description of any additional material or information necessary for and
(ii) the claimant Claims Manager's explanation shall be in writing delivered to perfect the claim; an explanation as to why such information or material is necessary; and an explanation Claimant within 90 days of the applicable claims proceduredate the claim is filed.
(g) Should b. The Claimant shall have 60 days following receipt of the claimant be dissatisfied denial of the claim to file with the Claims Reviewer's disposition of the claim, the claimant may have Manager a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require of the extension denial. For such review, the Claimant or his or her representative may submit pertinent documents and written issues and comments.
c. The Claims Manager shall have discretion to decide the issue on review and shall furnish the Claimant with a copy of such 60-day periodthe decision within 60 days of receiving the Claimant's request for review of the claim. The decision on review shall be written in a manner calculated to be understood by the Claimant and shall specify the reasons for the decision, as well as the provisions on which the decision is based. If a copy of the decision is not so furnished to the Claimant within such extension is necessary60 days, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action deemed denied on the original claimreview.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Split Dollar Insurance Agreement (National Fuel Gas Co)
ERISA PROVISIONS. To the extent this Agreement is treated as a "welfare benefit plan" within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under following provisions in this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration Agreement are part of this Agreement, including Agreement and are intended to meet the right to interpret any provision requirements of this Agreement, and such interpretation shall be binding on all partiesERISA.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe "Named Fiduciary" is Gateway Bank & Trust.
(c) Benefits under this Agreement The general corporate funds of the Bank shall be paid directly by the Insurer, with those benefits in turn being based on the sole source of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "Claims ReviewerAdministrator" shall be the Bank, unless another person or organizational unit is designated by Compensation Committee of the Board of Directors of the Bank as Claims Reviewerapproving the adoption of this Agreement or such other person named from time to time by notice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Administrator shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the provisions of this Agreement on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of the claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant's claim shall be deemed filed when presented orally or in writing to the Claims Administrator.
(2) The Claims Administrator's explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following receipt of the denial of the claim to file with the Claims Administrator a written request for review of the denial. For such review, the claimant or the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Administrator shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant's request for review of an Insured or the Insured's beneficiary claim. The decision on review shall be in whole or in partwriting and shall include specific reasons for the decision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(giv) Should If the appeal is denied, the Claims Administrator shall advise the claimant be dissatisfied with the Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act right to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of bring a written notice to the claimant and its contents shall include all of the requirements for action on the original claimcivil suit under ERISA.
(he) In no event may a claimant commence legal action for benefits The Claims Administrator has the claimant believes are due discretionary authority to determine all interpretative issues arising under this Agreement and the claimant until the claimant has exhausted all interpretations of the remedies Claims Administrator shall be final and procedures set forth in binding upon the Executive or any other party claiming benefits under this Section and under ERISAAgreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefit Agreement (Gateway Bancshares Inc /Ga/)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe “Named Fiduciary” is Bank.
(c) Benefits under this Agreement shall be paid directly by The general corporate funds of Bank are the Insurer, with those benefits in turn being based on the basis of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "“Claims Reviewer" Manager” shall be the Bank, unless another person or organizational unit is designated by Chief Executive Officer of the Bank as Claims Revieweror such other person named from time to time by notice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his/her receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his/her representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(ge) Should the claimant be dissatisfied with the The Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim Manager has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled discretionary authority to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request determine eligibility for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefits Agreement (Red River Bancshares Inc)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe “Named Fiduciary” is Bank.
(c) Benefits under this Agreement shall be paid directly by The general corporate funds of Bank are the Insurer, with those benefits in turn being based on the basis of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "“Claims Reviewer" Manager” shall be the Chief Executive Officer of the Bank, unless another or such other person or organizational unit is designated named from time to time by the Bank as Claims Reviewernotice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(i) The claimant shall have 60 days following his/her receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his/her representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(ge) Should the claimant be dissatisfied with the The Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim Manager has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled discretionary authority to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request determine eligibility for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefits Agreement (Red River Bancshares Inc)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe "Named Fiduciary" is Bank.
(c) Benefits under this Agreement shall be paid directly by The general corporate funds of Bank are the Insurer, with those benefits in turn being based on the basis of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "Claims ReviewerManager" shall be the Bank, unless another person or organizational unit is designated by Chief Executive Officer of the Bank as Claims Revieweror such other person named from time to time by notice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant's claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(2) The Claims Manager's explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his/her receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his/her representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant's request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(ge) Should the claimant be dissatisfied with the The Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim Manager has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled discretionary authority to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request determine eligibility for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefits Agreement (Red River Bancshares Inc)
ERISA PROVISIONS. To The following provisions regarding the extent named fiduciary, the funding policy, the payment of benefits, and the claims procedure are part of this Agreement is treated as a "welfare benefit plan" within and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), the following provisions shall apply.):
(a) The Bank shall be the named fiduciary for purposes of ERISA under and this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the Agreement.
(c) Benefits under this Agreement shall be paid directly by the Insurer, with those benefits in turn being based on the payment of premiums as provided in this the Agreement.
(d) For purposes of handling claims with respect to this Agreement, the "Claims Reviewer" shall be the Bank, unless another person or organizational unit is designated by the Bank as Claims Reviewer.
(e) An initial claim for benefits under this the Agreement must be made by the Insured or his or her beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such a claim, the Claims Reviewer shall provide its will render a written decision on the claim to the claimant, unless special circumstances require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Insured or the Insured's beneficiary with written notification of such extension before the expiration of the initial 90-day period.
(f) . Such notice shall specify the reason or reasons for such extension and the date by which a final decision can be expected. In no event shall such extension exceed a period of 90 days from the end of the initial 90-day period. In the event the Claims Reviewer denies the claim of an a Insured or the Insured's beneficiary in whole or in part, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, the reason for the denial; a reference to the Agreement or insurance policy that is the basis for the denial; a description of any additional material or information necessary for the claimant to perfect the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure.
(g) . Should the claim be denied in whole or in part and should the claimant be dissatisfied with the Claims Reviewer's disposition of the claimant's claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore therefor submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claimant's claim has been denied. In connection with such appealreview, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues issues, in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claim.
(h) . In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in afforded the claimant by this Section and under ERISA.XVIII. Executed at the offices of the Bank, in Kearny, New Jersey, this _____ day of ___________, 2005. Kearny Federal Savings Bank By: ------------------------------- ----------------------------------------- Witness Title ------------------------------- -------------------------------------------- Witness , Insured KEARNY FEDERAL SAVINGS BANK EXECUTIVE LIFE INSURANCE AGREEMENT BENEFICIARY DESIGNATION Beneficiary Form / / New / / Change ---------------- -------------------------------------------------------------------------------- Name (last, first, middle initial) Social Security Number -------------------------------------------------------------------------------- Address -------------------------------------------------------------------------------- Date of Hire Date of Birth
Appears in 1 contract
Samples: Executive Life Insurance Agreement (Kearny Financial Corp.)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All Bank shall pay all required premiums paid with respect to under the Policy shall be remitted to the Insurer when due in accordance with the Agreementdue.
(c) Benefits Payment by the Insurer is the basis of payment of benefits under this Agreement shall be paid directly by the InsurerAgreement, with those benefits in turn being based on the payment of premiums as provided in this Agreementthe Policy.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "Claims ReviewerManager" shall be the Bank, unless another Chairman of the Board of Directors of Bank or such other person or organizational unit is designated named from time to time by the Bank as Claims Reviewernotice to Insured.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Policy or Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement or Policy provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect the claim; an explanation as to why within such information or material is necessary; and an explanation of the applicable claims procedure.
(g) Should the claimant be dissatisfied with the Claims Reviewer's disposition of the claim60 days, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for deemed denied on review. The action of the Bank shall be in the form of a written notice Claims Manager has discretionary authority to the claimant and its contents shall include all of the requirements determine eligibility for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Endorsement Method Split Dollar Agreement (Red River Bancshares Inc)
ERISA PROVISIONS. To the extent (a) The following provisions in this Agreement is treated as a "welfare benefit plan" within are part of this Agreement and are intended to meet the meaning of Section 3(1) requirements of the Employee Retirement Income Security Act of 1974, as amended 1974 ("ERISA"), the following provisions shall apply.
(a) The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
(b) All premiums paid with respect to the Policy shall be remitted to the Insurer when due in accordance with the AgreementThe “Named Fiduciary” is Bank.
(c) Benefits under this Agreement shall be paid directly by The general corporate funds of Bank are the Insurer, with those benefits in turn being based on the basis of payment of premiums as provided in benefits under this Agreement.
(d) For purposes of handling claims with respect to this Agreementprocedure purposes, the "“Claims Reviewer" Manager” shall be the Bank, unless another person or organizational unit is designated by Chief Executive Officer of the Bank as Claims Revieweror such other person named from time to time by notice to Executive.
(ei) An initial If for any reason a claim for benefits under this Agreement must be made is denied by the Insured or his beneficiary in accordance with the terms of the Agreement or policy through which the benefits are provided. Not later than 90 days after receipt of such claimBank, the Claims Reviewer Manager shall provide its deliver to the claimant a written decision explanation setting forth the specific reasons for the denial, pertinent references to the Agreement section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his/her claim, all written in a manner calculated to be understood by the claimant for this purpose:
(1) The claimant’s claim shall be deemed filed when presented orally or in writing to the Claims Manager.
(2) The Claims Manager’s explanation shall be in writing delivered to the claimant within 90 days of the date the claim is filed.
(ii) The claimant shall have 60 days following his/her receipt of the denial of the claim to file with the claimant, unless special circumstances require Claims Manager a written request for review of the extension of denial. For such 90-day period. If such extension is necessaryreview, the Claims Reviewer shall provide the Insured claimant or the Insured's beneficiary with his/her representative may submit pertinent documents and written notification of such extension before the expiration of the initial 90-day periodissues and comments.
(fiii) In The Claims Manager shall decide the event issue on review and furnish the Claims Reviewer denies claimant with a copy within 60 days of receipt of the claim claimant’s request for review of an Insured or his/her claim. The decision on review shall be in writing and shall include specific reasons for the Insured's beneficiary in whole or in partdecision, the Claims Reviewer's written notification shall specify, in a manner calculated to be understood by the claimant, as well as specific references to the reason for pertinent Agreement provisions on which the denial; decision is based. If a description copy of any additional material or information necessary for the decision is not so furnished to the claimant to perfect within such 60 days, the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedureclaim shall be deemed denied on review.
(ge) Should the claimant be dissatisfied with the The Claims Reviewer's disposition of the claim, the claimant may have a full and fair review of the denied claim by the Bank upon written request therefore submitted by the claimant or the claimant's duly authorized representative and received by the Bank within 60 days after the claimant receives written notification that the claim Manager has been denied. In connection with such appeal, the claimant or the claimant's duly authorized representative shall be entitled discretionary authority to review pertinent documents and submit the claimant's views as to the issues in writing. The Bank shall act to deny or accept the appealed claim within 60 days after receipt of the claimant's written request determine eligibility for review unless special circumstances require the extension of such 60-day period. If such extension is necessary, the Bank shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Bank shall act to deny or accept the claim within 120 days of the receipt of the claimant's written request for review. The action of the Bank shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original claimbenefits.
(h) In no event may a claimant commence legal action for benefits the claimant believes are due to the claimant until the claimant has exhausted all of the remedies and procedures set forth in this Section and under ERISA.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefits Agreement (Red River Bancshares Inc)
